- U.S Markets closed higher yesterday.
- Asian markets are mostly mixed.
- Dow futures are slightly lower right now.
- SGX Nifty is up 30-40 Points.
- Yesterday it was a volatile trading session.
- As soon as Markets opened , there was a heavy sell off.
- Nifty even broke 18400.
- After getting close to 18350 , markets recovered.
- Yesterday the resistance was at around 18500.
- Once 18500 Is crossed and we get a closing above 18500 , the range would once again shift from 18500 to 19000.
- Yesterday our IIP & Inflation data were announced.
- IIP reduced by 4% which is not a good sign.
- Inflation also came in at below 6%.
- It's a mixed bag kind of news.
- One is Positive and the other one is Negative.
- Today we have the U.S Inflation numbers.
- Inflation in U.S is also expected to cool off.
- Tomorrow would be the Fed meet.
- Fed comments relating to Inflation etc should also be watched closely.
- Yesterday, Nifty went everywhere but closed at the same level as of Friday.
- Nifty might trade between 18400 to 18700 today.
- stockmarketadvisory.in
U.S Markets closed higher yesterday. Most importantly , S&P 500 VIX crashed 10%. There was huge Volatility in global markets due to Fed event. Markets remain volatile only when they have topped out or have bottomed out. Right now I feel we have bottomed out at 16850. Asian markets are slightly lower now. Dow futures are lower. SGX Nifty is at 17500. Finally , the most awaited day has come. Budget 2022 is going to be presented today. Expectations are of a good and stable budget. Reasons are the Elections coming up and LIC IPO in March. Govt very well knows if LIC IPO has to go through , Market sentiment has to be good. Without good market spending it would be very difficult for IPO to go through. Market had already fallen a lot before the budget. Although we have rallied in last 2 days but still we have some upside left. Though I feel it's not favourable to chase today's gap up. Today's gap up is a good opportunity to book profits those who carried longs. Bud
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