1 U.S Markets closed lower Yesterday.
2. Right now , dow futures are lower.
3. Asian markets are mixed.
4. SGX Nifty is down 150 Points.
5. Yesterday was the Fed event in U.S
6. It was expected that they would raise rates by 25 basis points.
7. The same happened yesterday and in spite of that Markets crashed yesterday.
8. Yesterday was a highly Volatile day.
9. Markets were all over the place yesterday.
10. Before the budget , markets were higher.
11. During the budget , markets were flat.
12. After 1 pm markets were at the peak of Volatility.
13. Bank Nifty was down 1000 points by 2.45 pm.
14. In next 30 minutes it recovered all of its losses.
15. The budget was neither good nor bad.
16. The income tax slabs have been revised but also the insurance benefit has gone.
17. All the Insurance companies crashed yesterday.
18. This is a structural change coming out of budget now.
19. Adani stocks crashed yesterday.
20. So clearly there was valuation over hang which is getting corrected.
21. Nifty might trade between 17350 to 17700 today.