Markets Racing Ahead (2nd May 2023)

1. U.S Markets closed mixed Yesterday.

2. Right now Dow Futures are Flat.

3. SGX Nifty is higher.

4. Asian Markets are mixed.

5. FII's have turned net buyers since last week.

6. Whole of 2022 and first Quarter of 2023 they have sold aggressively.

7. Now they have started buying in huge Quantities.

8. Yesterday the GST Collection numbers were announced for April month

9. The GST Collection numbers were at all time high for the Month of April.

10. These GST Collection numbers have increased 20% month on month

11. GDP numbers are decreasing, corporate results are not upto mark but GST numbers are rising.

12. This shows Government is sucking in more and more amounts from public.

13. This doesn't show increased Economic activities as on date.

14. Anyways , GST Numbers increasing is a positive trigger for the markets

15. The Government receives more funds from the public for public welfare and they can use it for Economic Growth

16. 18000 PE has the highest open interest for weekly expiry

17. We are likely to open above 18100 today.

18. India VIX is at all time high in my career of stock market.

19. Now VIX is below 11.

20. India VIX below 15 indicates a Bullish market.

21. Nifty might trade between 18000 to 18200 today.

22. stockmarketadvisory.in

Comments

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