vishwas pandey

  US markets closed higher. But it has given up half of the gains in last hour. Asian markets are mostly positive. SGX Nifty crossed 14050 yesterday night but now trading around 13970. Still this will be a gap up of more than 100 points. Nifty has fallen more than 1000 points intra month in Jan series. Bank Nifty has fallen more than 3000 points intra month in Jan series. Last month FIIs began with more than 75% long in F&O. This month it is only 62%. Markets are light going in to budget. Decissive direction will be set only after budget. For very short term, 50DMA of 13700 is a good support. Yesterday markets took support near 13700. Pharma stocks will be in focus as many pharma stocks will declare results. Moreover when overall markets are weak, pharma and FMCG tend to do well. Whenever huge selling happens in bluest of blue chip stocks like HDFC Bank and HDFC, the bottom is somewhere near. Yesterday I could feel that, at the same time, markets may not rally from here. Markets ma