SGX Nifty sharply up, what’s cooking?

16. März 2022

In the morning I posted a chart with question is the market turning super bullish? Although there are plenty of factors to think otherwise, this rally is definitely a big surprise. Short covering may be a factor, but today both fii and dii are net buyers with fii being heavy buyers in both index futures and options. India vix is down 10% and there might be some positive development on the war front. Tomorrow is the expiry and last trading day of the week as we celebrate Holi on the long weekend. The most important event to watch is the Fed rate hike decision and also it’s commentary in the midst of uncertain global environment. Till then sit tight.