Gold, Silver Volatility Shakes Markets; Budget Looms, Risk Management Crucial

• Gold and silver experienced extreme intraday volatility, with silver plunging 23% before a quick recovery, impacting intraday traders.
• Global markets, including US indices and Gift Nifty, also saw significant fluctuations, indicating potential trend reversals.
• A three-day counter-trend rally in Nifty and Bank Nifty is complete; cutting positions before the Sunday budget is advised.
• FIIs recorded significant selling of ₹7,868 crore, and Nifty formed an "outside day," signaling a possible reversal after a rally.
• Brent crude rising above $70 and upcoming results from Bajaj Auto, Nestle, NTPC, Power Grid, Ambuja Cement, Jindal Steel, NALCO, and SAIL add to market watch.

Why It Matters: Extreme volatility in gold and silver, coupled with FII selling and budget uncertainty, demands cautious market strategy.