- US markets closed on a Positive Note Yesterday.
- Asian Markets are all Trading Positive.
- SGX Nifty is up by about 40 Points.
- Yesterday our Markets fell below 11k and Witnessed a Breakdown.
- Trend looks Bearish as of now.
- Few Index Heavyweights on the Back of which Markets were running have started to correct.
- Reliance , HDFC Bank are down more than 10%.
- Aditya Puri News impact seems to have been effecting HDFC Bank a lot.
- Amit Shah (Home Minister) has been tested Positive for Corona Virus.
- Now Markets may be afraid that due to him testing Positive all the Politicians including PM are in risk of testing Positive.
- India is Slowly to be the First Country with highest Corona Virus cases.
- This could dent a severe impact on the Economy.
- Long Term investors should start booking profits in their Portfolio.
- Markets were Rallied Excellently and now is the time to apply Caution.
- Auto Sales have been better than expected.
- India's Monsoon has been more than 10% than Normal.
- India is a Agricultural Economy so Monsoon weighs a heavy impact of the Country.
- 10900-10850 is the Next support for Nifty.
- In this level is taken out then the next support is around 10600.
- I think 10900-10850 should hold on Currently.
- Once this support is tested and held then Markets might Witness a good short covering rally.
- FII's were net sellers Yesterday and have sold Heavily.
- On the other hand , DII's were net Buyers but a very small amount.
- Nifty might Trade between 10880-11060.
- stockmarketadvisory.in
U.S Markets closed higher yesterday. Asian markets are higher. SGX nifty is up 150 points. Yesterday was a very tricky and unexpected session. As soon as Market opened there was a continuous selling. Market was falling left , right and center without taking any support. I was wondering why is the Market going against the global cues Then we got the news about RBI Governer press conference. So some informed people already knew about this rate hike. Hence there was a sudden selling in the markets. RBI hiked repo rate by 40 basis points and Cash Reverse ratio by 50 basis points. Repo rate is the rate at which banks borrow money from RBI. When the rate is increased banks borrow money at higher cost and in turn loans also get costlier. This slows down the growth and liquidity in the Market temporarily. Cash reserve ratio is the interest free deposit money which banks have to keep with RBI. RBI uses that money without having to pay any interest on it. Increasing CRR means RBI is
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