- US markets closed higher Yesterday.
- But After Market hours , it Witnessed a huge sell off.
- All major frontline stocks of Dow Jones like Twitter , Amazon etc are lower.
- It seems more of a relief rally that was witnessed Yesterday.
- Asian Markets are also Trading Positive.
- SGX Nifty is Trading around 11640.
- This Market keeps changing in the Blink of an eye.
- Reasons for such heavy Volatility are a lot.
- U.S Elections , Corona Virus 2nd wave , Stimulus delayed , European Countries are again resorting to nation wide lockdown.
- So the picture is highly Uncertain.
- Any type of rally or pull backs should be sold into heavily now.
- But US futures are lower now.
- India VIX is constantly raising.
- Which depicts heavy Volatility ahead.
- I don't expect markets to fall like it happened in the Month of March.
- I definitely expect a correction.
- 400-500 Points on Nifty.
- 1000-1200 Points on Bank Nifty seems on the cards now.
- Time in Uncertain , nobody can predict when will it happen.
- As Markets take their own time.
- October Month was highly Volatile.
- Expecting November to be much better than October.
- Nifty might Trade between 11540-11720 today.
- 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
Comments