- US markets closed a percent lower Yesterday.
- This was a Normal profit booking considering such heavy rally in November series.
- Pfizer announced that their Vaccine is 95% effective, earlier they said it is 90%.
- Pfizer and Moderna are competing so hard like Messi & Ronaldo in Football.
- Pfizer has claimed that they accuracy more than that of which Moderna was Claiming.
- Asian Market's are all witnessing profit booking.
- SGX Nifty is Down 100 Points and Trading near 12870.
- Today is weekly expiry so things might become Volatile.
- 12800 is a short term support on Nifty.
- If that gets violated then sell off will accentuate.
- Expecting today's Expiry to be sideways / choppy.
- Market will give you a feeling that it will break resistance but it won't.
- You will feel support will get taken out but it won't sustain.
- Expecting this to be the way ahead for today.
- India has not tested even 10% of the Population and has around 90L cases.
- Situation might worsen if Vaccine is delayed.
- In Bull Market every bad news gets ignored & that's what is happening now.
- Nifty might Trade between 12800-12960 today.
- Banks might continue outperform for November series.
- 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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