- US markets closed more than a percent higher Yesterday.
- Asian markets are all in Green .
- SGX Nifty at weekly high & Trading near 11750.
- Dow Futures are now Positive.
- Yesterday Bank Nifty was up more than 1000 Points.
- This rally was without any news etc.
- There were sub par results from ICICI Bank etc which might have led to big Short covering.
- Pre election volatility in U.S Markets is being witnessed.
- FII's have started buying after being net sellers for quite a long time.
- DII's have turned sellers.
- The big day is here now.
- U.S Elections the most important event on which the whole world keeps looking at.
- Trump might be slightly Disadvantageous due to risking lives to many Americans in this Pandemic.
- Corona Virus was not seriously handled by his Administration.
- It looks like Market favours Joe Biden to win the Election.
- Markets are Anti Trump.
- However Election moves are very Difficult to predict.
- Outcome is much Difficult to predict.
- Indian Markets are rangebound and in a Consolidation phase.
- Use these type of gap Ups to sell into with Stoploss.
- Nifty might Trade between 11640-11800.
- 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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