- US markets closed marginally higher Yesterday.
- Asian markets are Flat.
- SGX Nifty is higher above 12600.
- Yesterday Bank Nifty started its show.
- In 2nd half it rocketed 400 Points which helped Nifty going higher.
- FIIs bought for ₹ 570 crores Yesterday.
- DIIs have sold for Rs 1300 crores.
- FIIs are booking profits in some long positions in F&O also.
- Maybe all this is due to Budget as the Expectations are set quite high from the same.
- Earlier FIIs long in Index Futures was above 80% and it is now about 76%.
- Markets might not go much higher from here but also there is limited downside risk.
- So expecting some Consolidation ahead.
- Banks and Reliance have out performed yesterday.
- Reliance finally looked in some Momentum Yesterday.
- Whether we witness continued rally here or not time will say.
- Today Market might be Volatile.
- Usually Wednesdays get Volatile in second half.
- Due to expiry related Unwinding , fresh Positions etc.
- Infosys and Wipro results are being decalres today.
- This is an Important event to look for.
- Nifty might Trade between 13480-13720 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
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