- US markets closed flat.
- Asian markets are mindly higher.
- SGX Nifty is up 30-40 Points.
- Yesterday Nifty was up 140 Points at one point of time.
- In last hour we witnessed severe profit booking.
- Bank Nifty fell 600 Points in last hour.
- Nifty fell 200 Points.
- This can be construed as Markets are unwilling to go much higher from here.
- Also the downside in limited.
- Yesterday was a good Consolidation day.
- Nifty almost closed where it had opened.
- Going forward there would be Consolidation with Volatility.
- Few frontline heavyweights contributed to the fall Yesterday.
- ITC and Reliance fell 2-3% each.
- Bank Nifty as always is a highly Volatile counter.
- 15000 is a good support for Nifty.
- 15400 is a stiff resistance.
- I expect Nifty to expire somewhere between 15000 to 15400 for this expiry.
- There is a good amount of Put writing in 15000 PE and 15400 CE.
- Those who sold Put option will always look for cover and they sell call option too.
- Wednesdays can be highly Volatile.
- So use Volatility to your favour when Market is at its Boundaries of the range.
- Nifty might Trade between 15060-15280 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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