- U.S Markets closed mixed Yesterday.
- Dow Futures were Positive yesterday when indian Markets were opened.
- But on the close to close basis it closed where it was when our Markets opened.
- Yesterday markets closed at the high due to short covering in Pvt Sector Banks.
- FM announced tat PSU companies can keep accounts with Pvt Sector Banks.
- Earlier PSU Companies were asked to keep accounts only with PSU Banks.
- This led to short covering rally in Pvt Sector Banks.
- Pvt sector banks and NBFC Companies led the rally Yesterday.
- Yesterday due to Technical Glitch many People lost huge.
- Also there was all kinds of confusion & problems regarding trading Position / square off etc.
- There was no proper communication from NSE.
- Along with Indian markets, entire world markets recovered.
- US makets closed higher.
- Asian markets are higher.
- SGX Nifty is trading around 15045.
- SGX indicating opening above 15k today.
- This last week of Feb has been highly Volatile.
- Markets are all over the place.
- Today too Volatility is likely to continue.
- Expecting to be a Bullish day today with short covering in 2nd half.
- Downside is limited to 14900.
- Expecting expiry between 15140 & 14900.
- Nifty might Trade between 14900 -15140 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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