- Asian markets are slightly positive.
- Dow Futures are trading lower.
- SGX Nifty is trading around 14800.
- On Friday , within few minutes of Market opening Nifty and Bank Nifty broke the Monthly low.
- Nifty made a low of 14350 but then bounced back 350+ Points by the end of the day.
- This was supported by big short covering later during the day.
- US markets showing divergence.
- Dow Futures down but Nasdaq is up.
- U.S Markets are in a Consolidation phase.
- Indian Markets too on a close to close basis is in a Consolidation.
- March Month is typically a Consolidation but with huge Volatility.
- Dow Future down but Nasdaq Future up.
- Covid cases increasing rapidly in India.
- Maharashtra seems to be the worst effected.
- Many states starting to put restrictions and having mini lockdowns.
- Market as of now isn't reacting to such news.
- FII's buying spree is on.
- On Friday , both FII's & DII's bought and were net buyers.
- FIIs have bought for Rs 7500 crores in last one week.
- We have only 4 trading sessions left for March Expiry and Expecting this to be very Volatile.
- But on a close to close basis I don't expect Nifty & Bank Nifty make big move.
- Nifty might Trade between 14620 to 14880 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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