- US markets fell Yesterday.
- Asian Markets are Trading mixed.
- SGX Nifty is now Trading above 15k.
- Yesterday last hour we witnessed a heavy short covering.
- Nifty was up 150 Points and Bank Nifty was up 300 Points.
- 15000 CE has the open interest.
- Option writers have sold this Call Option heavily.
- Once we break this level we might witness a heavy short covering as option writers would look for cover.
- I feel Markets will expire somewhere near to previous week expiry level.
- Previous week we expired around 15100 guess this week also it's going to be the same.
- 15200 is a big resistance for Nifty and it has reversed almost 4-5 times from that level.
- So the Possibility of crossing 15200 seems difficult this week.
- On the down side 14800 should act as a good support.
- So the range comes in between 14800-15200 for Nifty for this expiry.
- Unless anything drastic happens or fresh news triggers out.
- I feel we should expire within above levels.
- Generally Wednesdays are Rangebound sessions but with good amount of Volatility.
- Expecting today to be the same.
- Nifty might Trade between 14920-15120 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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