- US markets closed higher Yesterday.
- Second Consecutive day of record high closing for U.S Markets.
- Asian markets are struggling to maintain momentum.
- We have very good Global cues but the local cues seem to be creating an issue for the Markets.
- Yesterday as well , Nifty was unable to cross it's resistance of 15k.
- From last 2 Months as & when Nifty tries to cross 15k , selling pressure emerges.
- SGX Nifty is trading at 14920 now.
- Bank Nifty is the underperformer.
- Bank Nifty underperformance is effecting Nifty as well.
- Yesterday too in last 30 mins, Bank Nifty fell 500 points.
- On a close to close basis we closed exactly where we closed the previous expiry.
- The Volatility in between this was very high.
- Yesterday India VIX again closed below 20.
- Now India VIX below 20 indicates very low premiums for options.
- As and when India VIX has closed below 20 , in coming few days again the Volatility has increased.
- After a tremendous Bull run we are consolidating.
- 14200 to 15500 is the range.
- In between this 1300 points we have been highly volatile.
- Market is going nowhere but still acting as if something major could happen.
- I feel we might consolidate for some more time.
- Bank Nifty has to outperform for Markets to touch all time highs.
- Same way don't expect big correction from here.
- Every dip close to 14500 is a buying correction and rallies close to 15100 are selling Opportunities.
- Nifty Might Trade between 14760 to 15020 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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