- U.S Markets closed slightly lower Yesterday.
- Asian Markets are all mostly higher.
- SGX Nifty is almost flat near 15250.
- Bank Nifty had underperformed yesterday.
- HDFC bank in particular dragged Bank Nifty.
- Reliance is also trading lower.
- The frontline heavyweight stocks are in a Consolidation phase.
- I expect this to continue today as well.
- Yesterday high Open Interest has been added at 15300 CE.
- Bank Nifty also added huge open interest at 35000 CE.
- These levels will act as a huge resistance for the next 2 days.
- But however this is Monthly expiry week & due to Expiry related issues things might change.
- FII's were net buyers whereas DII's sold Yesterday.
- India VIX at one point of time was higher 10% but closed below 19.
- Option Premiums are too low that indicates not a big move ahead.
- Even June Expiry options are trading at such steep discounts.
- Markets are slowly inching higher and it's a matter of time before we hit fresh all time highs.
- However for today and tomorrow I'm slightly bearish.
- Wednesdays are generally highly Volatile considering the expiry day the next day.
- Use every dip to buy for long term point of view.
- Nifty might Trade between 15120-15320 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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