- U.S Markets closed higher Yesterday on Friday.
- Dow futures are slightly positive.
- Asian Markets are currently higher.
- Right now U.S Futures are trading higher.
- SGX Nifty is trading above 15900.
- On Friday , we closed almost at record highs.
- Significant development was the outperformance of Banking Stocks.
- Bank Nifty outperformed Nifty by a huge margin on Friday and closed almost 2% higher.
- Bank Nifty Future has broken out above 35500.
- If we Sustain above this level for some time then the rally should continue.
- Reason for Nifty Underperformance is Reliance.
- Reliance is down 6% in last few trading sessions.
- Once Reliance settled and bottoms out then Nifty will fly.
- Global Markets are also Positive overall.
- The Sentiment and the Underlying tone is Bullish.
- July series we have many important events lined up.
- Companies are going to declare their results.
- In the Month of Corporate results Declaration we can expect Markets to make big move on the either side.
- U.S Inflation data has also come lower than anticipation is also a positive news.
- Delta Plus Variant spreading faster than ever plus new restrictions in Maharashtra is a negative news.
- Nifty might Trade between 15820-16020 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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