- U.S Markets closed Flat Yesterday.
- U.S Markets aftee hitting all time highs a Month ago now seems to have gone into Consolidation.
- Right now U.S Futures are mindly higher.
- SGX Nifty is almost flat.
- Yesterday was a Volatile day for our Markets.
- Bank Nifty after being up 400 points fell 500 points then recovered 300 then finally closed 200 points lower.
- Due to this Nifty was also in a Consolidation phase yesterday.
- Today as well I expect the Consolidation to continue.
- 15600 , 15700 CE have added high open interest yesterday.
- Same was 15500 & 15400 PE have also added good amount of open interest.
- As of now the upside seems limited & there's not much downside too.
- Coming to Bank Nifty , 35500 CE has added high open interest and on the downside 35000 PE has added good open interest.
- We can expect Bank Nifty to be Volatile in this 500 point range.
- ITC has declared sub par results yesterday with a dividend of ₹5.75 per share.
- ITC has a good weight in Nifty so it will be interesting to see how it performs.
- Wednesdays are the penultimate days before expiry so they are likely to be quite Volatile.
- Any dip towards yesterday's low on Nifty near 15530-15550 is a buying opportunity.
- Same way on the Bank Nifty any dip close to 35200-35300 is a good buying opportunity.
- India VIX was slightly higher which shouldn't matter coz Nifty futures closed at significantly higher premium yesterday.
- Trade the range that's the plan for today and don't chase rallies nor short the falls.
- Take contra trades near the Boundaries.
- Nifty might Trade between 15520 to 15680 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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