- U.S Markets closed lower Yesterday.
- Right now Dow Futures are slightly down.
- Asian Markets like Hang Seng & China recovered yesterday but now both are lower.
- SGX Nifty is trading near 15740.
- Yesterday our Markets were highly Volatile.
- Most astonishing point was that Market has been recovering from big falls.
- We haven't broken important support of 15500.
- So this range might continue for long from 15500 to 16000.
- Today we have monthly July expiry and as of now July was flat.
- We might expect some big Volatile expiry moves today in 2nd half.
- FII's have been regularly selling for more than 2000 crore on a daily basis.
- Yesterday we had Fed event and there wasn't any change in interest rates.
- So this has become a Non - event for the Markets.
- My view has become mildly bearish on the Markets and I don't expect Nifty to cross 16k in August series.
- That's because of Poor Corporate results and earnings.
- Maybe FII's are selling due to the same.
- All the Large Cap stocks have fallen after results.
- Kotak Bank yet again declared very poor results.
- Bank Nifty has been underperforming due to same.
- HDFC Bank & Kotak Bank both constitute about 40%of Bank Nifty and both have declared below par results.
- Bank Nifty rallying in these situations isn't permissible.
- Nifty might Trade between 15550 to 15820 today.
- Big range today due to expiry.
- 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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