- U.S Markets closed yet at another record high Yesterday.
- Dow futures are slightly positive currently.
- Asian Markets are higher.
- SGX Nifty is Trading near 15820.
- U.S Jobs Data has come above Expectations.
- U.S added more jobs than Expected and that data has come on Friday.
- Due to this U.S Markets closed at fresh highs.
- Our Markets have been consolidating from quite some time now.
- Last 1 Month we have been trading in a narrow range on Indices.
- I expect the range to continue for this week too.
- From next week the Corporate results start kicking in.
- This will propell some higher move in indices.
- Friday we had a good short covering towards end of the day.
- Those who have shorted throughout the week were in good gains.
- They didn't wish to carry positions over the weekend.
- They squared off their positions.
- This has led to short covering towards day end and markets closed higher after 5 days negative closing.
- Nifty might Trade between 15700-15900 today.
- I would not buy this gap up. Instead will look to sell 15850 to 15900.
- 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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