- U.S Markets closed lower on Friday.
- Right now U.S Futures are Trading higher.
- SGX Nifty is Trading near 15900.
- Asian Markets are higher.
- There were some positive news over the weekend.
- The GST Collection for July came at 1.16 lakh crore.
- This is the top 3 highest GST Collections till date.
- Auto Companies reported good sales numbers.
- Due to these positive news we are indicating towards a 100 points gap up.
- I would sell if we open near 15900.
- At 15900 I would short the Nifty with 50% of my volume and near 15950 I would look to short again with 50% of the remaining volume with a stoploss of 16k.
- If it works its well and good. Else I'm prepared to take my Stoploss.
- 16000 CE continues to have highest open interest for August series.
- July series too we had the same situation.
- Thus we can expect it to act as stiff resistance.
- Surprisingly , 15000 PE has the first highest open interest in August.
- Second highest Open interest is at 15500 PE.
- This shows that people are more fearful of the downside than the upside.
- These are data points which you need to consider.
- Nifty might Trade between 15740 to 15920 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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