- U.S Markets closed lower on Friday.
- Right now , Dow Futures are Negative.
- SGX Nifty is near 17450.
- Global Markets are jittery due to Evergrande loan Default case.
- Evergrande company is China based real Estate Company and is one of the largest in the World.
- There has been news floating around that they have been defaulting on loan dues.
- Due to which the Global Markets are jittery.
- On Friday Nifty touched 17800 but soon we witnessed a heavy profit booking.
- This might be due to the Weekend as traders don't wish to carry Positions over the Weekend.
- Today's gap down might be lower than what SGX is indicating.
- SGX doesn't show the exact situation most of the times.
- In the past when such gap downs happened we have recovered during the day.
- Today as well I feel the same.
- 17450 is a strong support for Nifty and as long as we hold on to this level one should consider buy on dip.
- India VIX closed higher on Friday and it's likely to open higher today as well.
- We might not fall much in line with Global Markets today.
- DII's were net sellers on Friday but FII's were buyers.
- If we breach 17450 on Nifty then I will turn bearish.
- Bank Nifty is showing strength and on Friday it closed Positive.
- Kotak Bank is outperforming in Banking Sector.
- Nifty might Trade between 17450 to 17650 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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