- U.S Markets closed flat Yesterday.
- Asian Markets are lower currently.
- Dow Futures are mildly lower.
- SGX Nifty is Trading at 17100.
- Yesterday the frontline indices closed lower after continued 3 trading days of upswing.
- This was on the cards & expected.
- After such a fanstastic rally , Market participants would prefer to book profits.
- Yesterday was just a normal profit booking day.
- Infact Yesterday's profit booking is very good for the Bull Market in long term.
- Markets cannot keep going up without pause.
- Intermittent pause and profit booking keeps it healthy for longer term.
- Auto Companies have been posting disappinting numbers.
- Hero Moto Corp reported 22% sales decline in two wheeler segments.
- GDP number reported was at par with Expectations.
- There were no surpirses nor disappointments on that front.
- Yesterday I mentioned the Expiry range between 17000-17250 & that worked very well for Yesterday.
- Continue with the similar view even for today.
- Expecting the Consolidation to continue for today as well.
- I've sold 17000 PE and 17250 CE at 20₹ each Yesterday.
- Expecting both to go to Zero by day end.
- Nifty might Trade between 17000 to 17250 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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