- U.S Markets were about 200 Points higher Yesterday during trading hours but have closed 500 Points lower .
- Asian Markets are lower.
- SGX Nifty is Trading near 17450.
- September was a very Good Month compared on close to close basis.
- Nifty rallied 900 Points in September.
- Currently we are in a situation stuck between very bad Global cues and Excellent local cues.
- Global Markets are in a heavy correction phase ahead of Inflation data tonight by U.S.
- On the Other hand , Tax Corrections , Sector Growth data have been excellent locally.
- Generally , gap downs due to Macro news offer a good opportunity to buy into.
- I'm Expecting the same for today.
- This gap down is a good buying Opportunity for short term traders and long term investors.
- October series I'm Expecting a positive situation for our Markets.
- Auto Sales data are going to come out today.
- I do not expect them to very good and that seems to be priced into the prices.
- Markets have been highly volatile from last 10 trading sessions.
- I expect Volatility to reduce today.
- Yesterday's expiry was negative due to expiry related issues and today's gap down is due to Global cues.
- 17400 should be a good support for the day.
- Advisable to sell 17000 PE weekly expiry on today's gap down.
- Nifty might Trade between 17400 to 17700 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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