- U.S Markets closed at record highs yesterday.
- Right now Asian Markets are mixed.
- SGX Nifty is flat at 17880.
- The talk of the town is IRCTC.
- Government has announced that IRCTC has to share 50% of convenience fee with Govt.
- The stock is in split and shares have not been credited yet to demat.
- This sudden news will cause a panic in the Market.
- People invest in the company looking at its management and Trust .
- IRCTC was preferred because of its Monopoly and no intervention in Corporate Governance.
- This change will hit a big damage and impact the reputation of the Management.
- October Expiry was the worst for Bulls.
- Markets crashed Yesterday due to heavy FII selling and also Expiry related issues.
- 17800 is the critical level for today.
- If we close below 17800 today then it's time to become bearish in the short run.
- If we manage to hold on today then we can expect stability going forward.
- Traditionally November is a very good month for Bulls.
- Last 3 Years November has given positive returns.
- Last Month it was 11% return in November for Nifty.
- Nifty might Trade between 17800 to 18000 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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