- U.S Markets at one point of time were crashing.
- Dow Jones down 600 points , S&P 500 and Nasdaq were down 2% each.
- This is because Goldman Sachs predicted there would be 4 rate hikes for the year.
- Inflation is expected to be 7.1% which is quite a lot to worry if it happens In reality.
- Due to all this , there was a panic selling in first half
- In the Second half everything recovered and all is well now.
- U.S Futures and Asian markets are higher now.
- SGX Nifty is flat.
- This Wednesday , we will be having lots of news flow in our Markets.
- Inflation data by U.S , Fed statement , IIP Data , Infosys & TCS set to declare results.
- All this will be coming after the Market hours.
- This is making the World Markets jittery.
- Coming to India , we have closed at the highest point of the day yesterday.
- Both on Nifty and Bank Nifty.
- Momentum is so strong on the higher side that even a minor dip is being bought into.
- Yesterday Nifty tested 17900 and Bank Nifty tested 38000 and the dip got bought aggressively.
- Today if we sustain above 18k then we can a rally during the day as many call writers will be stuck.
- Bank Nifty 38k has witnessed huge call writing as well and they will propell markets higher.
- Nifty might Trade between 17900 to 18200 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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