- U.S Markets closed lower Yesterday.
- During our Trading hours , U.S markets were lower by 1.5% on all Indices.
- This was due to rise in Bond Yields and Crude prices.
- Dow futures and Asian markets are lower now.
- SGX Nifty is down 20-30 Points.
- Yesterday during trading hours news broke out that FM Nirmala Sitharaman is going to address an Important economic issue
- People were anticipating some reforms due to COVID.
- But it was actually more of Political one than Economical.
- This has even more dented the sentiment of investors.
- Bajaj Finance came up with excellent results yesterday.
- Yesterday was a high volatile trading day.
- Nifty tested 18350 and then reversed significantly.
- Today as well there would be weakness in the Markets
- 18000 is a strong support both on weekly and monthly basis.
- This should provide cushion.
- 38000 is a strong support on Bank Nifty.
- We are likely to open near 38k on Bank Nifty.
- Texture is weak now until global Markets recover.
- Nifty might Trade between 18000 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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