- U.S Markets closed higher yesterday.
- Asian markets are higher.
- Right now Nasdaq and S&P 500 futures are lower.
- This is because Facebook has declared results and it's not as per Expectation.
- Stock is down 20% in the pre open and that's dragging Nasdaq.
- As Nasdaq is a Technology Index.
- Last 4 days has been a fantastic rally in the U.S Markets .
- Last 4 days Dow shot up 1000 points and Nasdaq as well.
- Nifty has also recovered from 16850 to 17800.
- This is again a superb rally from lows.
- I have been saying from 17000 that we have bottomed out at 16850 and budget will cause momentum on the higher side.
- Same has happened.
- 17700 PE of today's expiry has the highest open interest.
- 18000 CE in the monthly options have got highest open interest.
- Range seems to be between 17700 to 18000 for the day.
- 17000 PE has the highest open interest in monthly options.
- Next highest open interest is at 17500 PE.
- The range right now is 17500 to 18000 for a slightly short term point of view.
- Nifty might Trade between 17700 to 17900 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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