- U.S Markets closed higher on Thursday & Friday.
- Markets all over the World have witnessed heavy short covering over last 2 weeks
- Right now Dow futures and Asian markets are lower.
- SGX Nifty is up 100 points
- There's not much news over the weekend.
- War doesn't seem to be ending anytime soon.
- Markets ignoring the War and focusing on economy.
- Crude Oil slips below 100$/barrel
- This is a very positive news for India.
- There are reports stating India is buying crude oil from Russia at a cheaper price.
- 25-30$/ barrel cheaper crude oil is being offered to India by Russia this positive sentiment has driven market higher.
- Fed rate hike also seems to be factored in and Market is looking ahead
- Now the focus is on Corporate results and earnings.
- Next month we would start getting corporate results so those would be in focus.
- U.S VIX has dropped more than 10% in last 2 trading sessions.
- This indicates stability in the Market and we might not have huge gap ups or gap downs once VIX goes below 20.
- 17000 PE has added huge open interest both in monthly and weekly options
- Expecting this to act as a very good support going closer to expiry.
- Nifty might Trade between 17200 to 17500 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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