- U.S Markets closed mixed on Friday
- Right now Dow futures are slightly lower.
- SGX nifty is flat.
- Friday was a high volatility session within a range.
- Nifty moved violently between 15200 and 15400.
- There were huge swings throughout the day.
- India VIX closed flat.
- Right now Asian markets are lower.
- Crypto holders are having pain of their lifetime.
- There is absolute bloodbath in crypto Market.
- Each and every crypto is down 70% from the top now.
- Some are Down even more.
- HDFC Bank ADR was up 4%
- Crude oil cooled off
- All this indicating a possible bank Nifty rally.
- Bank Nifty should outperform Nifty in the short run.
- Expecting an Inside candle day for Nifty today as well.
- Nifty likely to trade within Fridays range.
- Nifty might Trade between 15200 to 15400.
- 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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