- U.S Markets closed flat yesterday.
- Asian markets are mixed.
- Dow futures are slightly lower.
- SGX Nifty is as flat as it can get.
- Yesterday market opened with a big gap up.
- After opening with a big gap up the momentum continued throughout the day.
- Market once again closed at the highest point of the day yesterday.
- Today is the weekly expiry for option contracts.
- Expecting a rangebound expiry.
- With slightly positive bias.
- Nifty IT Is back with a bang followed by Banks.
- Indusind Bank posted results yesterday and it beat Street estimates.
- FII's once again were net buyers yesterday.
- FII's are momentum traders.
- When they start selling they keep selling selling and selling.
- When they start buying they buy buy and buy.
- That's why traders always look at FII figures to get a clue regarding market movement.
- 16600 should be a good resistance for the day.
- Followed by good supports near 16500,16400.
- Nifty might Trade between 16400 to 16620 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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