- U.S Markets closed higher Yesterday.
- Asian markets are slightly higher too.
- SGX Nifty is up 80-100 points
- Yesterday was kind of a rangebound session.
- Institutional activity was quite less
- FII's after continuous selling finally bought yesterday.
- Even though the amount isn't that significant of 500 crores thereabouts.
- 17600 short straddle has the highest open interest for today expiry.
- Calls and Puts have been sold at every level.
- This Indicates traders are not expecting a big move on the expiry day
- Due to any reason once market makes a big move then these writers will be in trouble.
- U.S Markets for very short run seems to have bottomed out.
- There was a ferocious selling in 3 days Nasdaq fell 6%.
- Dow Jones and S&P 500 also fell.
- From last two trading sessions situation has been stabilized.
- I feel today might be a consolidation expiry.
- August month has been very good for Bulls.
- Though Nifty was unable to cross 18k.
- This Month has given positive returns on index basis
- Nifty might Trade between 17500 to 17800 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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