- U.S Markets closed higher on Friday.
- Right now Dow futures are Flat.
- SGX Nifty is flat.
- Asian Markets are mixed.
- There wasn't any major newsflow over the weekend.
- Nifty on Friday retested 17800 and bounced from this level.
- 18000 is a stiff resistance from here on.
- On Friday bank Nifty closed above 40k significantly.
- Which is quite a Bullish sign for Banks.
- FII's were net buyers on Friday.
- DII's were net sellers.
- FII's shorts now stand at 78% .
- U.S August Inflation data is due tomorrow.
- Markets are likely to be jittery on the back of the Inflation data.
- Until the data gets announced expecting a sideways market.
- SBI has crossed it's 52 week highs & has been fresh all time highs on a daily basis now.
- For Momentum traders and trend followers this is the stock to watch.
- I strongly feel if Bank Nifty has to rally it should be with the help of SBI.
- Nifty might Trade between 17700 to 18000 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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