- U.S Markets closed mixed Yesterday.
- Right now , Dow futures are higher.
- Asian markets are slightly higher
- SGX Nifty is up 20-30 points.
- Yesterday was a total surprise from the markets.
- Nifty was Indicating a gap down close 17750 but markets opened above 17800 and continued to move higher.
- Bank Nifty rallied 1400 points from the day low.
- Nifty rallied 250 points from the days low.
- All this happened against the Global trend.
- This isn't the first instance where this has happened.
- In September itself , when Fed Chairman expressed his concerns over Inflation , Nifty made a 300 point gap down.
- Entire loss was wiped off the next day.
- Bank Nifty is actually on steroids.
- It's just 200 points away from all time highs.
- All the Banks are flying.
- FII's sold for 1400 cr yesterday and DII's bought for 150 cr.
- There was a net outflow of 1250 cr and still the markets closed higher.
- IT Index crashed 3% yesterday.
- I expect that markets are factoring something ahead of time.
- Which we probably do not know yet or may know later.
- Only Indian markets rallying against global trend makes me say so.
- 17900 , 17800 PE have been sold aggressively.
- 18100 , 18200 CE have been written aggressively.
- Markets are pricing in a ranging expiry as of now.
- Nifty might Trade between 17900 to 18140 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
Comments