- U.S Markets closed lower on Friday.
- Right now , Dow futures are lower.
- Asian markets are lower.
- SGX Nifty is flat
- Friday was a day of Bloodbath in our Markets.
- Nifty future high was 18100 on Thursday.
- Yesterday low was 17500.
- This is a fall of 600 points in just a single trading day.
- India is a high beta market.
- When our market goes higher it's super quick.
- Similarly, when markets go lower.
- 17500 is a major support now
- If this is taken out then doors for 17200 open up.
- Markets all over the World are fearful about 100 basis points rate hike.
- This rate hike is likely getting factored in.
- This is a high volatile market.
- The swings are really big.
- Many stocks have turned bearish on Friday.
- Nifty might Trade between 17400 to 17700 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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