- U.S Markets closed lower on Friday.
- In spite of good jobs data markets closed lower.
- U.S Markets were in green for the first half but 2nd half witnessed massive sell off.
- This shows Volatility is again beginning to creep in.
- Right now Dow futures are higher.
- Asian markets are mostly lower.
- SGX Nifty is down 50 points close to 17500.
- As I pointed out earlier I'm bearish on the markets.
- 18000 is the positional stoploss for shorts.
- Another reason for bearishness is Adani group stock prices.
- Once the bubble bursts here it could damage the sentiment of the Market.
- 17200 to 17600 is the short term range for Nifty.
- Expect markets to consolidate within this range for a while.
- Nasdaq has again turned into bearish zone.
- Due to this we are witnessing sell off in Indian IT stocks too.
- FII's after Fed event seem to be confused.
- Sometimes they sell sometimes they buy big and give mixed signals.
- That's the reason I don't expect a big trending move anytime soon.
- Nifty might Trade between 17350 to 17650 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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