- U.S Markets closed higher yesterday.
- Right now Dow futures are higher.
- Asian Markets are higher.
- SGX Nifty is up 100 points.
- Yesterday Nifty witnessed resistance near 17800 for whole of the expiry.
- Today it's indicating a gap up above 17800.
- 17800 to 18000 should be the range now .
- 18000 CE has the highest open interest amoung weekly options.
- This would be the next resistance level now.
- Markets right now seems to be ignoring all the negatives.
- But this is a high volatile market.
- So stoploss is a must when trading in such markets.
- 17800 should be a good support for Intraday now.
- I would like to buy the dip close to 17800 and sell the rally close to 18000 with 30 point stoploss.
- If any of these levels gets taken out decisively will follow the trend.
- Until then it's a ranging market.
- With sideways moves.
- Fridays are volatile so trade based on strict stoploss
- Nifty might Trade between 17800 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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