- U.S Markets closed higher Yesterday.
- Dow futures are higher right now
- Asian Markets are higher.
- SGX Nifty is up 40-50 points.
- U.S VIX is now below 30.
- India VIX closed below 18 significantly yesterday.
- As expected, Global Markets have made a short term bottom after the Inflation numbers.
- Indian local cues have also been Positive.
- Majority of the Corporate results have been above expectations.
- Previously, there was a tug of war between bad Global cues and good local cues.
- During such situations, markets traded violently within a range.
- Now the Global cues have come in favour.
- Markets are now trading at swing highs.
- Further upside cannot be ruled out from here.
- If you are trying to go long near these levels then your stoploss should be tight.
- 17400 is the immediate stoploss for Intraday traders.
- Yesterday during Market hours there was something interesting developing.
- 17600 PE was being written aggressively which is an ATM Option.
- This shows the Confidence of the option writers.
- I have sold Monthly Puts below 17200 and monthly calls above 17900.
- Will do Adjustments accordingly based on market moves.
- My bias is Bullish right now.
- 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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