- U.S Markets closed lower Yesterday.
- Dow futures are lower right now
- Asian Markets are lower.
- SGX Nifty is down 100-120 points.
- We are likely to open straight near support zones of 17400-17450.
- After a good sharp rally for many days , Yesterday was a sort of profit booking day.
- A positive thing from last 1 Month is markets have been trading within range.
- Yes , the Volatility is high but its within a specified range.
- Going forward , I expect the Volatility to decrease.
- Today's dip is a good buying opportunity.
- 17400 should be the stoploss for long traders.
- This turns the risk - reward in favour of Bulls.
- Next week is a truncated one
- There are 3 complete trading sessions for next week expiry.
- Im expecting an inside candle today.
- Inside candle means Nifty might Trade within yesterday range itself.
- Maybe 17400 to 17600 to be today's range.
- If markets trade rangebound today , the premiums of options would erode further.
- Nifty might Trade between 17400 to 17600 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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