- U.S Markets closed lower Yesterday.
- Dow futures are flat right now
- Asian Markets are mixed.
- SGX Nifty is flat.
- We are likely to open very flat today.
- Yesterday I had suggested to buy the dip with a stop of 17400.
- This trade worked out exceedingly well.
- Markets have provided a sharp dip yesterday and closed at the highest point of the day.
- This indicates the trend of the Market.
- The trend is strong on the upside.
- Any dip is a buying opportunity.
- In spite of U.S Markets closing lower yesterday, U.S VIX fell.
- It fell about 3%.
- This indicates there is limited downside in the Market.
- 17400 to 17600 is the range for Nifty currently.
- Markets are expected to be ranging within this range.
- Trending move likely to begin only if any of the above level gets taken out decisively.
- Until then you have to trade the range.
- Trend is positive, so look to buy on dips.
- Nifty might Trade between 17420 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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