- U.S Markets closed mixed Yesterday.
- The day before Yesterday U S Markets rallied.
- We had a trading holiday that day in Indian Stock Market.
- Dow futures are higher right now
- Asian Markets are mixed.
- SGX Nifty is up 300 points.
- Right now it's trading near 17920.
- SGX Nifty Seems to be over reacting.
- We may not open that higher today.
- 17900-18000 are likely to be stiff resistance zones for the day.
- Market texture has changed now.
- Now markets open with a huge gap up or gap down.
- After such gap openings it's likely to be flat.
- Bank Nifty near 42000 is a good shorting opportunity.
- Banking stocks have rallied a lot in past 2 months.
- IT Stocks are eroding wealth.
- There's not much steam left in Banking stocks now.
- When everybody puts money only in few companies that's when it tops out.
- Now we are also trading at the higher band of trading range of 15200 to 18600.
- So going long is not worthy.
- I would be looking for shorting opportunities.
- Nifty might Trade between 17700 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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