- U.S Markets closed lower yesterday.
- Right now Dow futures are slightly higher.
- SGX Nifty is flat.
- Nifty is likely to have a flat opening today.
- This flat SGX has become regular affair now but market not respecting SGX.
- Opening is not as per what SGX is indicating since many days.
- Yesterday nifty broke 18200 and traded below it throughout the day.
- This indicates bearishness in the market.
- The bearish view is for the current expiry itself.
- Next support would emerge at 18000.
- Momentum towards the upside seems lacking now.
- India VIX is below 15 steadily.
- Nasdaq has started to break into pieces.
- This has again triggered a sell off in Indian IT stocks.
- Bank Nifty outperformed nifty yesterday.
- Nifty underperformance is majorly due to IT stocks.
- Many ultra rich businessman are laying of staff and are anticipating a recession.
- Jeff bezos even said it openly about the same.
- Nobody knows in certainty what the future holds but going by current facts India is the least likely to face recession.
- We may follow Global markets and events in short term.
- Fundamentals would Take over later
- Nifty might trade between 18000-18300 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
Comments