- US markets closed at another record high.
- But Indian markets are facing its own issues.
- Yesterday was one of the worst volatile days.
- Bank Nifty was making more than 300 points move at times.
- Yesterday, lot of traders had issues with trading.
- The margins were not showing properly , there was loss being showed on screen
- Many traders pledged but system was not reflecting any limit.
- In last 15 minutes, there was short covering.
- Both Nifty and Bank Nifty spot did not move but Nifty and Bank Nifty futures moved higher.
- Nifty future closed more than 50 points higher than the spot and Bank Nifty future more than 100 points.
- That is a positive sign.
- Dollar index was below 92 yesterday but now above 92.
- Rupee appreciated yesterday due to dollar index, it was trading below 73,(helped to sustain and moveup yesterday )
- FIIs, after selling for more than Rs 3000 crores the day before yesterday due to MSCI rebalancing, turned net buyers.
- But DIIs have turned net sellers.
- Most of the Asian markets are higher.
- But Hong Kong is down, after seeing Hong Kong markets, SGX Nifty also down by 30 points from intraday high of 11546.
- Yesterday metal stocks were up significantly.
- Today the focus will be the Supreme Court hearing about Moratorium and Interest on Interest waiver case.
- But going by the track record, the verdict may not come today.
- Even the AGR case was dragged until just one day for the judge to retire.
- Volatility due to new pledging system may continue for next few days.
- Nifty future may trade between 11420 and 11600.
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