Double blow for Stock Markets, Nifty is overbought - Tip TV

Market Strategist Ronnie Chopra says the stock markets are down not only due to hawkish Fed minutes, but also House Speaker Paul Ryan’s comments that tax reform could longer than health care overhaul.

Fed minutes revealed the policy makers may trim the balance sheet later this year. That was a bit of a hawkish surprise for the markets, says Presenter Zak Mir.

Chopra also shares his view on India’s Nifty 50 index, which looks extremely overbought following a stellar rally in the Q1 2017. “The economic impact of demonetization is still being felt”, he adds.

Listen to the full segment to know Chopra’s take on shares in Ashley and political situation in India.

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