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Corona
continues to fear the stock market even Tuesday 17 march 2020 following biggest
one-day routs in history as headlines about the coronavirus outbreak and its
global economic impact whiplashed investor sentiment. The Sensex ended
at 30579, down 811 points while Nifty ended at 8967 levels, down 230
points. The second emergency cut in interest rates by the U.S. central bank in
a fortnight only added to the sense of panic among investors, worried that the
coronavirus pandemic is paralyzing supply chains and squeezing company
finances.
It’s best that investors
stick to their plan, remain focused on the long-term picture, and stay away
from panic markets. Such events are great reminders of the need for a
diversified portfolio, and investors should start looking to build that in
order to mitigate the impact of any such events in the future. Wednesday’s session is likely to see 9200 and
9400 levels act as resistance. Support may come in at 8900 and 8800. The
trading range is expected to stay wider-than-normal over the next couple of
sessions.
More about intraday tips on Google +
Resistance: 9200, 9400
Support: 8900, 8800
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