Coronavirus fear continue on the street as indices were down by 13% biggest single day fall. Indian equity markets failed to show any recovery after trading resumed post the first circuit limit. Both Sensex and the Nifty ended with their worst ever one-day decline.nifty closed 230 points down at 8967 & sensex ended 811 points down at 30579. This was on back of the government imposing lockdown in 75 districts all over the country to mitigate the threat of rising coronavirus cases. Overseas, trend was majorly bearish amid rising number of COVID-19 cases, creating liquidity crisis, supply disruptions and chances of a prolonged global recession.
It looks like bulls not having mood to comeback in the groud. extreme lockdown measures taken by government in India and world over has put immense pressure in investor sentiment. India has reached a crucial phase where it can either go China or Italy’s way. Already a spurt in virus toll in Europe and the US has rattled markets across Wall Street to Dalal Street. Curbs Sebi imposed in cash and F&O segments of the market may prove insufficient to tame volatility. Only a fall in coronavirus cases can save the Dalal Street from a further beating.
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It looks like bulls not having mood to comeback in the groud. extreme lockdown measures taken by government in India and world over has put immense pressure in investor sentiment. India has reached a crucial phase where it can either go China or Italy’s way. Already a spurt in virus toll in Europe and the US has rattled markets across Wall Street to Dalal Street. Curbs Sebi imposed in cash and F&O segments of the market may prove insufficient to tame volatility. Only a fall in coronavirus cases can save the Dalal Street from a further beating.
More about intraday tips on Google +
Resistance: 9500, 10000
Support: 8500, 8000
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