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The lockdown on the economic front has affected market sentiment. So in the coming days, the economy and the Indian stock market may see a major upheaval.
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Dear Trader…
As expected, The indian stock market closed lower. the country's largest private lender HDFC Bank dropped after another issue hit its banking applications, while rising U.S. Treasury yields renewed concerns of foreign fund outflows.
Indian markets had witnessed higher volatility compared to its global peers as domestic investors turned extra cautious on increasing COVID cases in India and a fall in FII inflows.
FII and FPIs, on Wednesday saw a net purchase of Rs 1685.91 crore in the cash segment. A total of Rs 9343.80 crore was sold against a total purchase of Rs 7657.89 crore. Domestic institutional investors today saw a net sale of Rs 2081.52 crore in the cash segment. A total of Rs 4079.23 crore was sold against a total purchase of Rs 6160.75 crore.
Indian market witnessed across-the-board selling amidst high volatility owing to weak global cues and spike in COVID-19 cases. The second and third wave infections in India and Europe, respectively, are bound to hamper economic recovery.
Indian shares closed sharply lower for a second straight session on Thursday, led by losses in energy and technology companies, due to renewed concerns over the impact of surging corona virus cases on economic growth.
Technically, Markets traded volatile in a range and settled almost negative, in continuation to the prevailing consolidation phase.Traders should continue to accelerate until the previous days continued to break into low swings.
The market has already witnessed a sharp run-up and valuations appear to be quite stretched at the current level, profit-booking at these levels cannot be ruled out and therefore traders should be cautious at these levels.
The lockdown on the economic front has affected market sentiment. So in the coming days, the economy and the Indian stock market may see a major upheaval.
Nifty Future closed @ 14752 as on 31.03.2021
Nifty Future has resistance at 14808 - 14838 Point; above which other resistance levels are at 14888 - 14909 Point with highly Volatile Trend,
Nifty Future has Downside support levels are at 14707 - 14676 Point; below 14676 Point, other support levels are at 14636 - 14606 Point.
I am positive for the next bullish trend only above @ 14808 Point but be with the trend. Let the market decide further moves.
As we are saying from many days, Buying is suggested in falls only...and it's still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now...!!
If Nifty Future crosses @ 14808 Point, again then the upper side target is quite high and it may touch @ 14888 Point in the short term...!!!
Note :- Before Act please refer & agree Terms & conditions, Disclaimer, privacy policy & agreement on www.nikhilbhatt.in
Bank Nifty Future closed @ 33478 as on 31.03.2021
Bank Nifty Future has resistance at 33606 - 33676 Point; above which other resistance levels are at 33737 - 33808 Point with highly Volatile Trend.
Bank Nifty Future has Downside support levels are at 33303 - 33133 Point; below 33133 Point, other support levels are at 32970 - 32808 Point.
I am positive for the next bullish trend only above @ 33676 Point but be with the trend. Let the market decide further moves.
As we are saying from many days, Buying is suggested in falls only...and it's still a better strategy in the given Scenario, regarding Long term positions, it is preferable to remain cautious now...!!
If Bank Nifty Future crosses @ 33676 Point, again then the upper side target is quite high and it may touch @ 33808 Point in the short term.
Note :- Before Act please refer & agree Terms & conditions, Disclaimer, privacy policy & agreement on www.nikhilbhatt.in
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