Good Morning Everyone,
Hope you guys has did good in yesterday trading session and made some good breads in Intraday. Index moves are hard to predict in these days because of massive gap up and gap down Opening.Government tries their best to not let the market down but Market sentiment rejected there every attempt. This lock down is not gonna ending soon and Industries take time to recover after it. Market is in fear and real picture will be come after the lock down. This recession is not going to end soon ..Let's Talk the key factors which can affect on our market.
Key Factors
==================
1- SGX showing a weak strength and trading on 9182 which is 64 Point up from the previous closing. aspect a 34-40 Point gap up in Nifty 50 Index.
2-The brokerage expects real GDP growth in 2020 to fall to 5 per cent YoY. It expects India’s GDP to expand 1.5 per cent in March quarter, degrow 14.5 per cent in June quarter, shrink 6 per cent in September quarter and another 1.5 per cent in December quarter.
3- DOW and US shares drop on US-China trade fears
4-Crude is still Trading in a narrow range.
5-INR/USD is still steady.
Quarterly results
==================
Cipla, Crompton Greaves Consumer and L&T Finance Holdings, Mahindra & Mahindra Financial Services, Nippon Life Asset Management, Tata Chemicals, L&T Technology Services, IIFL Securities: These companies are scheduled to announce their March quarter earnings on Friday
Technical View
====================
Bear is still on Fire and Market sentiment is Negative. Government tries their best to control this recessions but every attempt is rejected from the Market. Nifty is made again a Head and shoulder pattern in hourly time frame . Neck Line of this H&S pattern is 9000 which is also a key support in mid time frame . Mostly Intraday moves come with a Gap up and Gap down and these move destroy most of Intraday Levels.
Resistance : Nifty Intraday Resistance is on 9350-9360 and major resistance area is 9900.
Support : Nifty Intraday and Major Support is on 9,000.
Intraday Trade Setup
=====================
Long Position : In Intraday long position comes if Index break 9350 and sustain above on this Price.
Short Position : Keep an eye on 9000 A good short coming on breakdown.
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take the different view and opinions.
Good Luck and Happy Trading
Virendra Pandey
Hope you guys has did good in yesterday trading session and made some good breads in Intraday. Index moves are hard to predict in these days because of massive gap up and gap down Opening.Government tries their best to not let the market down but Market sentiment rejected there every attempt. This lock down is not gonna ending soon and Industries take time to recover after it. Market is in fear and real picture will be come after the lock down. This recession is not going to end soon ..Let's Talk the key factors which can affect on our market.
Key Factors
==================
1- SGX showing a weak strength and trading on 9182 which is 64 Point up from the previous closing. aspect a 34-40 Point gap up in Nifty 50 Index.
2-The brokerage expects real GDP growth in 2020 to fall to 5 per cent YoY. It expects India’s GDP to expand 1.5 per cent in March quarter, degrow 14.5 per cent in June quarter, shrink 6 per cent in September quarter and another 1.5 per cent in December quarter.
3- DOW and US shares drop on US-China trade fears
4-Crude is still Trading in a narrow range.
5-INR/USD is still steady.
Quarterly results
==================
Cipla, Crompton Greaves Consumer and L&T Finance Holdings, Mahindra & Mahindra Financial Services, Nippon Life Asset Management, Tata Chemicals, L&T Technology Services, IIFL Securities: These companies are scheduled to announce their March quarter earnings on Friday
Technical View
====================
Bear is still on Fire and Market sentiment is Negative. Government tries their best to control this recessions but every attempt is rejected from the Market. Nifty is made again a Head and shoulder pattern in hourly time frame . Neck Line of this H&S pattern is 9000 which is also a key support in mid time frame . Mostly Intraday moves come with a Gap up and Gap down and these move destroy most of Intraday Levels.
Resistance : Nifty Intraday Resistance is on 9350-9360 and major resistance area is 9900.
Support : Nifty Intraday and Major Support is on 9,000.
Intraday Trade Setup
=====================
Long Position : In Intraday long position comes if Index break 9350 and sustain above on this Price.
Short Position : Keep an eye on 9000 A good short coming on breakdown.
Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take the different view and opinions.
Good Luck and Happy Trading
Virendra Pandey
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