Today’s Action
Nifty, -7.6%; Sensex, -7.9%; Nifty Midcap, -6.3%; Nifty Smallcap, -6.4%; Model Portfolio, 0%
Daily Market Review
Market Pulse Downtrend
Nifty opened lower as the coronavirus spread intensified during the weekend. It made an intraday low of 9,165 and closed in the bottom quartile of the day’s range. The volatility index continues to rise further and is at record levels since 2008.
Continue reading “Daily Big Picture:Nifty takes another hit as PSU Bank and Metal stocks dip 40%”
Weekly Action
Nifty, -9.4%; Sensex, -9.2%; Nifty Midcap, -10.8%; Nifty Smallcap, -13.2%; and Model Portfolio, -10.6%.
Market Pulse: Downtrend
Weekly Market Review
Before we discuss the historic dramatic move of today’s session, let us first reiterate how the week went.
On Monday, after floundering for most of the day, markets recovered mildly in the last hour to close with still heavy losses on higher volume. Nifty pierced August 2019 lows and made a fresh 52-week low. Brent crude price has declined sharply to less than $35 per barrel with Russia and Saudi Arabia preferring volume over value strategy.
Daily Market Review
Market Pulse : Downtrend
Nifty gapped lower and remained under heavy selling pressure through the day. After breaching 10,000, Nifty made a low of 9,509 and closed into the bottom quartile. Nifty undercut day one low of an attempted rally and made a new low. The count for an attempted rally resets. We will wait for a blue or pink rally day to consider day one of an attempted rally. The volatility index hits the highest level since 2008.
Continue reading “Daily Big Picture:Today’s share market tips, as NIFTY dips 20%”
Daily Market Review
Market Pulse: Downtrend
Nifty attempted a brief relief rally but failed to hold gains. After opening higher, markets were volatile through the day, and closed flat. As Nifty closed briefly in the green and in the upper half of the day’s range, today’s action will be considered as a day one of an attempted rally. Hereon, we will look for today’s low (10,338) to hold for another two days before changing the market status to a Rally Attempt. If that happens, we will be looking for a follow-through day.
