Morning Update : 4 May 29
This week is unexpected to be the same as last week as there could be a knee-jerk reaction to weak global cues amid fears of another United States-China trade war and disappointing HUL earnings.
*Pivot Points*
the key support level for Nifty is placed at 9,764.58, followed by 9,669.27. If the index continues moving up, key resistance levels to watch out for are 9,922.13 and 9,984.37
Bank Nifty important pivot level, which will act as crucial support for the index, is placed at 21,269.8 followed by 21,005.1. On the upside, key resistance levels are placed at 21,883.1 and 22,231.7
*US Markets*
Wall Street sold off sharply in Friday after President Donald Trump revived a threat of new tariffs against China in response to the COVID-19 pandemic, which has brought global economies to a grinding halt. All three major US stock averages closed down well over 2%, and for the week they all lost ground.
The Dow Jones Industrial Average fell 622.03 points, or 2.55%, to 23,723.69, the S&P 500 lost 81.72 points, or 2.81%
Global Market at 7:20 am
US Market
Nasdaq = -284.60
Dow Jones = -622.03
European
Ftse 100 = -138.15
Cac 40 = -98.93
Dax = -246.10
Asian
Nikkei 225 = -574.34
Straits Times = -63.90
Hang Seng = -848.83
Taiwan weighted = -318.21
Kospi = -36.30
SGX Nifty = 9313(-2)
On 30th April
Fii buys 1968.8 crore stocks
Dii buys 579.03 crore stocks
Good News :
1. Online shopping is starting
2. FIIs buy stocks from last 2 days
Bad News:
1. Corona Infected person list reach above 35 lakhs
2. More than 2,48,245 person died in world due to corona
3. In India, corona infected person list cross 42505
5. Daily 2800 new cases in India, it means in less than 20 days we cross 1 lakh cases
6. Increase in Lock down period is bad for all sectors
7. America is going to start Trade War again with China
8. Zero sale in auto sector last month
9. As states are opening manufacturing sector, corona list will start increase rapidly and we will soon reach 1 lakh corona patient
10. Warren buffet sell all his airlines stocks, he is also bearish for market
Today's VIEW: Nifty has big support at 9200, below 9200 again Negative Sentiments start
Today sentiments for all sectors are bad as result of every companies are coming bad.