Morning Update : 5 May 2020
*Pivot Point*
key support level for Nifty is placed at 9,195.8, followed by 9,098.1. If the index starts moving up, key resistance levels to watch out for are 9,462.35 and 9,631.2.
Nifty Bank closed 8.32 percent down at 19,743.75. The important pivot level, which will act as crucial support for the index, is placed at 19,414.8, followed by 19,085.8. On the upside, key resistance levels are placed at 20,301.6 and 20,859.4.
*US Markets*
US stocks ended higher on Monday as increases in large tech and internet companies and oil price gains outweighed concerns about the latest US-China tensions and downbeat sentiment from the annual meeting of Warren Buffett's Berkshire Hathaway. The Dow Jones Industrial Average rose 26.07 points, or 0.11%, to 23,749.76, the S&P 500 gained 12.03 points, or 0.42%, to 2,842.74
*Oil prices rise on demand prospects as lockdowns start to ease*
*India's April gold imports plunge 99.9% to three-decade low: government source*
*FII and DII data*
Foreign (FIIs) and domestic institutional investors (DIIs) sold shares worth Rs 1,373.98 crore and Rs 1,661.61 crore,
Today's Market at 7:58 am US Market Nasdaq = +105.77 Dow Jones = +26.07 European Ftse 100 = -9.28 Cac 40 = -193.95 Dax = -394.84 Asian Nikkei 225 = -574.34 Straits Times = +30.17 Hang Seng = +181.71 Taiwan weighted = +111.12 Kospi = -52.19 SGX Nifty = 9392.5(+152.50)
Good News : 1. Govt giving funding to NBFCs.
Bad News:
1. Corona Infected person list reach above 36.5 lakhs
2. More than 2,52,393 person died in world due to corona
3. In India, corona infected person list cross 46437
4. Yesterday 3932 new cases came, it means in less than 10 days we cross 1 lakh cases
My VIEW: Nifty has big support at 9200, above 9200 we are positive Govt daily try their best to recover market.Opening Liquor shops is red flag for India, it will increase cases more rapidly. Also, increased cess on Alcohol, will come heavily on Liquor Companies heavily.