Nifty - Technical Analysis:
-NIFTY fell after European markets opened in fears of another lockdown in the UK
-NIFTY was above 11500 but starting falling after FTSE opened and started falling sharply.
-It crossed below 200SMA and broke it with strength. We can expect a little bounce at 11200 before continuing the downtrend.
Market - Driving Factors:
-Market records the biggest single-day fall this month, following global cues. Nifty ended 254 points, or 2.21 percent, lower at 11,250.55.
-47 Nifty stocks close in the red; IndusInd Bank, Tata Motors, Hindalco top losers.
-All sectoral indices are in the red, Volatility Index surges 13%
-Route Mobile makes a strong debut; closes at Rs 651 v/s issue price of Rs 350/share
Nifty - Outlook for Tuesday, 22th September:
With the increasing cases in Europe, the chances of a second wave of coronavirus is pushing investors to book profits. FTSE fell around 3% in the opening due to the fear of second wave. NIFTY has broke the support of 200SMA and fell more than 250 points. We can see some bounce from here and then the selling is expected to continue.
-NIFTY fell after European markets opened in fears of another lockdown in the UK
-NIFTY was above 11500 but starting falling after FTSE opened and started falling sharply.
-It crossed below 200SMA and broke it with strength. We can expect a little bounce at 11200 before continuing the downtrend.
Market - Driving Factors:
-Market records the biggest single-day fall this month, following global cues. Nifty ended 254 points, or 2.21 percent, lower at 11,250.55.
-47 Nifty stocks close in the red; IndusInd Bank, Tata Motors, Hindalco top losers.
-All sectoral indices are in the red, Volatility Index surges 13%
-Route Mobile makes a strong debut; closes at Rs 651 v/s issue price of Rs 350/share
Nifty - Outlook for Tuesday, 22th September:
With the increasing cases in Europe, the chances of a second wave of coronavirus is pushing investors to book profits. FTSE fell around 3% in the opening due to the fear of second wave. NIFTY has broke the support of 200SMA and fell more than 250 points. We can see some bounce from here and then the selling is expected to continue.
