SGX Nifty is showing worst start on Monday

Today Indian markets will open with a deep cut and will straight away hit the lower circuit. As global cues are not supporting a postive start and SGX Nifty is trading with cut of 10% in the morning. This will make things worst as market has already fallen by 30% to 35% in last 40-50 days.

Incase, SGX Nifty breaks the 7860 level then it has high chances to move 6800 level in near future. The Nifty 7860 level is important level as the market has found support in December 2016. From here markets have moved to 12400 level in January 2020.

So that is why this is most crucial level? And in case, it breaks this level then next support is at 6800 level. Really things are scary and the way levels are breaching has proved fatal for long term portfolios.

NIFTY TECHNICAL CHART

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In last two days, the corona virus cases are increasing in our country at a rapid pace. This will create a negative sentiment in the stock market and chances of breaking the 7865 level is quite high. On Sunday, In India the corona virus cases has surged to 396 – the highest increase in last 24 hours.

Covid-19 has proved to be party spoiler for the bull market. This event has put the economic activities standstill. The companies have advised the employees to work from home in this tough time. No body is willing to spend money on non essential items in the present scenario. It will be difficult for the policy makers to put the economy in growing phase in near future. That is what making the markets nervous and leading this fall. It will take at least two quarters for the economy to come out of this problem as things are really gloomy.

CORONA VIRUS CASES AROUND THE WORLD

This is a global issue and impacting the whole world . The number of corona virus cases have surged in many parts of world. The epicenter of the disease has moved from China to Europe and the way it is spreading is really scary. The major countries that are impacted are: China, Italy, USA, Spain, Germany, Iran, France, South Korea and Switzerland. That is why markets around the world have fallen sharply and Indian markets are showing the same weakness. Things will improve only if the scientist are able to manufacture vaccine that can cure the disease . This is the right time, one should build long term portfolio in a systematic manner. In our previous post, we have already disclosed long term portfolio (https://mutualfundadvisory.info/2020/03/18/stock-correction-can-be-looked-as-an-opportunity-to-buy-quality-stocks-in-systematic-manner-with-next-12-months/). As bear markets give opportunity to create a long term portfolio, since stock prices are depressed.

Have a look on the corona virus data compiled for different countries from website https://www.worldometers.info/coronavirus/coronavirus-cases/.

CountriesTotal CasesNew CasesTotal DeathsNew DeathsTotal RecoveriesActive CasesSerious Cases 
China8109339327097270351201749
Italy59138 5476 7024466383000
USA33546 419 17832949795
Spain28768 1772 2575244211785
Germany24873 94 2662451323
Iran21638 1685 791312040 
France16018 674 2200131441746
S. Korea89616411173166568459
Switzerland7474 98 1317245141
UK5683 281 93530920
Netherlands4204 179 24023354
Austria3582 16 9355715
Belgium3401 75 2633063288
Norway2385 7 6237228
Sweden1934 21 16189776
Australia1629207 88153411
Portugal1600 14 5158126
Brazil1546 25 2151918
Canada1470 20 1414361
Denmark1395 13 1138142
Malaysia1306 10 139115726
Turkey1236 30  1206 
Czechia1120 1 6111319
Japan1101 41 23582549
Israel1071 1 37103318
Ireland906 4 589729
Luxembourg798 8 67843
Ecuador789 14 37722
Pakistan776 5 13758 
Diamond Princess712 8 56713715
Poland634 7 136143
Chile632 1 86237
Finland626 1 1061512
Greece624 15 1959018
Thailand599 1 445547
Iceland568 1 55621
Indonesia514 48 29437 
Saudi Arabia511   17494 
Qatar494   334616
Singapore455 2 14430914
Romania433 3 6436614
Slovenia414 2  41212
India396 7 24365 
Philippines380 25 153401
Russia367 1 16350 
Peru363 5 13575
Bahrain334 2 1491833
Egypt327 14 56257 
Estonia326   43222
Hong Kong318 4 1002144
Panama313 3 13097
South Africa274   2272 
Argentina266 4 27235 
Croatia254 1 52485
Mexico251 2 42451
Lebanon248 4 82364
Iraq233 20 57156 
Colombia231 2 3226 
Serbia222 2 22184
Dominican Republic202 3  199 
Algeria201 17 65119 
Armenia194   21926
Kuwait188   301585
Bulgaria187 3 31813
Slovakia185   71782
San Marino175 20 415113
Taiwan169 2 28139 
Uruguay158    1582
UAE153 2 381132
Lithuania143 1 11411
Latvia139   1138 
Costa Rica134 2 21302
Hungary131 6 161096
Bosnia and Herzegovina126 1 21231
Morocco115 4 31081
North Macedonia115 1 11131
Faeroe Islands115   3112 
Andorra113 1 11112
Vietnam113   17962
Jordan112   1111 
New Zealand102    102 
Cyprus95 1 3913
Moldova94 1 1923
Malta90   2881
Albania89 2 2852
Brunei88   2862
Cambodia84   282 
Sri Lanka82   3792
Belarus76   1561 
Burkina Faso75 4 566 
Tunisia75 3 1717
Ukraine73 3 169 
Venezuela70   15552
Senegal67   562 
Azerbaijan65 1 1153 
Réunion64   163 
Kazakhstan60    60 
Palestine59   1742 
Guadeloupe58 1  574
Oman55   1738 
Georgia54   1531
Trinidad and Tobago50    50 
Martinique44 1  437
Uzbekistan43    43 
Afghanistan40 1 138 
Cameroon40   238 
Liechtenstein37    37 
Cuba35 1  34 
Channel Islands32    32 
DRC30 1  29 
Nigeria30   228 
Mauritius28 2  261
Bangladesh27 2 322 
Guam27 1  26 
Honduras26    26 
Bolivia24    24 
Ghana23 1  22 
Puerto Rico23 1  22 
Monaco23   122 
Paraguay22 1  211
Macao22   1012 
Montenegro21    21 
Guatemala19 1  18 
Guyana19 1  18 
Jamaica19 1 216 
Rwanda19    19 
French Guiana18    18 
French Polynesia18    18 
Togo16    16 
Gibraltar15   213 
Kenya15    15 
Barbados14    14 
Ivory Coast14   113 
Kyrgyzstan14    14 
Maldives13   310 
Tanzania12    12 
Ethiopia11    11 
Mayotte11    11 
Mongolia10    10 
Aruba9   18 
Seychelles7    7 
Bermuda6    6 
Equatorial Guinea6    6 
U.S. Virgin Islands6    6 
Gabon5 1  4 
Isle of Man5    5 
Saint Martin5    5 
Suriname5    5 
Bahamas4    4 
Greenland4    4 
New Caledonia4    4 
Eswatini4    4 
Cayman Islands3 1  2 
Curaçao3 1  2 
Cabo Verde3    3 
CAR3    3 
Congo3    3 
El Salvador3    3 
Liberia3    3 
Madagascar3    3 
Namibia3    3 
St. Barth3    3 
Zambia3    3 
Zimbabwe3    3 
Sudan2 1  1 
Angola2    2 
Benin2    2 
Bhutan2    2 
Fiji2    2 
Guinea2    2 
Haiti2    2 
Mauritania2    2 
Nicaragua2    2 
Niger2    2 
Saint Lucia2    2 
Nepal1   10 
Antigua and Barbuda1    1 
Chad1    1 
Djibouti1    1 
Dominica1    1 
Eritrea1    1 
Gambia1    1 
Grenada1    1 
Vatican City1    1 
Montserrat1    1 
Mozambique1    1 
Papua New Guinea1    1 
St. Vincent Grenadines1    1 
Sint Maarten1    1 
Somalia1    1 
Syria1    1 
Timor-Leste1    1 
Uganda1    1 
Total:33755312314654169888422401510553

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