Key Reasons For Nifty to open in green
- Trump signs $484 Billion package to rescue the small business.
- Georgia, a U.S State started to reopen its economy lifted the US Markets stocks.
- Other States in US are also planning to re open their economies.
- This morning Asian markets are trading in positive territory.
- SGX Nifty is poised to start in green territory.
- Today Indian Prime Minister Narendra Modi will have a video conferencing with State Chief Ministers on May 3 lock down review.
Trump signed the $ 484 billion to support the small business along with news that some of the U. S. states are re-opening their economies, has lifted the stocks all around the world. The first state to lift this ban in U.S. is – Georgia. The reason for this optimism is falling corona virus related hospitalization in last 14 days and virus death hit one month low.
Strong U.S. Market Closing On Friday will lift Nifty
- Dow Jones Industrial Average advanced by 260.01 points, or 1.11%, close at 23,775.27.
- The S&P 500 seen upside of 38.94 points, or 1.39%, ends at 2,836.74.
- Nasdaq Composite Index gained by 139.77 points, or 1.65%, close at 8634.52.
Asian Markets Opened Green
|Indices||Current Value||Prev. Close||% Change|
|Nikkei (Apr 27)||19678.87||19262||2.16%|
|Straits Times (Apr 27)||2548.08||2518.16||1.19%|
|Hang Seng (Apr 27)||24221.78||23831.33||1.64%|
|Kospi (Apr 27)||1918.55||1889.01||1.56%|
|Jakarta Composite (Apr 27)||4518.24||4496.06||0.49%|
|SGX Nifty (Apr 27)||9228.5||9141||0.96%|
How to trade this morning as Nifty will open in green?
This morning SGX Nifty is trading in green and is indicating that our markets will open at around 9200 level. There are two positive developments as indicated by economic times:
- 6-month GST payment freeze for worst-hit sectors, a lower rate for realty among Covid options mulled
- PM Modi to collect feedback, decide on road ahead in meet with CMs
This will have another positive development from domestic point of view.
Today strategy is to buy Nifty Future with a target of 9300 and Stop loss at 9150.