Key Reasons For Nifty 50 Positive Opening
- Gilead’s Drug may help to cure corona virus patients suggest by report issued by U.S. National Institute of Health.
- U.S. Federal Reserve maintained near zero key interest rate in latest monetary policy.
- Asian Markets are opened green on these positive development in U.S.
- SGX Nifty is suggesting a positive start.
- Stocks in U.S markets closed with a strong gains after report suggest that Gilead’s Drug on corona virus has positive effect on early treatment of patients. They are recovering fast with the use of this drug suggest reports. This has lifted the sentiments on Wall Street.
- Another development in U.S. Market is the Federal Reserve Policy action to keep interest rate to near zero till the time they do not see recovery of U.S. economy lifted the investor sentiments.
- Many of the states in US are re opening their economy. This has a positive effect on the market sentiment.
- Dow Jones Industrial Average gained by 532.31 points, or 2.21%, close at 24,633.86.
- The S&P 500 seen upside of 76.12 points, or 2.66%, ends at 2939.51.
- Nasdaq Composite Index increased by 8914.71 points, or 3.57%, close at 8,914.71.
Asian Markets In Morning
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Nifty 50 outlook for the day.
- Yesterday Indian Markets have rallied on the back of positive clues. It has significantly closed the previous resistance at 9400 level. This has positive effect on the investor sentiment.
- This Morning SGX Nifty is trading strong and indicating a positive opening of Indian Market. Today Nifty 50 may open at around 9700 level.
- Today strategy is to go long on Nifty Future on any dip. Suggestion is not to trade at opening. Lets the market settle for first 30 minutes and if you get dip near 9600-9630, then go long. Target of the day is 9750 level and stop loss at 9550.