Key Reasons For Nifty 50 Strong Gain
- US markets rally smartly from its low on the back of reopening of their Economy.
- Asian Markets are trading Strongly.
- Nifty 50 has a strong support at 9200 level, A key level to watch.
- SGX Nifty is also trading strong with gain of 147 points at 7:29 A.M.
- Smart late rally in Wall street lifted the sentiment of Asian Markets too. The surge happened on the back of two days sharp fall in US markets. Traders find the level attractive to enter in the market. This has lifted the sentiment.
- Certain state in US have lifted the lock down with restriction. This has resulted into increase in oil prices of WTI above $20 per barrel.
- Trump on Sunday stressing on reopening of US economies is positive for standstill economical activities. Resulting in job losses above 30 million in US.
- Tariff war is re-emerging between US & China, highlighted from the Trump’s comment. This is a key risk to markets as it may put brakes on the economical growths. So investors are trading with cautious.
- Dow Jones Industrial Average gained by 26.07 points, or 0.11%, close at 23,749.76.
- The S&P 500 seen upside of 12.03 points, or 0.42%, ends at 2842.74.
- Nasdaq Composite Index increased by 8710.72 points, or 1.23%, close at 8,710.72.
Asian Markets In Morning
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Nifty 50 outlook for the day.
- Indian Markets have seen a worst day on Monday. The benchmark indices lost more than 5% in single trading day. The reason for the fall is weak domestic economical data and a start of Trade war between US& China. Signaled by US President Donald Trump.
- Nifty has a strong support at 9200 level. This is a crucial level to hold that will indicate that Uptrend is intact.
- Today SGX Nifty is suggesting a good start four our markets. The Nifty will open near 9350-9400 level. This may fuel the sentiment on positive side. The target of the day is 9500 level and stop loss at 9250 level. Trade near this stop loss if you get a dip on opening.
- So strategy is to go long on Nifty Future. Buy on Dip is strategy for the day.