@AlliesFin
Nifty expected to open near flat zone after a big sell off yesterday. Watch for near term support of 11194 for markets to recover part of losses.
Bank Nifty that has underperformed the other sectors may see support close to 21031.
US markets also saw stocks falling on risk off trade amidst rising cases of Covid-19 and fears of some shut down in Europe. Markets post opening sell off had a mixed day as technology stocks recovered most of the intra day losses helping Nasdaq close near flat line. Dow and S&P however failed to recover fully and closed in red. Russell 2000 was a marked underperformer with close to 3.35% losses.
The risk off trade helped $ index to move higher above 93.5, 10 year to fall near 0.67, vix moving towards 28, crude futures falling; WTI below 40 and Brent near 41.
Watch for some volatility before markets settle down to start a new journey, factors like rising corona cases, geopolitical uncertainty, doubts over stimulus package in US and back home in India may add to near term volatilty.
As an investor use the volatility to move into some of the future winners once the dust settles over the near term uncertainty.
By: via @AlliesFin Serve Stock Market
