Key Highlights reasons for Surged Nasdaq
- A remarkable recovery for Nasdaq from its low on the back of Re-opened US market and hits all time on Tuesday trade.
- Asian Markets are trading with mix trend.
- SGX Nifty is indicating a positive start
Why Nasdaq hit all time high amid corona virus crisis?
- After hitting a low of 6600 level on Mar 23, the indices has gained 44% from its low and hit all time high of 10000 level on Tuesday. Giving investors enormous gain and resulting in fresh start of bull run.
- The reasons can be many starting from pumping of large amount of money both by their central bank along with US government, than re-opening US economy from corona virus pandemic, better than expected US employment for the month of May and many companies are working on finding vaccination for treatment of corona virus.
- This has fulled the US markets in last two months. Many investors have missed the rally and with high liquidity in the economy. Chances of continuation of the trend is high.
- Dow Jones Industrial Average decreased by 300.14 points, or -1.09%, close at 27,272.30.
- The S&P 500 fallen by 25.21 points, or -0.78%, ends at 3,207.18.
- Nasdaq Composite Index increased by 29.01 points, or 0.29%, close at 9,953.75.
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- SGX Nifty is suggesting that Indian Markets will start at around 10,100 level. Nifty is in range bound from last few days and trading in the zone of 9900-10300. Instead of Nifty we are suggesting to trade in BHEL stock. It has given a fresh breakout and we expecting a target of 33.50 and stop loss at 27.50. We recommend you to look at the video and reason why we recommended this stock.
For long term portfolio, Read this article.