SGX Nifty Suggest a strong opening, as PM Modi Unveils Rs. 20 lakh crore package.

Factors on which Nifty will react today.

  • U.S markets fallen sharply on Tuesday, on warning issued by Dr. Anthony Fauci, nation top infectious disease curve. As U.S. is opening the economy so fast will result in spread of corona visus cases.
  • Federal reserve started purchasing the corporate bonds and ETFs to support their economy.
  • Asian Markets are weak on fear of second wave of infection.
  • India unveils Rs 20 lakh crore to support economical actives, the size of package is 10% of Indian GDP.
  • SGX Nifty suggest a positive start.

  • Wall Street tumbled with deep cut as the investor fears that second wave of infection can hit their economy sharp. United States, infectious disease expert Dr. Anthony Fauci, warns that states are re-opening at fast pace. This can bring more suffering to people due to spike in corona virus cases.
  • U.S. Federal Reserve started purchasing the corporate bond and bond ETFs to support their economy.
  • Asian Markets are facing the heat this morning. As most of the indices are trading in red. As investors fear second wave of infection.

U.S Markets

  • Dow Jones Industrial Average declined by -457.21 points, or -1.89%, close at 23,764.78.
  • The S&P 500 seen downside of -60.20 points, or -2.05%, ends at 2870.12.
  • Nasdaq Composite Index decreased by -189.79 points, or -2.06%, close at 9,002.55.

Asian Markets In Morning

IndicesCurrent ValuePrev. Close% Change
Nikkei 22520.201.2820366.48-0.81%
Straits Times2,569.382587.81-0.71%
Hang Seng  24,203.5524245.68-0.17%
Taiwan Weighted10,839.5910879.47-0.37%
Jakarta Composite4,522.424588.73-1.45%
Shanghai Composite2,878.902891.56-0.37%
SGX Nifty 9,431.509176.00 2.78%
Time of data collection: 7:38 A.M

Nifty 50 outlook for the day.

  • SGX Nifty is suggesting that Indian Markets will start at around 9400 level. Today strategy is to buy Nifty future with a target of 9550 level and stop loss of 9350.
  • Yesterday PM Modi unveiled Rs 20 lakh crore package for Indian economy. The size of the package is 10% of Indian GDP. This will support the MSME sector, Farmers and other key pillars of the Indian economy.
  • Yesterday Indian Prime Minister hinted for further relaxation of Indian economy.

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