Yesterday all the the major indices have closed on positive note which is technical bounce back, after a cut of 30%-35% fall from its highs. Today morning, Asian markets are also in a green territory following the global markets. This has resulted in SGX Nifty in positive territory in morning. Have a look on the data.
Stock Markets around the world are rattled after Covid-19 outbreak and still markets have not formed any base resulting in more pain ahead. Today investors can go long on every dip on “Nifty Future” and look for target of 8500 on Nifty but strict stop loss has to be maintained at 7900 level. This trade is valid for today only and it is very high risky trade as complete texture of the market is negative. Have a look on the Nifty Chart.
Nifty has bounced back from 7900 level.
This is the level created in December 2016. One should trade with cautious as chances of going down is still high as if it breaks yesterday low than next target on downside is 6700 level.
Things are really fragile and trading on long side is too risky as still all the economic activities are stand still and even Prime Minister Modi has proposed “Janta Curfew” in his speech on 19.03.2020. So our suggestion is to build long term portfolio rather than short term trades as you can earn a lot from this price damage. This fall has resulted in price erosion of many quality stocks. Have a look on large cap stocks .
|Symbol||Opening Price on 18March 2020||52week High||52week L0w||% Fall From its High|
This price damage is giving an opportunity to long term investors to create portfolio for next five years. We are recommending the following portfolio that can be accumulated for next 12 months in systematic manner.
|Nippon India||Financial Services|
Refer to our You tube channel for further information