Daily market commentary - March 19, 2020 - Bonanza Portfolio

Mr. Vishal Wagh, Research Head

"Market opened with a very bearish sentiment and further sell-off seen in the first 15 minutes of trade. For a brief period, Nifty came under psychological level of 8000. Bulls took advantage of this golden opportunity and fought back. By 2 pm the market was in the green with a gain of more than half percent, due to sharp recovery in Dow futures. In the last hour of trade, bears pushed Nifty towards 8200 levels and finally, it closed with a loss of more than 2% for the day. A rumour of 'US market will be closed for couple of trading sessions' was in social media. If it happens, that will trigger similar action by other stock exchanges globally. Market will be volatile as there will be possibility of news flow from both sides. The trader should trade with proper hedging tools to minimize the risk."

Source : Equity Bulls

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