Daily market commentary - March 20, 2020 - Bonanza Portfolio

Mr. Vishal Wagh, Research Head

"Today, Market has shown sharp bounce after breaking 4 days of negative streak. NIFTY IT indices outperformed as compared to other sectoral indices as it soared over 10.5% led by Mind tree, NIIT Tech and TCS. TCS rallies more than 9% followed NIFTY FMCG Indices that gained over 8.77% while NIFTY PHARMA, NIFTY METAL and NIFTY FIN SERVICE were among other performing sectoral Indices, up in the range of 2% to 6%. Market is expecting more fiscal measures to ensure financial stability and specific liquidity window is needed in targeted areas. Nifty's technical supports are placed in the range of 8350-8500 while resistance is at 9000 level."

Source : Equity Bulls

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