Daily Market Commentary - June 19, 2020 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

Despite mixed bags, the global cues domestic market open in green and carry forward yesterday's bull run. Reliance, Banking, and NBFC remained the showstopper. Strong money flow in the market kept it in the green. Markets discounted the geopolitical tensions with the neighborhood.

Market breadth remained strongly in favor of bulls. For every loser, there were more than three gainers. An exception of Nifty IT & metals all sectoral indices closed in the green. India VIX contracted by more than 5% closed above 29, USDINR trading at 76.15.

Going forward, major support will be seen around 9950 and Resistance will be 10328.

Source : Equity Bulls

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