Daily Market Commentary - Sep 1, 2020 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

Market started the day on a positive note despite weak cues from the US and the Asian market was a mixed bag. Though there is very big volatility both the site of the wind. In the process, the market remained between the range of yesterday i.e. 11325-11794. It managed to close down in green with gains around 0.90%.

Post supreme court verdict on AGR Bhartiairtel zoomed gained by more than 6.5% whereas IDEA lost nearly 10%.

In Nifty, JSWsteel, Bharti, Hindalco, Bajfinance and Asianpaints remained the first five gainers. Whereas, major losers were Infratel, ONGC, Axisbank, Adaniport and Techm major draggers.

Market breadth remained Neutral. India Vix corrected by more than 5% closed below 21.50.

Going forward, major support will be seen around 11325 and Resistance will be 11800.

Source : Equity Bulls

Keywords