Today, the signs of foreign markets are not good for Indian share markets, which closed with great speed on Tuesday. SGX Nifty is trading near the 11840 close by 50 points. Talking about US futures markets, Dow Futures is trading down by 130 points and Nasdaq Futures is down by 45 points.
Asian markets are also trading with sluggishness. Japan’s Nikkei is down 45 points, Hong Kong’s market Hang Seng is also down 85 points, Straits Times also slipped half a percent.
How are foreign markets tomorrow
The American market has been alarmed by the increasing cases of Corona. US markets closed once again yesterday. The Dow Jones lost 222 points to close at the day’s low, the S & P500 traded almost flat, but the Nasdaq showed a strong 72 points. Yesterday the results of Pfizer came down and Microsoft’s guidance has also disappointed. Yesterday, it has seen buying in IT stocks in US markets, because now work from home culture is being considered to continue.
European markets also continue to decline, European markets have fallen by 1-2%. London’s market FTSE and Germany’s market DAX have lost one percent each, while France CAC40 has lost two percent.
Signal from overseas markets today
In America and Europe, there is an atmosphere of panic due to increasing cases of corona. Its effect is visible on the stock markets of both countries. The matter of relief package in America is now slowly getting colder. It is now believed that the Stimulus package will be discussed only after the elections, so it is no longer a factor for the market. Crude oil fluctuations continue, with Brent crude trading around $ 40 in the Gulf of Mexico, fearing another storm.
Strategy for today
According to Anil Singhvi, Managing Editor, Zee Business, our affiliate channel, ‘Corona cases are increasing in America and Europe. The possibility of a lockdown may affect the economic recovery, there are also presidential elections in America. There is a fear of second wave more than the first wave of Korana, governments will take more precaution, the effect of which can be seen clearly on the markets of America and Europe.
According to Anil Singhvi “Today the support range for Nifty is 11725-11775. The upper range will be 11975-12025, the support range for Nifty Bank is 24250-24350, which is a buy range.” The upper range will be 25000-25200.
Opinion (Cash) at Choice Broking Cipla
Anand Rathi Sec