NiftyFuture last close : 11994.30
Global market was saw s huge panic selling on Yesterday
CoronaVirus spread in all over markets…….It’s very very dangerous condition now.
Did you know ??……..It’s a BIO-WAR for Human Vs Virus
Global markets closely watch Virus……. But India closely watch Budget
As expected NiftyFuture saw a volatility up and down almost 300 points on Yesterday
Finally NiftyFuture slipped 74 points to end at 11994
The economic survey 2020 estimated that India’s GDP will grow at 6-6.5% in the FY 20-21
Flash back on 2019 budget……. After budget Index was fell almost 1200 pts within 2 months
Then Govt took action “Corporate tax cut 22% from 30%…….. So 1600 pts was climbed
Again BJP govt will not take that much of decision!!
On Yesterday FIIs sold 4179 Cr worth of stocks in cash segment Whereas DIIs bought 3816 Cr
They sold 2283 Cr worth of Index future………
One thing is clear…….. FIIs are scared
NiftyFuture will be opened at gap down ahead of CoronaVirus impact in global market
After that………..Our market will be moved only on Budget news
Stock market favor news…….. LTCG, STT, and Personal income tax. If anything will be relaxed then will be see more fire work
Let’s see……… Technical levels
As per technical, NiftyFuture considering very strong support at 11950
Below 11950……….. finding a next supports 11890 and 11850
Suppose after budget NiftyFuture is stays below 11850
Expecting sharp selling pressure up to 11740 and 11600
After budget NiftyFuture if stays above 12200………. Will try to move 12400
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Updated : 09.02 AM / 01st Feb 2020
