NiftyFuture last close: 14343.25 (-3.7%)
What a day of April 12 and whole day bears have an upper hand
NF was opened gap down at 14689 and dropped 14282. Then closed at 14365
The record daily surge in covid-19 cases and fear of a lock-down in Maharastra
Tough restrictions in all other states so market was seen blood bath on April 12, 2021
Sensex declined more than 1700 points while Nifty50 snapped 525 points
Midcap index fell 5.3%, Smallcap index slipped 4.8% and Bank index fell more then 6%
More than 9 lakh crore market capitalization was dropped in single day
Volatility index spiked 15% from 19.78 to 23 and option premium at too high due to volatility
Banknifty fell more than 1600 points
TCS announced Inline with expectation result
DRREDDY stock spiked 7% after Govt approved Sputnic V
US markets ended lower on Monday. US markets waiting for cues from the upcoming corporate earnings season and a key inflation report later this week
Dow down 55 pts, Nasdaq fell 50 points and S&P500 closed flat
Asian markets edged higher on Tuesday
But, Indian markets are not reacting for global cues
IIP shrinks 3.6% in Feb and March CPI inflation at 5.52% vs 5.03%
FIIs sold 1746 crore while DIIS net bought 232 crore in cash segment
SGXNifty indicate a modest gain for the index and likely witness highly volatile will be expected during the day
NiftyFuture formed a strong bearish candle on a daily chart which was indicating sell on rise mode
Nifty (spot) has bounced from 100 DMA around 14250 on yesterday, If the index sustains above the level it can make an attempt to bounce-back upto 14380, 14430 and 14500
Suppose if sustains below 14250 could extend the weakness towards 14180 and 14120
Already I did mention Nifty positional target was 13800 when Nifty trading @ 14800-15000
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Updated: 08.50 am / 13th April 2021