InvestorQ : How do you see the Nifty and Sensex on 16 April, being the last day of the week? Do you see correction continuing in the next week also?
Priyanka N made post

How do you see the Nifty and Sensex on 16 April, being the last day of the week? Do you see correction continuing in the next week also?

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swati Bakhda answered.
8 months ago
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I agree with Diksha's view below that it would all boil down to the VIX...

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Markets showed a last hour bounce on Thursday due to a mix of short covering in metals and private banks and some very selective buying in pharma and some IT stocks. Sensex was under pressure through most of the day but there was a late rally which helped the Sensex close nearly 265 points higher. Friday may see some last day profit booking.

The overhang of the pandemic is still there with the cases of Coronavirus crossing 2 lakhs per day. In fact, the numbers are fairly intriguing and recent gatherings are only worsening the situation. The next few days could be critical as lockdowns and clamp down on activities could have an impact.

FPIs purchased Rs.980 crore of equities on Thursday even as domestic financial institutions and mutual funds sold Rs.527 crore of equities. Global investors did show some buying interest at lower levels in the markets as was evident from the positive FPI flows. However, the momentum has weakened since late February in terms of foreign flows.

Dow and NASDAQ were up 100 bps on Thursday after the US clamped sanctions on Russia. It is seen as an indication that the US may go easy on China and that would be positive for trade and for growth of the US economy. Europe was also in positive on Thursday even as the SGX Nifty traded flat with positive bias in early trades on Friday.

The next week the big factor will be the VIX and that has been supportive all along. For now, one can stay long and look to accumulate quality stocks at lower levels.

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diksha shah answered.
8 months ago
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Markets showed a last hour bounce on Thursday due to a mix of short covering in metals and private banks and some very selective buying in pharma and some IT stocks. Sensex was under pressure through most of the day but there was a late rally which helped the Sensex close nearly 265 points higher. Friday may see some last day profit booking.

The overhang of the pandemic is still there with the cases of Coronavirus crossing 2 lakhs per day. In fact, the numbers are fairly intriguing and recent gatherings are only worsening the situation. The next few days could be critical as lockdowns and clamp down on activities could have an impact.

FPIs purchased Rs.980 crore of equities on Thursday even as domestic financial institutions and mutual funds sold Rs.527 crore of equities. Global investors did show some buying interest at lower levels in the markets as was evident from the positive FPI flows. However, the momentum has weakened since late February in terms of foreign flows.

Dow and NASDAQ were up 100 bps on Thursday after the US clamped sanctions on Russia. It is seen as an indication that the US may go easy on China and that would be positive for trade and for growth of the US economy. Europe was also in positive on Thursday even as the SGX Nifty traded flat with positive bias in early trades on Friday.

The next week the big factor will be the VIX and that has been supportive all along. For now, one can stay long and look to accumulate quality stocks at lower levels.

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Abhishek answered.
8 months ago
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Market will be in a range of 15000 and 14200 make strangle and enjoy premium
Small profit but confirm profit

marketsOutlooks.com

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