Daily

Daily Market Update Report 24-03-2020


Nifty opened down in wake of weak domestic clue and closed deep in red. On the daily chart we are observing that prices have closed below the upward sloping channel (shown above in the graph). This suggests further weakness. In coming trading session if Nifty trades below 7583 then it may test 7400 – 7300 levels. On the upside, 7750 – 7900 levels may act as resistance for the day.

Broadly, we are of the opinion that one should not do any bottom fishing at current level. We advise traders and investor to stay at the sideline and wait for this dust to settle.

Tags: Daily


Search Reports

SEARCH

Open an account

OPEN AN ACCOUNT

Reports

Daily Market Update...

Nifty opened lower and traded...

Read More

Daily Market Update...

Nifty opened on a subdued...

Read More

Daily Market Update...

Nifty opened on a subdued...

Read More

Daily Market Update...

Nifty opened higher in wake...

Read More

Daily Market Update...

Nifty witnessed selling...

Read More

Ultratech Cement Ltd. Q4...

Ultratech witnessed slowdown...

Read More

Bajaj Auto Ltd. Q4FY20...

Bajaj Auto’s Q4FY20...

Read More

NIITTECH

SHORT TERM TRADING CALL: BUY...

Read More

LT Technology Q4 FY20...

L&T Technology...

Read More

Manappuram Finance...

Manappuram Finance (MFL)...

Read More

Subscribe to newsletter

Request a call back

DISCLAIMER: This document has been prepared by Arihant Capital Markets Limited (hereinafter called as Arihant) and its subsidiaries and associated companies. This document does not constitute an offer or solicitation for the purchase and sale of any financial instrument by Arihant. This document has been prepared and issued on the basis of publicly available information, internally developed data and other sources believed to be reliable. Whilst meticulous care has been taken to ensure that the facts stated are accurate and opinions given are fair and reasonable, neither the analyst nor any employee of our company is in any way is responsible for its contents and nor is its accuracy or completeness guaranteed. This document is prepared for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. All recipients of this material should before dealing and or transacting in any of the products referred to in this material make their own investigation, seek appropriate professional advice. The investments discussed in this material may not be suitable for all investors. The recipient alone shall be fully responsible/are liable for any decision taken on the basis of this material. Arihant Capital Markets Ltd (including its affiliates) or its officers, directors, personnel and employees, including persons involved in the preparation or issuance of this material may; (a) from time to time, have positions in, and buy or sell or (b) be engaged in any other transaction and earn brokerage or other compensation in the financial instruments/products discussed herein or act as advisor or lender/borrower in respect of such securities/financial instruments/products or have other potential conflict of interest with respect to any recommendation and related information and opinions.