Nifty Index Can Break it’s 52 Weeks Low on May 2020
Recently, Nifty Index has fallen from it’s 52 weeks high 12400 by 38% and made 52 weeks low 7500 on March 2020. Due to Covid-19 infection the whole nation are on lockdown. Entire Corporates operations were suspended for the timing to prevent Corona virus. After a long period we saw such a hazardous virus which I never thought that one day we can be in full lockdown and making a single day count badly staying at home.
Stock Market Crashed due to Corona Virus in 2020 across the world. It took a lacs of lives worldwide and the number of positive cases are increasing at daily basis. Wuhan-China was the first country to caught Corona Virus and the virus has spread to an entire world later on. Due to lack of seriousness, the common humans have faced badly putting their life on risk.
What Impact Incurs by Corona Virus on the Stock Market
Fear is the only thing which brings negativity on the stock market. Sentiments in the stock market matters the most. Positive and negative news just required for traders to speculate the market. But this time the negative news was on Corona Virus who hampers the human life most and worst from it. After the historical 2008 stock market crash, history repeats again on 2020 which was the biggest stock market hit on a single month.
Investors can’t forget the month of March 2020 who have faced an equity loss along with loosing their loved ones. The gains that had been made in last 5 years on equity market went veins in just 15 days. Huge sell off across the stock was seen recently, everyday Nifty Index touching its 52 weeks low brutally. There comes stand by the respective government declaring some stimulus package for the welfare of the nation, which helps in pulling the market up with a hope that the stock market is alive.
However I think the sentiment and the market both seems to be a negative. Recently the bull run took up the Nifty Index from its 52 weeks low 7500. Currently Nifty Futures is trading around 9300. I think more 100 or 200 points can go up from cmp. Profit booking on Nifty Futures long will start onwards from 9500 levels as per my views.
And I think Nifty Index can retouch it 52 weeks low once again indespite of bull run. Stay tune with us more live updates on Equity Stock Market, Derivatives Intraday Strategy.