The Nifty Future is trading at 9,805.00 with a loss of -1.38% percent or -137.00 point. The Nikkei 225 Future is trading at 21,627.50 with a loss of -2.44% percent or -540.00 point.The Hang Seng Future is trading at 23,821.00 with a loss of -1.06% percent or -255.50 point.
TODAY’S FACTORS AND EVENTS
Nifty make a bottom at 7,500? This is the biggest debate on the D-Street these days. If you look at history, which is often an indicator of what lies ahead, we may not be out of the woods just yet.
The rise in COVID-19 cases, as well as delay in economic recovery, could derail the recent rally for the bulls, suggest experts.
Usually, markets tend to move in a non-linear fashion during correction periods with false signals such as bull traps and in most cases forming double bottoms, according to data collated by a report from Prabhudas Lilladher.
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 25,605.54 up with +1.90% percent or +477.37 point. The S&P 500 is trading at 3,041.31 with +1.31% percent or +39.21 point. The Nasdaq Composite is trading at 9,588.81 up with +1.01% percent or +96.08 point.
In other parts of world, Japan’s Nikkei 225 is trading at at 21,530.95 with a loss of –3.47% percent or –774.53 point. Hong Kong’s Hang Seng is trading at 23,776.95 with a loss of –2.16% percent or –524.43 point. China’s Shanghai Composite is trading at 2,890.03 with a loss of –1.02% percent or –29.71 point. India’s BSE Sensex is trading at 33,274.02 with a loss of -1.50% percent or –506.87 point at 12:15 PM.