Date: 16-03-2020
Subject: 1. What should be a Strategy for 17-03-2020! After Nifty Falls by -757 Points?
2. Effect of Corona Virus News on SBI Card IPO.
3. Effect of New Investors on Yes Bank share price.
4. Today's market movers and Stocks in the news
5. Levels for Nifty and Banknifty for 17-03-2020
6. Results of given calls for 16-03-2020.
Hey My Brothers & Sisters,
Hope your Day spends Good, Let's come to our Today's topics as I mentioned in Subjects.
1. What should be a Strategy for 17-03-2020! After Nifty Falls by -757 Points?
First of all Let's talk about Conditions of Nifty, Banknifty and Sensex with the Chart of 15 Min Time Frame.
Nifty 50 Closed DOWN by -757 Points (-7.61%)
Analysing Chart of Nifty 50 : 15 min Time Frame
Presenting the Chart of Nifty 50 of 15 Min time frame
> As we know that Today morning SGX Nifty was down by -450 Points, And the Corona Virus News is still here to Plung the market, Corona Virus news is making more and more panic in the Markets, and That's why Nifty is opened gap down by -367 Points.
> Dow Jones has closed Positive in it's last trading session, But it was the effect of Nifty and Global markets both were closed in Green , That's why Dow has shown some recovery
> Corona Virus is spreading more and more globally and Finds Positive cases everyday, in India too.
Number of cases reached today to 114 from 107.
Now Let's go with Technicals as mentioned in Above charts.
> As per Technicals we have Supports and Resistance area as mentioned in the Charts.
> As mentioned in Yesterday's blog that we Feels some Consolidation over the support Levels 9690-9458.
> Yes, of course it happens today, But as we know that Here's a too much Panic in markets due to Corona Virus, And Nifty has fall down to 9200 as uncertainty arrives due to Corona Virus news.
> After the Successfully breakdown of 9458 the next support found at 9280 and after successfully breakdown of the same Nifty has made 9165 as Day's low price.
So Now, What's the next? What's going to happens on 17-03-2020? What should be the Levels for 17-03-2020?
Let's discuss the Levels. The Final levels we will Provide at the End of the Blog.
> Nifty has now made a 9280 as a Resistance, Currently running at 9197. Next support level is 9095.
> If Nifty breaks 9095 with High volume we can see the levels of 9000-8950 itself.
> Major resistances are 9280-9458 are also still there, we can see some Higher levels after breakout with High volume of same levels.
> 9690 is performing as a Major resistance level for Nifty. we can see the same target achievement if breaks above resistances with high volume.
> Now Let's see how's Dow Jones and SGX Nifty performing in their trading sessions. Remember, The markets are driven by a news nowadays. Do not trade blindly.
So It's Our Technical analysis Views about Nifty 50 for Upcoming Trading sessions.
At the End of the Blog we will provide Levels for Nifty and Banknifty for 17-03-2020.
Now Let's Talk about Banknifty Chart Analysis.
Banknifty closed DOWN by -2065 Points (-8.21%)
Analysing the Chart of BankNifty: 15 Min Time frame
Analysing the Chart of BankNifty: 15 Min Time frame
Presenting the Chart of Banknifty 15 Min time Frame.
> As we saw that Nifty has opened by Gap down with -367 Points, SO Banknifty has also opened gap down by -1285 Points today Morning.
> As Nifty , Sensex and SGX Nifty has also falls down due to Corona Virus news the Banknifty also falls by -2065 Points and closed at 23101.
> By following Nifty and sensex fall and most of the stocks are falling specially from Bank sector, That;s also the main reason behind the Fall of Banknifty.
> As per Technical Views Banknifty has a Major resistance at 24337 , But it's already opened at 24061, Downside from the Level.
> The Banknifty has opened down by -1285 Points and After consolidate at 23633 for Sometimes and then Finally breakdown for the same, Banknifty has reached at next support area of 22977 as we got Last time.
> Today's Banknifty movement is we can say it just like a Consolidate over a Single Level.
So What's the Next targets and Levels for the Banknifty for Next?
> Banknifty has active levels of Resistance is 23633, and Downside the support levels is 22977.
> After the breakdown for the Same support we can see the downside targets of 22468-22000-21600-21300 Respectively.
> On upper side Banknifty wants a proper breakout of 23633 with High volume, After the breakout for the same we can see the Target achievement of 24337-24783-25200-25674 Respectively.
> So there are the Major supports and Resistance levels for tomorrow and for Swing as well. Now let's see how Global markets reacts on their Trading sessions.
Sensex closed DOWN by -2713 Points (-7.96%)
As SGX Nifty has shown a Lower levels today morning that's why the Sensex has closed Down by -2713 Points (-7.96%).
Now Let's Move to our second subject.
2. Effect of Corona Virus News on SBI Card IPO.
> The SBI Card IPO has started their Listing from some previous sessions, As today also they were Listed the IPO.
> SBI Card IPO has Listed today morning and Opens at 661, Almost 95 Rs. down from It's Subscription price 750-755.
> But the Corona Virus news affects it's Listing today and It's almost closed by 10% lower today.
> Law price for the Day is 658, 2 Rs. less from it's Opening price. and the High price reached by 755 itself, So It's failed to cross it's Issue price on the Listing day.
> Yes, It's bad that the price of SBICARD is now at 681. And you may applied it at 750-755, But Don't exit now, No need to book loss and exit.
> SBIN is fundamentally totally strong, It's worth it, And it's growth ratio is also perfect. If you can Hold it then Please Hold, After market settles from there to next 10-12 Months expecting the Price of SBICARD can be doubled from Issue price. But you have to be Patient, Once the Issue of Corona Virus will be resolved the Stock will catch it's Bullish track as soon as Possible.
> SO IT'S MY PERSONAL SUGGESTION/ RECOMMENDATION TO ALL THAT PLEASE HOLD THIS IPO, (AS PER YOUR CONVENIENCE). IF YOU ARE EXITING NOW AND BOOKING LOSSES, THEN YOU WILL SURELY REGRET LATER. IPO IS AFFECTED BY THE CORONA VIRUS NEWS, THAT'S IT, NO ANY OTHER REASON BEHIND IT. WAIT A MARKET TO SETTLE, IT WILL GIVE YOU A ROI, YOU HAVE TO BE PATIENT.
( THIS IS OUR VIEWS ON IPO, THERE ISN'T ANY COMPULSION TO HOLD YOUR POSITIONS IN)
Now Let's move to our 3rd Subject
3. Effect of New Investors on Yes Bank share price.
> As we mentioned in Previous Blog that ICICIBANK, SBIN, HDFCBANK, AXISBANK, AZIM PREMJI TRUST, KOTAK MAHINDRA BANK, RADHAKISHAN DAMANI, RAKESH JHUNJHUNWALA has comes ahead to Help Yes bank and Pull it out from the Trouble.
> The effect of this news for the Yes Bank, the Yes Bank share price has been Jumped over 45% today, As we mentioned in Previous Blog, Check there.
> Today's Yes Bank share price opens at 26.70, Made high of 40.40 for Intraday and then Closed to 37.
> By this Help from the other Companies YesBank had feels some relief and Declares that Yes Bank is going to resume full Banking services / Operations from 18th March 2020, 6 PM onwards, So customers can avail services from 19th of March.
> Official Declaration from YesBank on twitter. See the image below
Now Let's Move to 4th Subject.
4. Today's market movers and Stocks in the news
HDFC breaks Major Support again today
Reliance breaks Major support again today
TCS: Consolidated over 2 Major levels then Finally breakdown
Infy breaks Major support again today
Some more Market Movers mentioned below:
1. Bajaj Finance
2. IndusindBK
3. AxisBank
4. KotakMahindra
5. LT
Let's move to News of the Day:
1. Travel of the Passengers from UK, Eu contries, and among others will be Prohibited from 18th March.
2. Yes Bank owner Rana kapoor's Remands extended till 20 March.
3. There aren't any Rate cuts from RBI, but it's going to ensure financial stability, From today's meet.
4. Airlines may Bankrupt at the End of May 2020 if the Corona Issue continues more.
5. Gold falls and goes down below 40000, Silver plunged Rs. 6440 per Kilogram.
Now at the End of the Blog I am Giving you a Levels of Nifty and Banknifty for 17th March 2020.
1. For Nifty Resistance No. (1) 9280 (2) 9360
For Nifty Support No. (1) 9150 (2) 9095 (3) 9020
Market is totally Unpredictable nowadays. Strictly follow levels.
2. For Banknifty Resistance No (1) 23633 (2) 24050
For Banknifty Support No. (1) 22977 (2) 22468
Market is totally Unpredictable nowadays. Strictly follow levels.
YOU CAN CONSIDER SUPPORT AND RESISTANCE AS A TARGETS.
6. Results of given calls for 16-03-2020.
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