Date: 04-03-2020
Subject: (1) Today's Market condition of Nifty. Banknifty Sensex
(2) What's Happening on SBI Card IPO on 3rd Day?
(2) What's Happening on SBI Card IPO on 3rd Day?
(3) Supreme court allows Trading in Crypto currency. (4) Today's Market Movers,
(5) Stocks in the news and Global Markets
(6) Levels for Nifty and Banknifty for 5th March 2020
(7) Results of Given calls to Paid Clients for 04-03-2020
Presenting here the Chart of Nifty 50 with 15 Min time frame. First of all Let's talk about DOW JONES, the Dow Jones closed by -785 Points, (-2.94%), And SGX Nifty also was running in Red because of CORONA VIRUS NEWS and Patients are confirms Positive more and more by Day by Day. Hence By the Pattern of Bullish Harami, Nifty has opened gap up for +48 Points in the Morning session.
(5) Stocks in the news and Global Markets
(6) Levels for Nifty and Banknifty for 5th March 2020
(7) Results of Given calls to Paid Clients for 04-03-2020
Hey My Brothers & Sisters,
Hope your Day spends Good, Let's come to our Today's topics as I mentioned in Subjects.
(1) Today's Market condition of Nifty. Banknifty & Sensex
First of all Let's talk about Today's Conditions of Nifty, Banknifty and Sensex with the Chart of 15 Min Time Frame.
Nifty 50 Closed DOWN by: (-52 Points) (-0.46%)
Analysing Chart of Nifty 50 : 15 min Time Frame
Presenting here the Chart of Nifty 50 with 15 Min time frame. First of all Let's talk about DOW JONES, the Dow Jones closed by -785 Points, (-2.94%), And SGX Nifty also was running in Red because of CORONA VIRUS NEWS and Patients are confirms Positive more and more by Day by Day. Hence By the Pattern of Bullish Harami, Nifty has opened gap up for +48 Points in the Morning session.
What is the Reason Behind sudden fall of the Market?
The Reason behind the sudden fall of market in the second half is that the Corona Virus tests Confirms 4 More positive cases in India. The news has Wiped out the Recovery and Bullish pattern of Nifty and gives a Directly down movement of Nifty Declines by -268 Points from the Day's High. And we have seen recovery before the Closing from Major support.
Technically As we all can see the levels of Support and Resistance zones in 15 min time frame chart of Nifty 50. After opening Nifty suddenly cames down and Breaks the support zone of 11310, and Sustained around it, As we mentioned the Levels for Nifty and Banknifty in Yesterday's blog, The Nifty has follows the same. It was 11275, 11240 and 11170 Respectively.
After the Corona Virus news Nifty stared Collapsing from the Top, It's breaks our support zones of 11275 and 11240 FIrst, Then after sustaining it's go for 11170 and after breakdown of Major Support of 11097, Nifty made 11083 as Day's Low. As 11097 is Major support for Nifty, So from there Nifty has made some Recovery and Climbs up by 180 Points from the Day's low and Gives closing at 11254.
So Now, What's the next? Wha's going to happens tomorrow on Expiry day? Let's Discuss it.
By the CORONA VIRUS NEWS market is Behaving totally Unpredictably. So we are going with Technicals, There is still a Bullish Harami Pattern in Nifty 50, and the Bottom of the pattern is still safe. Minor resistance listed at 11310. So It might be a Reverse from there, and If breaks it with High volume and sustain above 11310, So by Power of Bullish Harami pattern Nifty will climb up for the Target 11400-11450 Respectively. Vise versa If Nifty comes back to support zone 11155 and sustains below it then it can comes down till 11098, 11030 and below 11000 Respectively.
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 05-03-2020.
Now Let's Talk about Banknifty Chart Analysis.
Banknifty Closed Down By -523 Points (-1.79%)
Analysing the Chart of BankNifty: 15 Min Time frame
Presenting the chart of Banknifty 15 Min time frame. Today we all know Nifty has opened with the Gap up by 48 points, But Banknifty hasn't given a more gap respected to Nifty, and the Supply Demand zones found at 28565-27728. Hence, Banknifty comes in the zones and Go back to the up side movement respected to Recovery of Nifty 50. Hence Banknifty has dropped -1127 points from the Day's High as the effect of Corona Virus news.
As per Technicals After the Opening time the Banknifty has touched the Support of 28950 again and again, Sustain around it for an hour and finally given Breakdown of the level, Then come down to 28770 is Minor support for it, Sustain there and come down to the Major support of 28565 and after breakdown of 28565 and it has makes 28125 of Day's low. Almost -350 Points from the Major support. Then we have seen Slight recovery in Closing time, It has climbed up +500 Points from the Day's low at the Closing price.
Tomorrow the Weekly expiry for Nifty and Banknifty options. So the Important levels are for the Banknifty is on upside it's 28748, 28950 and By downside the Levels are 28565, 28125 Respectively, In second half we can see some Lower levels because of Expiry. Now let's wait for the Global Market prediction.
Sensex closed DOWN by -214 Points (-0.55%)
As a Nifty Banknifty and Dow jones ended up with Red, Closed Down, So Sensex also has been Dropped by -214 Points (-0.55%).
Now Let's Move to our second subject about SBI Card IPO.
(2) What's Happening on SBI Card IPO on 3rd Day?
As we mentioned yesterday's Blog that SBI Card IPO is going to Oversubscribe. See What Happens on 3rd Day of Subscription.
SBI Card IPO is Oversubscribed 15.5 times on 3rd Day of Subscription, QIB subscription reached at 57 times.
It's the Last day for Institutional Buyers, For others it's open till 5th March 2020.
The portion set aside for non-institutional investors (or high networth individuals) saw 2.18 times subscription, while that of retail bidders 1.76 times.
So as we said in Yesterday's blog that SBI Card IPO is going to oversubscribed by the End of the date. Actual closing date is 5th March 2020. But it's get over subscribed by today, Hence tomorrow is Final date to Subscribe the IPO.
Are you going to subscribe or not? Share your views in Comments.
Now Let's move on our 3rd Subject for the Blog.
(3) Supreme court allows Trading in Crypto currency.
Today on 4th March the Supreme Court has allowed a Trading in Crypto Currencies which is banned from 2018 due to some issues. So today Supreme Court has Lifted the ban which RBI has put on banks regarding Virtual currencies like Bitcoin and others. Now it's available to trade in India also.
As an effect, crypto exchanges which allowed customers to buy and sell virtual currencies mostly shut shop and were forced to seek relief from the highest court of law.
Supreme court also highlighted that the ban needs to be seen from the angle of right to livelihood as these platforms suffered because of the RBI diktat. The judgement said that prevention of access to banking channels means cutting off the lifeline of a business, which applies to the exchanges.
Now Let's come to Today's Market Movers.
(4) Today's Market Movers
The Market Movers stocks are these which Makes the direction for the Nifty 50, Sensex and Nifty Bank. The stocks which price is Fluctuated most and Makes market moves Upside or Lowerside. So those Stocks are Known as Market Movers.
Let me show you some Today's Market Movers stocks with Images.
HDFCBANK goes for Major support after taking Resistance Yesterday
RELIANCE also just Tests major Support and Closed upon the Resistance
TATASTEEL has tested the Resistance and go for Lower levels
INDUSINDBK breaks the important level Last week, Coming for lower levels
YESBANK comes at Major support and Slightly breaks it.
Some More Market Movers Mentioned below:
1. ITC
2. BPCL
2. BPCL
3. Kotak Mahindra
4. UltratechCement
5. Grasim
Now Let's move to the Global Markets and News.
(5) Stocks in the news and Global Markets
Most of Global markets timing are different then Indian Markets. Dow Jones hasn't opened yet. SGX Nifty has been closed for today's Trading session.
So Just have a Look at it. For the Prediction of Nifty 50 with the Help of Global Markets Don't your Heads up, We will Upload it by Tomorrow Morning on our Free Whatsapp Group.
At the End of the Blog you will get the Link of our Free Whatsapp group.
Let's have a Look at some news:
1.
Spot power price dips 6% to Rs 2.91 per unit in February
2
Govt permits NRIs to own up to 100% stake in Air India
3.
Public sector banks' merger to come into effect from April 1, says Nirmala Sitharaman
Now at the End of the Blog I am Giving you a Levels of Nifty and Banknifty for 5th March 2020
1. For Nifty Resistance No. (1) 11325 (2) 11355
For Nifty Support No. (1) 11180 (2) 11155
2. For Banknifty Resistance No. (1) 28750 (2) 28800
For Banknifty Support No. (1) 28600 (2) 28500
YOU CAN CONSIDER SUPPORT AND RESISTANCE AS A TARGETS.
Now Publishing the Results of Given calls for
Today (04-03-2020) to our Paid Clients
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So that's it for this Blog guys, Hope you Like our today's Content and Hope the Levels Provided to you will help you and Give you a Little bit of idea.
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Expert Traders Team,
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