Indian stock market Today is going to be a very challenging day for investors. Market experts say that domestic stock markets may open with a big fall after a tornado in the US stock market. Wall Street saw a decline in the second consecutive session after China put up new tariffs on American goods. Even today, the decline in American stock futures is indicating a major decline in Wall Street. This is likely to affect the Indian market today. After the trade war, selling has started in markets around the world due to recession concerns.
How far can the market break?
According to market experts, the Nifty 50 can fall to 22,500 during Monday’s trading. Technically, the Nifty 50 has come down from all moving average support, reflecting the possibility of further decline. Support is at 22,600. At the top, any recovery may face strict resistance in the area of 23,100–23,400. Interestingly, the banking index is showing strength and may continue to perform better. It has immediate support at 50,700, while a strong support of around 50,000.
There is a possibility of a lot of ups and downs
Siddharth Khemka of Motilal Oswal Financial Services said that this week there is a possibility of considerable fluctuations in the Indian market amidst the concern of American counter-duty and the possibility of an announcement of field-based special fees. Apart from this, he said, the results of the RBI Monetary Policy Committee meeting will be announced on 9 April. The market is expecting a quarter percent reduction in repo rate. The fourth quarter results of companies with Tata Consultancy Services (TCS) will begin on 10 April. All these factors will affect the market.
What to do retail investors?
Market expert says that if you are a small investor then it would be better to stay away from the market right now. Do not make any new investment. Avoid investing in mid -cap and small cap stock. Wait for the market to be stable. Yes, work to sort the stock of your choice in this market decline. Start investing when this tornado stops. Continue if you invest through SIP in mutual funds. This opportunity is to get more units.
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