A fall in virus cases only can save D-St from further downfall
Published On: Tuesday, March 24, 2020 | By: Team KnowMyStock
At 9.00 PM (IST), Dow Jones was down 3.77 percent at 18,451.06, while Nasdaq and S&P 500 were trading up to 2.68 percent lower. European shares were stuck near seven-year lows on rising fears of an outright contraction in global growth for the year after several more countries self-isolated to curtail the spread of the coronavirus pandemic. European stocks sink again as virus deaths mount: European shares were stuck near seven-year lows on rising fears of an outright contraction in global growth for the year after several more countries self-isolated to curtail the spread of the coronavirus pandemic.
Nifty shaved off over 1,100 points in a brisk selloff on Monday, the day trading halted on the bourses for the second time in less than a week. Analysts said predicting a bottom in this market is next to impossible, as the bulls have easily capitulated to the bear dominance. For now, they see immediate support at 7,350 and 7,500 levels.
F&O: Not the time for bottom fishing:Nifty formed a bearish candle on the daily chart and made a new four-year low. At its current juncture, the market is in strong bear grip and, thus, is not respecting any support levels. As of now, there is no sign of trend reversal, and thus, traders should refrain from bottom fishing in this market.
Experts said predicting a bottom in this market is next to impossible, as the bulls have easily capitulated to the bear dominance. For now, they see immediate support at 7,350 and 7,500 levels.
Tags: Nifty
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