What can a raging global bull do for Nifty Today?

This is the excerpts from my morning market view that is posted early in the morning in my blog

Click HERE to view details. Be in touch on TWITTER for regular intraday updates

04 June 2020 8.45AM

Positives:

  • Global risk on mood rages on. Safe havens USD, JPY & Gold continue to trend lower

  • US & European markets shot up again yesterday

  • FIIs are not stopping from buying in cash market

Negatives:

  • Last hour price on action yesterday is bearish

  • Continuing border standoff with China

Global Markets: - Raging bull

European and US markets ended with solid gains and long green candles. Emerging market ETF and other risk assets continue to zoom ahead.

ASIAN Markets this morning: - No profit booking in sight

All of Asian market is up sharply this morning. Although SGX Nifty is well above 10K mark, it is falling from the yesterday evening levels of 10200.

Calendar events

India’s Services PMI of China disappointed again and came in at 12.6% which means a sharp contraction in services again for the month of May 20. India’s economy has fared far worse than other G20 countries in the past two months.

India : -Will 10K hold

Macro-economic situation is bad in India and its not a surprise for markets anymore. What has taken the markets sharply up is the risk on mood raging in global markets. What can it do for us today. Find our HERE

Result announcement:

DLF and NIIT will declare quarterly results today and Exide Industries will declare its results tomorrow.

Disclaimer: Author is not responsible or liable, directly or indirectly, for any form of damages whatsoever resulting from the use (or misuse) of information contained in or implied by this posting. This should not be relied on as a source of financial, investment or trading advice. What works for one individual may not work for anyone else. Always consult and check with your financial advisor. I am an active trader therefore I have conflict of interest with whatever I have mentioned here.

Profit booking day

:+1: