This is the excerpts from my morning market view that is posted early in the morning in my blog
04 June 2020 8.45AM
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
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.
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
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.