Tit - bits

Photo: Motley Fool

After a long hiatus I have decided to upload the blog again. In view of too much uncertainty regarding Covid - 19 epidemic and my preoccupation with other facters of life took me away from blogging.

Anyway,  the Indian bourses last week fell over 1%, primarily due to the resurgence of trade war between the US and China -- the latter vowing to retaliate the US actions and rising number of COVID-19 cases coupled by a hotch potch Rs.020 lakh crore stimulus package, which failed to cheer up the bulls. 

There is an old proverb: "Sell in May, and Go away". According to my analysis and understanding, the Indian markets are likely to witness intense selling pressure in the coming days due to a jump on Covid - 19 cases during the last few days. 

The Nifty will most likely break the supports at 9000/8700/8420. Since,  the short, medium and long term indicators are showing more inclined towards the bears, the traders can short the Nifty at around 9137 for short term downside targets of 8420, with a SL corresponding to the spot level of 9200.

Nifty Bank: 

The Banks, Especially the PSBs are likely to se  heavy selling in the coming days due to debt accumulation factor. The Bank Nifty will invariably break the support at 18440 and head towards 18000.

The Indian economy was already on a shaky wicket during the last 6 years,  under the demagogue named Narendra Modi. Now Covid - 19, will do its last rites. 
When a person having questionable educational qualifications and no experience as an MP,  became the PM of India by fluke, basically by bluffing and spewing Jumlas, this is what happens. Or this was expected from the day the Indians gave NaMo government the 2nd term to rule this great country, based on Hindu - Muslim plank. 

Meanwhile, Nippon Life and Asset Management Ltd came out with one of the worst sets Q4 numbers: 

Profit droped to Rs 11.88 Cr versus Rs.144.93 Cr, revenue at Rs.254.51 Cr versus Rs.323.94 Cr on YoY basis. The stock might test the support at 214/215.

Now, get out of all your longs, I'll tell you when to enter the markers again from the buy side.