Good Morning Folks, Global markets traded and closed in deep green with high expectation of second stimulus package.
Nasdaq closed at 9874 with a 1.2% gain.
Dow Jones closed at 25595 with 2.32% gains.
Important Event
Prime Minister will address nation at 4pm today.
Nifty 50 Technical Analysis
Yesterday, the market traded in a very small range of 120 points.
Nifty50 took support at 10210-10220 levels and closed at the opening price. The overall market looks weak as declines were greater than the advances.
Nifty50 Support 10220, 10150
Nifty50 Resistance 10330, 10400, 10540
FIIs Data
FIIs have reduced their long position to all month low, and it is a very bearish sign for Indian markets.
They have been net sellers for the last 3 sessions with the sold value of around 3740 crores.
Traders should avoid overnight long position and stay hedged until the situation becomes clear.
