- US markets ended mixed, Nasdaq was down, Dow was up
- Asian markets are mixed
- Yesterday FIIs sold for Rs 1700 crores
- SGX Nifty hit a low of 14371, But right now it is trading around 14580
- Main reason: RBI Governor speaking to Media, Bank Nifty will be in focus as RBI Governor is expected to announce some relief measures
- Banks have requested for 3 months moratorium
- Tata Steel is set to declare results today after market hours
- But the stock has run up already too much, even if there is slight disappointment, stock may fall tomorrow
- Reliance is trading closer to its support level of 1900
- So if Banks and Reliance recovers, Nifty can move higher by short covering
- As usual, markets are likely to be highly volatile
- The only positive is that India VIX did not shooting up, despite such a big fall yesterday
- Nifty future may trade between 14480 and 14720
Nifty/Banknifty for 5 May 21
Nifty : 14496
Rest: 14645 & 14740
Sup: 14450 & 14365
PCR: 1.51
Banknifty : 32270
Rest: 32850 & 33100
Sup: 31900 & 31600
PCR: 1.17