Markets Update for 17/6/19

Markets were down today ,bears had the upper hand !

Major Reason for the fall

1. Below estimate monsoon – 43% below rainfall till date

2. Trade war

3. Global Bank meet this week

4. Also experts believe markets have run up upside too much in last few month ,were valuation is high – healthy correction is warranted

5. Budget Trigger – Traders are in wait an watch mode till July 5th

Advance and decline ratio for the day –

1369 stocks were down

409 stocks were up for the day

After 25 percent down for the month Yes bank was the gainer for the day with 0.74 Percent

Zee was another gainer for the day with 0.36 percent

Zee is down 10 percent for the month

Broader sectoral market index were all were down

Steel ,It,bank, realty,pharma,fmcg,auto,media,metal all the sectors were down !

To name a few stocks –

Tata Steel was down 5 percent

Jsw steel was down around 3.7 percent

Jindal steel was down 5 percent

Automobile sector –

Tata motors was down 3.5 percent

Maruti ,hero was also down

Jet airways was down 18 percent as company is set to be file for insolvency and bankruptcy !

Shri ram transport finance company was down 6.5 percent as piramal enterprise exits his stakes in the company

Fitch Rating Agency forecast GDP FY20 at 6.6%

Crude is down now at 5.50 pm 1 percent

Apollo tyres was up 8 percent – huge volume was seen

Markets are seeing healthy correction,would these corrections turn into nightmare

Nobody knows it !

Budget is the next trigger every one are waiting for !

Economy is under stress – how the policies will be dealt would be seen

US Interest Rate Meet , European Central Bank , Bank of England meet is scheduled for the week

Bank of Japan Monetary policy is also scheduled for the week

Global Investors are in wait an watch mode

Bank Nifty Expectations for tomorrow

Bank Nifty has closed at 30275

30000 is huge support for bank Nifty , 30230 is immediate support ,if Markets trade below this by 2 to 2.45 pm ,we could have tested 30120- 30000

But if the level holds up – we may see some bounce in markets up to 30500

Better observing the markets for first few hours would be good strategy

Trade less

Trade from Savings Money

Start observing markets

Small aim is a Crime

Sagar U.S