Hot Stocks | Sun Pharma, Just Dial can give up to 14% return 3-4 weeks
Episode 2379, Apr 07, 2020, 02:55 AM
During the previous week, the proceedings started with a strong cut on Monday and despite some pullback in the following session markets once again resumed their downward trajectory.
Eventually, the truncated week ended with nearly seven percent cut from the previous weekly close.
As we all know, markets are being driven by fear and till the coronavirus pandemic does not subside, the pain is likely to stay in the market.
Traders are advised not to create aggressive bets, especially leveraged positions in such kind of environment.
Last week, India VIX cooled off considerably from a 12-year high, which is the only sign of relief because it indicates the possibility of volatility reducing and thereby, shrinking the overall range of the market.
It would be important to see how things pan out over the weekend with respect to coronavirus.
As far as levels are concerned, 8,000 followed by 7,800 would be seen as immediate supports, whereas on the higher side, if the market has to see some relief, the Nifty needs to surpass 8,300-8,400 convincingly.
In the recent past, financial stocks have been facing terrible selloff and last week too, we saw tremendous underperformance from this space.