Monthly Value Plus

Value plus April 2020



In March, Domestic market benchmarks (~ 22%-33%) ended the worst hit in history. Amid the Covid-19 pandemic, The Nifty just took 15 trading days to fall into bear market territory (i.e. the first 31.6% decline), while volatility reached record levels. The PM Modi announced a 21-day nationwide lockdown while exempting essential services. Across Large, Mid and Small-cap categories dropped by ~28-33% in a volatile month ended 31stMarch 2020.The Indian benchmark indices closed negative with S&P BSE Sensex down by 22.7% and the Nifty 50 was down by 22.8%.

In this issue:

  • Movers and Shakers
  • Market Outlook
  • Nifty Technical Outlook
  • Stock Pick
  • Auto Sales
  • Mutual Fund
  • Key Events
  • Economic Data Wrap Up

On the monthly chart, we are observing that prices have breached the upward slopping channel (shown above in the graph) with higher volumes. The fall was almost of 3921 point which was largest in a single month. This suggests that the markets are in a firm bear grip.

In coming month if Nifty trades and close above9311level then it is likely to test 10456 – 11061 - 12939levels. However, if Nifty trades and close below7884 levelthen it can 6740 -5597 - 4264levels.  

At present the monthly trend has turned down and rallies are likely to attract selling pressure. Hence, one needs to adopt cautious approach at current levels.


Tags: Auto SalesKey EventsMutual FundMovers & ShakersMarket OutlookStock PicksNifty Technical OutlookEconomic Data Wrap Up


Arihant's January Investment Newsletter is now available #ValuePlus.
Click here to download full pdf report

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