Daily Market Commentary - March 17, 2020 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

"Nifty continued to remain volatile throughout the day before the news of third death due to Corona Virus came in a media and market lost more than a couple of percent. Fear is increasing with every passing hour. More and more action is expected from various government authorities to protect civilians from getting infected. Though there is good news coming from China who managed to win over Corona. Going forward the broader market momentum will be driven by news-flow. Technically speaking current low of 8555 should hold. In case it breaches the same, more panic will be seen. It is advisable for a trader to trade with hedge and do not carry over leverage position at home till the volatility cool off. For an investor, every fear becomes an opportunity to invest. An investor can invest in a staggered manner."

Source : Equity Bulls

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