Daily Market Commentary - June 5, 2020 - Bonanza Portfolio

Mr. Vishal Wagh, Research Head

Nifty opened with a small gap up and it managed to hold the momentum the entire day. Every dip was encashed by bulls. The market has given thumbs up to the SBI result, stock closed 8.73% up for the day. Idea continued it's bullish run and managed to close in double-digit with gains of 25% for the day.

Market breadth has remained strongly in favor of bulls for every eight gainers there was only one loser. Except for FMCG, all other sectors closed in green. India VIX contracted by 3.5% and closed below 29. USDINR trading at 75.58.

Nifty will have support near 10030 and resistance around 10250.

Source : Equity Bulls

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