Daily Market Commentary - Sep 25, 2020 - Bonanza Portfolio

Mr Vishal Wagh, Research HeadIndian market started the day in green inline with the global peers. In the initial hours of trade, the market remained volatile but in the second half, bulls took the charge and regained the momentum to recover lost territory. In the process, Nifty managed to close above 11000 levels on a closing basis. Banknifty too regained and closed above 20900. In short, the October series started with bulls in charge.

In Nifty 50, the top five gainers were Bajajfinserv, Cipla, Hcltech, Bhartiairtel and Indusindbk. Whereas there were only four losers Hdfclife, Bpcl, Upl and Sbilife.

Market breadth remained in favor of bulls. For every loser, there were seven gainers. India Vix contracted by 11.76% closed below 21.

Going forward, major support will be seen around 10790 and Resistance will be 11200.

Source : Equity Bulls

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