Daily Market Commentary - Oct 14, 2020 - Bonanza Portfolio

Mr Vishal Wagh, Research Head

Indian markets made slightly negative start in the morning following weakness in global peers.

In the afternoon Nifty Pharma index dropped for the second consecutive session as selling pressure witnessed in Lupin, Torrent Pharma and Cipla.Interest waiver case: Government has laid out the roadmap in its affidavit borrowers are anyway protected from being classified as NPA, Bank Nifty recovers almost 500 points from day's low.

In Nifty 50, the first five gainers are Bajaj finsv, SBI life, Bajaj finance, Indusind bank and ICICI Bank as major losers were Wipro, NTPC, ONGC, Coal India and Tata motors.

Nifty50 technical supports are placed at 11840 and 11720 while resistances are at 12030 and 12100 levels.

Source : Equity Bulls

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