Hello reader, hope you’re doing well. The initial trading session is expected to be lackluster due to a decline in US markets overnight, which may negatively affect investor confidence. Nonetheless, as the options and futures (F&O) contracts for the current month are set to expire today, a cautious approach is likely to prevail. Concerns about a potential recession are resurfacing in the US, driven by renewed worries about the broader impact of the recent banking crisis. Additionally, the possibility of further interest rate hikes by the US Federal Reserve and key European countries is anticipated to limit upward movement in the future. Nevertheless, there are some positive factors that may help mitigate the downside in the short term. Crude oil prices remaining below $80 per barrel and foreign institutional investors (FIIs) shifting towards being net buyers of local shares are among the encouraging catalysts.
Important points to note:
- Nifty nearing a key breakout zone of 17870 levels, which is the previous top that was formed earlier this month.
- PSE index has given a very good closing, above 4650 can open up the path to new ATH.
- Bajaj twins and ITC being the top gainers for today.
- With today being the finall expiry session for the month of April, a good amount of volatility can kick in, in the second half of the day too.
As always, risk management is key, and a proper system in place prevents one from losing out too much, in case of outlier events. Have a good trading day, and may the force be with you!
Disclaimer: this post is for educational purposes only, we are not SEBI registered analysts. Trades mentioned here are not trade recommendations. Equity Investments are subject to 100% market risk, please consult your financial advisor before investing.
Clear and sensible. Awaiting the weekend Chronicle eagerly!