Nifty started its downtrend from last week of February when the Covid-19 was non its peak in China, and started to increase in India. It fell from 12000 levels to 7500, nearly 37.5% fall. The past week, 23rd to 27th March, according to many, Nifty Bottomed down to 7500 (Dec 2016 Support) and moved up to 8600 levels giving 1st weekly positive close.
The complete lockdown move from the government resulted in positive nifty, because the early positive lockdown give some hope to foreign investers for future Covid-19 Condition to India. Also RBI announced to slash the Repo rate by 0.75% and Reverse Repo Rate by 0.9%. This was a good move to boost the indian ruppee but the rate should be slashed more.
Full Report on :
https://www.manipulatedanalyst.com/2020/03/will-nifty-correct-more-during-covid-19.html
The complete lockdown move from the government resulted in positive nifty, because the early positive lockdown give some hope to foreign investers for future Covid-19 Condition to India. Also RBI announced to slash the Repo rate by 0.75% and Reverse Repo Rate by 0.9%. This was a good move to boost the indian ruppee but the rate should be slashed more.
Full Report on :
https://www.manipulatedanalyst.com/2020/03/will-nifty-correct-more-during-covid-19.html