Stock Market Outlook: After imposition of Section 144 leading to huge restrictions in regular public life in Maharashtra, the speculation is rife that it will have an impact on the Indian indices when it opens on Thursday.
So, in my opinion, NSE Nifty is expected to maintain its current support of 14,250 to 14,300.” Bagadia went on to add that Bank Nifty will also looks able to maintain its current support of 30,700.
On major triggers that will decide the market outlook; Avinash Gorakshkar, Head of Research at Profitmart Securities said, “Rather looking at Maharashtra restrictions, one should look at the number of new COVID-19 cases getting reported from now onward.
Suggesting stock market traders and investors to keep an eye on the US markets Sumeet Bagadia of Choice Broking said, “Much will depend on how the US market performs on Wednesday.
Asked if the COVID-19 cases continue to rise in near future Sumeet Bagadia said, “Covid-19 update in India and the US market performance will remain the major triggers for Indian stock market.
However, Bagadia said that if the COVID situation further worsens, then we may see Nifty and Bank Nifty breaking its current support.