Oil, commodity and financial sectors will impact the market

1. Bull market or bear market today?

We expect Nifty to test lower levels of 11,600. A fall in Asian markets will test market’s support levels. Sebi’s action on NSE will also add to the negative sentiments.

2. Stocks likely to be in limelight today?

Impact of YES Bank’s fall might spread to other private sector banks. 

3. Sectors likely to impact market today?

Oil, commodity and financial sector will lead the market due to rising oil prices and bad loan provisioning.

4. Your mid-term view?

This month market will be highly volatile but unlikely to move decisively before election results.   

5. What drove markets on Tuesday?

Sensex and Nifty made a smart rebound in the afternoon trade but closed in the negative territory. YES Bank’s shares plunged 30% to close at Rs 166.55, after the firm’s Q4 shocker. 

Abhijeet Bajpai, co-founder, Avighna Trades