NEW DELHI: Dalal Street looked euphoric this morning after Prime Minister Narendra Modi late Tuesday unveiled a Rs 20 lakh crore economic stimulus and promised major reforms to get the economy quickly out of the Covid-19 disruption. Here’s breaking down the pre-market actions.TRADE SETUP Singapore trading sets stage for gap-up start Nifty futures on the Singapore Exchange traded 211.30 points or 2.29 per cent higher at 9,436.30 on Wednesday, indicating a gap-up start for Dalal Street. Tech view: Nifty forms Doji candle The Nifty50 recovery on Tuesday from the lows coincided with the 200-day SMA on the hourly chart, which offers hope for the market, said Ruchit Jain of Angel Broking. “If the bulls manage to take the index beyond the 20-DMA level at 9,235, the recovery can get extended to 9,300-9,450 levels,” said Aditya Agarwala of YES Securities. Asia markets fall in early trade Japan’s benchmark Nikkei 225 index fell 1.11 per cent or 226.92 points to 20,139.56. Hong Kong’s Hang Seng slipped 0.55 per cent, or 134.01 points, to 24,111.67. China’s benchmark Shanghai Composite eased 0.30 per cent, or 8.60 points, to 2,882.96. Brent prices drop 1.6% Oil prices fell in early Asian trading on Wednesday after industry… Read full this story
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