FM Tax Booster 4.0

Nifty 50 jumps 550 points on FM Tax Booster

FM TAX BOOSTER resulted in NIFTY 50 rallying 550 POINTS closing at 11250 above, the government on Friday 20th Sept 2019 slashed effective corporate tax to 25.17% inclusive of all cess and surcharges for domestic companies.

GST Council Meet in Goa

20th september 2019

Nifty 50 Biggest rally in the decade

In a major fiscal booster, the government on Friday 20th Sept 2019 slashed effective corporate tax to 25.17% inclusive of all cess and surcharges for domestic companies. 15% coperate tax for new manufacuring companies, this will attract new manufacuring companies in this phase of tradewar.

Investors witnessed the biggest rally in the last 10 years with Nifty50 going up 600 points and tops 11300 and recovered 7 weeks fall within 2 hours. Stocks like RELIANCE, HDFC , ICICIBANK ,HDFCBANK and almost all Stocks in Manufacturing, FMCG and auto sectors jumped 4 – 8 % in this rally.


Nifty 50 closes 5.32% UP, Breaking 3 weeks High

Timeline of Nifty 50

20th September 2019

09:15 AM | Gap up Market

Nifty @ 10746

Nifty 50 opened slightly Gap-Up in the begining of market hours.

20th September 2019

09:20 AM | Support @ Prev Close

Nifty @ 10712

Nifty had support at 50 SMA in 2 mins chart and support at 4 EMA in 5 mints chart.

20th September 2019

10:00 AM | Support @ 20 SMA

Nifty @ 10706

Nifty closed below 20 SMA support, but all the other indicators are positive and Nifty didn't break the day low to trigger a downtrend.

20th September 2019

10:35 AM | Uptrend Signal

Nifty @ 10714

Stocks trading above 50 SMA was greater than stocks trading below 50 SMA and in future segment, 114 stocks were trading above 20 SMA and 48 stocks were trading below 20 SMA.

10:35 AM | Uptrend Signal
20th September 2019

10:45 AM | Rally Begins

Nifty @ 10740

Nifty had support in the Middle Bollingerband and it crosses above 100SMA for the first time in 5 mins chart. ADX signal started to show a positive trend .

In future segment, 86 stocks were trading above supertrend and 76 stocks were trading below supertrend.3 million volume was seen in nifty 50 futures(2min candle).

10:45 AM | Rally Begins
20th September 2019

11:00 AM | FM Tax Booster News

Nifty @ 10932

"We today propose to slash the corporate tax rates for domestic companies and for new domestic manufacturing companies," the finance minister said at the meeting.
lowering corporate tax rates to one of the lowest levels in Southeast Asia and allowing new manufacturers to avail minimum corporate tax at 15%.

20th September 2019

11:45 AM | Nifty 500 points Up

Nifty @ 11198

Nifty is 500 points up in a intraday, which is the biggest rally in decade. Nifty recovered the 7 weeks falls within 1 hour.

11:45 AM | Nifty 500 points Up
20th September 2019

12:20 PM | Nifty in Range Movement

Nifty @ 11242

Nifty closed below 4EMA for the first time since the rally started and entered in to a range movement.

20th September 2019

01:30 PM | Nifty Breaks New High

Nifty @ 11280

Day high of 11273 was broken at 1:30pm and the rally set to continue.

23rd March 2020

02:25 PM | Nifty Stopped the Rally

Nifty @ 11312

In 5 mins chart Nifty closed below 10 EMA and ADX signals started to show negative signal. Number of future stocks crossed below 20 SMA increased. 60 Stocks began to trade below supertrend @ 2:25 PM.

02:25 PM | Nifty Stopped the Rally
20th September 2019

03:30 PM | Nifty closed above 11250

Nifty @ 11274

Nifty gained over 5% in intraday and closed above critical resistance @ 11250, all the sectors excluding IT, rallied along with Nifty.

FMCG and Auto sectors were the top gainers in the rally.

Atlas -Btech Traders

The following were the indicators we got from the atlas chartink. These jumps and crossovers are provided in realtime from chartink platform. These indicators guided us in the entry point and exit point of the huge rally of nifty 50.

What happened ?

Investors witnessed the largest intraday gain of 600 points on Friday 20th sept 2019. Nifty crossed above all the resistance in the day chart, which is a big relief for the investors as Nifty closed above critical resistance of 11250. Logging its biggest intraday spike in over a decade, market sentiments changed from Bearish to Bullish.

The finance minister Nirmala Sitharaman also said the government will not levy the enhanced surcharge introduced in the Budget on capital gains arising on sale of equity shares in a companies liable for securities transaction tax.

Even though, this rally provided a big relief to the investors as a big fall happened after the budget 2019. Nifty recovers into a bullish trend only if there is a same momentum in the coming days. 

TOP Gainers

Top Gainers

Top gainers in the Sensex pack included Hero MotoCorp, Maruti, IndusInd Bank, Bajaj Finance, SBI, M&M, HDFC Bank, HUL and L&T, rallying up to 12.52%.

TOP Losers

Top Losers

Top losers in the Sensex pack included PowerGrid, Infosys, TCS, NTPC and Tech Mahindra losing up to 2.39%.
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