“As such state elections do not have any impact on stocks.
“The mood and mind space is entirely on COVID and with every passing day, it is becoming more and more apparent that the second wave will impact corporate profits and investor sentiment.
The gross Goods and Services Tax revenue collection for April, 2021 hit yet another peak of Rs 1,41,384 crore, as per the press note released by the government.
“Overall considering the election as a non-event, the record high GST number shared on Saturday can be positive for the market.
The index has formed a higher base above 100-day EMA coincided with a lower band of channelised move of the past two month’s correction.
“Since March 2020, the Nifty has maintained the rhythm of not correcting more than 9% and time-wise not correcting for more than two to three consecutive weeks.