Monday, 31 August 2015

Market Brief (31st August 2015)

Markets saw a severe crash last Monday (24th Aug ’15) on the back of Chinese market meltdown, fall in overall Global markets, and drop in commodity prices. Moreover, the short and medium term trend being down, it ended the last day of this trading week (Friday) on a flat note, giving a weekly return of  negative 3.6 percent each (Sensex and Nifty), amid rally in US and Asian markets barring Hong Kong, weak European cues, weak rupee versus dollar, falling crude oil prices. A dash of positive sentiments aroused amid hopes of delay in Fed rate hike, China pumping in money to boost its economy, and mild hopes of rate cut by RBI this September.

Technically, markets have discounted all the factors, its short and intermediate (medium) term trend still being down. Volatility in the markets will continue for some more time to come. Nifty will stoop down more if it closes below the level of 7670, and can jump higher if it closes above the level of 8230. Markets are poised and will be trading between the critical levels of 7800 and 8300, until and unless huge news comes in way, negative or positive.

Export oriented companies are going to do well in the coming week, belonging to sectors like Information Technology, Healthcare, and some Oil Exporting companies.

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