Tuesday, 29 December 2015

Market Brief (21st Dec 2015)

Increase in the US interest rates buy FED, announcement of Finance mister of lower GDP expectation, non clearance of GST in the parliament and some profit taking by short term investor on the weekend were some of the reasons for Nifty closing over a percent lower on Friday, however, the week ended on positive note giving some glimpse of hope for the markets. With few days remaining for the winter session of parliament and some political upheaval, it needs to see how it plans out.  Clearance of some reform bills and stability in global markets and Crude prices will play a key role going forward. 

Technically too, market is critically poised, 7700 on the nifty on close basis is very significant. If nifty closes below these levels and than a breach of 7540 will certainly see 7000 to 7200 coming swiftly. However if 777 is held than Nifty may stage pull back rally to 7900 to 8000 and a close above 8000 on the nifty, the short term trend will look up. From an intermediate term (medium term) 8200 on the nifty is crucial and unless nifty closes above 8200 and stays there the medium term would continue to remain down. Short term range for the Nifty is between 7700 and 8000.

As suggested earlier through our newsletters, investors should have lot of restrain and patience. Be very selective in your approach and avoid stocks of the company that are delivering poor corporate results. Rather buy stocks of well managed, low leveraged and growth company stocks, despite if one has to pay higher prices.

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