Tuesday, 29 December 2015

Market Brief (28th Dec 2015)

Absence of any major triggers held the markets in a range with substantially low volumes, to end the day on flat note, though the week finished on positive up by two percent.  Although the markets expressed in terms on Nifty gave a flat close, but lot of buying was witnessed in selected mid and small cap companies and it appears it will continue for some more time.  The market for the Next week is crucial, from the point of view that it is headed towards a important event like the derivative settlement, Year end 2015 close, crude struggling to get bottomed out and jittery global equity markets. It further needs to be seen how the corporate results are unfolded next month, with the current valuation and lower expectation any positive surprise for the markets will see a sharp upward spike, and on the other hand since the undertone is bearish, further bad news would create a panic situation in the markets. Investors need to watch this development closely before taking a call on the markets.

Technically too markets are crucially poised, A trade and a close below 7600 this time see a sharp downside and a capitulation period for the markets, however if the nifty manages to keep its head up above 8000 would than test 8200, its only if the nifty closes and stays above 8200 will bottom out this markets or its vulnerable for a deep fall. The first range to watch on the nifty is 7600 and 8000 and further 7800 to 8200.

The year 2016 will be stock pickers markets and if one spots the right stock, money is still there in abundance and bad selection would jeopardize ones portfolio.

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