Saturday, 19 January 2019

Stock Market Brief by Imtiaz Merchant for 21st January 2019

Markets on the back of improved quarterly result by few large cap companies like Reliance, Infosys, Wipro, Hind Unilever etc. and some policy announcement by the Govt. on agriculture, infra-structure and DIGITIZATION, and with reduced inflation and better economic outlook the markets ended the week on higher note, up over 1 per cent, apart from these companies some more Mid and Small cap companies gave improved result but the buoyancy in the market will come once the election results are announced that is three to four months away, further with improved global markets it appears that the year 2019 will be a better year for Investment. The sectors look poised to grow in sectors like Consumer goods, Healthcare, Information Technology and Infrastructure.
Investors should be stocks specifically and cautiously optimistic on the markets and buy only those stocks that are giving consistently good earnings and conversely ignore stocks with poor earnings.

Technical Technically markets looks poised against the major breakout at 11200 minor breakout at 11050, if the markets is successful in clearing the deck of this two major huddle, then certainly it will poised to test the all-time  high of around 11800, if closes above this level then certainly test much higher levels. However if it fails to close above major huddle of 11200 and close below 10780 it will once again go for corrective action. Hence the initial range for the Nifty is between 10780 and 11050 and wider range of 10700 and 11200.

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