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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