Markets seem to be rightly priced at
the moment since some bad or good news is unable to breakout or breakdown the
markets and perhaps the market is anticipating some major news flow.
Nevertheless the market ended the week and the day higher by half a per cent
within the range.
The war like situation between India
and Pakistan if escalates then certainly the nifty would go down below 1000 to
make a panic bottom, however a positive news flows may be victory of present
Govt. though the odds have come down but nevertheless it be a major trigger for
the market. It further appears that stock specific move should continue amongst
the stocks that are well governed, consistent in profit and having low debt.
This is a good portfolio restructure time since good stocks available at decent
price, long term investors should buy these kind of stocks and patiently hold
on to them.
Technical– Technically markets are in a range bound situation,
nifty is trading within a specified range perhaps awaiting some news flows. In
extremely near term the support exist at 10800 and then perhaps at 10640 below
that a corrective action may see sub ten thousand levels. A close above 11050
would initially see 11200 and then perhaps 12000 plus levels should be on card.
The sideways movement suggest that range bound markets will continue for some
more day before breakout or a decisive breakdown. Investors are suggested to be
a good portion in cash to be deployed if the markets breakout, or on deep
correction and panic bottom.
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