Market Outlook and Stock Picks for Next Week
Weekly Gain/ Loss
Nifty: 97.3 (1.14%)
Bank Nifty: 262.75 (1.41%)
Technical Outlook: Nifty at current levels is overbought and might be headed for a short term correction. Open Interest of 8800 and 9000 CE has gone up significantly this week indicating resistance at those levels. Nifty might head towards 8700 or maybe even to 8800-850 factoring GST before a correction.
Fundamental Outlook: Nifty is Currently trading at a P/E of 23.6 against an average of 18 which suggest there is room for correct another 500-800 points in the medium term.
Nifty: 97.3 (1.14%)
Bank Nifty: 262.75 (1.41%)
Technical Outlook: Nifty at current levels is overbought and might be headed for a short term correction. Open Interest of 8800 and 9000 CE has gone up significantly this week indicating resistance at those levels. Nifty might head towards 8700 or maybe even to 8800-850 factoring GST before a correction.
Fundamental Outlook: Nifty is Currently trading at a P/E of 23.6 against an average of 18 which suggest there is room for correct another 500-800 points in the medium term.
Investing and Returns when nifty is at different P/E
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| Source: http://www.craytheon.com/ |
Stock Pick For Next Week
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