Market Outlook for Next Week
Weekly Gain/ Loss
Nifty: -14.25 (-0.16%)
Bank Nifty: -142.5 (-0.75%)
Technical Outlook: After the passing of the GST the sentiments have turned positive, specially of sectors like Autos, Cement, etc. With this momentum nifty can test 8800-8900 in the short term. To support this the US payroll data is also on the positive side.
In the short term Nifty faces resistance around 8700-720 above with it can move up by 1-2%
For Bank Nifty, Nearby resistance is at 19100, above which it can test levels of 19450-600 in the short term
Fundamental Outlook: Fundamentally the valuations still remain very overstretched and any upmove will add up for a reason for markets to correct. The markets are trading at a P/E which is way higher than the average, hence this can lead to 8-10% correction in the medium term
Nifty: -14.25 (-0.16%)
Bank Nifty: -142.5 (-0.75%)
Technical Outlook: After the passing of the GST the sentiments have turned positive, specially of sectors like Autos, Cement, etc. With this momentum nifty can test 8800-8900 in the short term. To support this the US payroll data is also on the positive side.
In the short term Nifty faces resistance around 8700-720 above with it can move up by 1-2%
For Bank Nifty, Nearby resistance is at 19100, above which it can test levels of 19450-600 in the short term
Fundamental Outlook: Fundamentally the valuations still remain very overstretched and any upmove will add up for a reason for markets to correct. The markets are trading at a P/E which is way higher than the average, hence this can lead to 8-10% correction in the medium term
Stock Pick For Next Week
Also Bullish on HeroMotors, Indiabulls Housing
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