Nov 19, 2012, 08.47 AM IST
According to Jyotivardhan Jaipuria of Bank of America Merrill Lynch, the key event to focus on is the Parliament session that commences November 22nd
Here are experts equity calls for the day on how the markets are expected to trade:
Michael Kurtz, Nomura: Nomura's Sentiment Indicator and Global Risk Appetite Monitor have both retreated to levels associated with risk aversion over the looming US fiscal cliff and foreign net-selling of Asia ex-Japan shares totalled roughly USD 1 billion. Earnings results have also not provided any rationale for fresh upgrades.
Jyotivardhan Jaipuria, Bank of America Merrill Lynch: Our view is that the key event to focus on is the Parliament session that commences November 22nd. If the opposition-sponsored motion opposing FDI in retail is defeated and FDI in insurance is cleared by Parliament, we believe there could be a rally in spite of the poor macro data. However, a turn in the economy is going to be a slow process and, hence, market gains will be moderate.
Narrow range movements in Nifty suggest consolidation; another big move is coming soon, maybe on Thursday, almost certainly by Monday December 9
After two days of strong up moves, a consolidation was expected. That has come about. We suggested closing long positions in the Nifty, a trade that gave 100 points. We can expect markets to expand soon enough. Expanding markets suggest big moves. Therefore, the next few days should provide trading opportunities.
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