Feb 07, 2013, 01.02 PM IST
We see limited policy flexibility to stimulate growth in the near-term. We are Overweight financials, IT services & health care sectors and Underweight materials, energy and consumer discretionary, says Bharat Iyer, JPMorgan.
Bharat Iyer, JPMorgan said that, "FII ownership of Indian equities is at an all time high. From a technical perspective this position highlights the vulnerability of India to a global risk- off trade, which extends to the currency as well. We see limited policy flexibility to stimulate growth in the near-term. We are Overweight financials, IT services & health care sectors and Underweight materials, energy and consumer discretionary."
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.
Tags: Bharat Iyer, JPMorgan, financials, IT services , health care , materials, energy , consumer discretionary
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