Experts feel that anything above 270 for BJP on May 23rd will be positive for markets. Although some of the good news is already discounted by the market, hence, profit booking is likely
Among sectors, auto and FMCG index gained 2.5 percent followed by banks and infrastructure, while selling witnessed in IT, metal and pharma sectors.
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In the last week, the S&P BSE Midcap index shed 0.57 percent, Smallcap Index fell 1.55 percent, while S&P BSE Largecap Index was up 0.84 percent in the week gone by.
The S&P BSE Midcap index shed 0.57 percent, Smallcap Index fell 1.55 percent, while S&P BSE Largecap Index was up 0.84 percent in the last week.
The easiest trade to do is go short on both Call and Put. It can be done but still, avoid taking it overnight and even during the day keep a strict stop loss
MSCI Emerging Market Index is up by 6.1 percent, but MSCI India is almost flat with measly 0.7 percent appreciation. India is hugely underperforming.
The S&P BSE Midcap index slipped 0.57 percent for the week ended May 17 while the S&P BSE Smallcap index was down 1.5 percent in the same period.
Foreign investors pulled out a total of Rs 9,000 crore, which can be attributed to the uncertainty over the 2019 general election results.
The VIX is still trending at a multi-year high and a high VIX suggests that volatile swings could continue in the market ahead of Election polls and outcome.
In terms of stocks, ICICIdirect list out top 10 largecaps which saw buying by fund managers in April include names like Vodafone Idea, DLF, BHEL, Indiabulls Housing Finance and SAIL.
For long term investors, any dip should be used to buy into quality mid & smallcaps. Anecdotal evidence suggests that the equity market has given over 10 percent CAGR returns over the 10-year time horizon.
One more follow up closing above 11,330 and 5 EMA will confirm the reversal of the trend at least in the short term, says Shabbir Kayyumi of Narnolia Financial Advisors.
On May 16, S&P BSE Oil & Gas rose 1.5 percent, followed by the S&P BSE realty that gained 1.3 percent, and the S&P BSE Power that was up 1.3 percent
The crucial support for Nifty is placed at 11,100 while on the upside, the index is likely to find tough resistance around 11300
Volatility index which is already near 4-year high is trading is expected to surge further as we head towards May 23. It is when stocks which are trading at a premium could face some pressure
Among the sectors, metal index slipped 2 percent followed by auto, infra, pharma, FMCG and bank.
Most stocks comprising the auto sector show strong support signs this week. They include Maruti Suzuki, Tata Motors and Hero MotoCorp
Despite pouring in Rs 40,000 crore during January-March 2019, FIIs have sold net Rs 20,000 crore worth of stocks in last one year
Except Nifty IT, all other sectoral indices ended in green led by PSU bank, infra, pharma and energy up 1-3 percent, followed by metal, FMCG and auto.
Historical analysis of past 3 general elections reveals that election years are good for the equity markets with positive returns in each of those calendar years, Elara Capital said in a report.
Experts say multiple headwinds could push the markets lower going forward.
At close, Sensex was down 372.17 points at 37,090.82, while Nifty was down 130.70 points at 11,148.20.