We expect consumption to pick up post elections due to lower base and phasing out of inventories in the system.
Mazhar Mohammad said nevertheless as apparent weakness on price chart is not visible, traders are advised to focus on stock specific opportunities on long side as long as Nifty sustains above 11,550 kinds of levels.
If Nifty trades lower than 11,540 on closing basis decisively, then we can expect the cut to get deeper till 11,311. Until then, Nifty is likely to pendulum between 11,540 and 11,760, said Manali Bhatia of Rudra Shares
Our preferred themes continue to be banking, IT and consumer. These sectors have various tailwinds in their favour and are likely to deliver decent absolute returns in FY20, said Naveen Kulkarni of Reliance Securities
Nifty breaks the support level of 11,550 and closes below the same, it would drag the sentiment
Any negative outcome from elections and continued slowdown in domestic and global economic growth can lead rupee to go over 70/$
"These four spaces are classical Indian plays because they play naturally into India's distinctive tendency to pump up the budget deficit and spray money at the poor," he said.
Since Nifty could not sustain opening level and traded below the weekly pivot point (11,670), which acted as a stiff resistance through the last week, it must sustain above 11,670 for further upside action
For next week Nifty has strong support at 11,550-11,500 and resistance at 11,710-11,760, said Sumit Bilgaiyan of Equity99
Option writers were seen placing bets on either side to take advantage of the time decay. The Nifty PCR open interest wise stands at 1.54, keeping the room open for the upside
The gap between the broader markets and frontline Nifty stocks will soon lessen as the bull market resume when the small and midcap stocks will begin their upwards journey.
Measuring gaps are formed during continuation of a rally and are called ‘continuation gap’. This gap gives good trading opportunity particularly if the measuring gap has come after a breakaway gap.
The Reduction in both Price and Open Interest could be labeled as Long Unwinding and on the flipside of the same logic, Increment in Price with Reduction in Open Interest could be seen as Short Covering
Corporate earnings, especially of domestic oriented companies are showing an improving trend. We don’t expect any immediate significant earnings pick up atleast for next two quarters.
We expect Bank Nifty is expected to trade in range of 29,500-30,100 in coming week.
In the fixed systematic transfer plan, the transferable amount will be fixed and predetermined by the investor at the time of investment.
On a weekly basis, the rupee ended marginally higher at 69.15 on April 12 against the April 5 closing of 69.22
Lackluster trade is likely to continue in the coming week with just three active trading sessions
Mazhar Mohammad said unless Nifty decisively breaches 11,760 levels more upsides shall not be expected in near future.
We are not very optimistic on the sector as capacity additions are likely to continue and pricing discipline will therefore be intermittent in nature.
The index touched an intraday high of 11,606.70 and low of 11,550.55, before closing 12.40 points higher at 11,596.70
A stable government will give a good fillip to the markets as it removes economic & policy uncertainty and portfolio inflows, said Aniruddha Naha of DHFL Pramerica Asset Managers
There has never been dearth of quality and alpha-generating stocks in the market irrespective of cycles. Hence, the investors may still invest in quality stocks
IT companies are expected to post strong revenue growth in the seasonally-weak fourth quarter, said Sidharth Sedani of Anand Rathi
Mazhar Mohammad advised traders to consider fresh shorts once Nifty closes below 11,549 levels.