The brokerage house observed that the power regulator seems to be nudging the sector to more flexibility.
Sectorwise, he is betting on sectors such as steel, infrastructure, chemicals, and optical fibre cables as the opportunities in these sectors remain sizeable
S Krishnakumar believes that there is chance to make a lot of money when there is fear among investors. Valuations have drained out and earnings trajectory looks better, he said.
Investors need to be careful while selecting stocks in midcap space as any unfavourable result in state elections would result in a drastic fall in midcaps and smallcaps
“We continue to remain positive on markets till it sustains above 10,700 levels,” says Vikas Jain of Reliance Securities
“The Nifty ended last week with an inverted hammer candle, which implies nervousness still persists” says Jaydeb Dey of Stewart & Mackertich Wealth Management
Going forward though, market experts see earnings as well as monsoon to be the next big triggers.
"This week, we expect the market to remain rangebound between 10,925 on the upside and 10,720 on the downside," Dinesh Rohira of 5nance.com said
Rajesh Palviya of Axis Securities feels if Nifty crosses 10,900 levels then short covering can pull the indices to the 11,000 mark.
Sumit Bilgaiyan of Equity99 said the key factors such as rupee's movements against the US dollar and fluctuations in crude oil prices as well as developments on monsoon's progress will impact investors' risk-taking appetite.
Though Nifty remained positive, the chart structure will not turn bullish unless we register a decisive close above 10,930 levels, says Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in.
Focus on the growth rate of the industry including future growth potential is a must
Investors are advised to remain cautious and await for a breakout or a breakdown before initiating fresh positions.
The brokerage house has a hold rating on DLF, while it has a buy call on Godrej Properties and Oberoi Realty.
The global investment bank is betting on cross currency movements being favourable for the company so far.
Brokerage house bets on the companies on the back of good track record of execution scale-up.
Manish Sonthalia of Motilal Oswal AMC cites regulatory approvals as well as reduction in price erosion in the US as reasons for the upmove in pharma stocks
The company’s Board will be meeting June 21, 2018 for the purpose of allotment of 6356549 Equity shares of the company as bonus shares at par in proportion of 1 (one) such new Equity share for every 4 (four) existing equity share, the company said in a filing to the exchanges.
Buprenorphine and naloxone are used to treat adults with opioid addiction.
“The Nifty ended the session with a Hanging Man candle, which implies that nervousness still persists” says Jaydeb Dey of Stewart & Mackertich Wealth Management
"10,929 will act as strong resistance and only a weekly close above this level will negate the bearish candle. On the flip side, 10,710 will act as immediate support, followed by 10,620," says Aditya Agarwal of Way2Wealth Brokers.
Investors are advised to remain cautious and a decisive breach of 10,767 on Friday could extend the decline while strong resistance is placed at 10,900-10,930 levels, suggest experts.
Signalling that the move would not mean rapid policy tightening in the coming months, the bank also said that interest rates would stay at record lows at least through the summer of 2019, suggesting protracted support for the economy, even if at a lower level.
The Nifty50 hold on to its crucial support placed at 10800 levels and made a bearish candle which looked like a ‘Hammer’ like pattern on daily charts.
Post-correction, pharmaceutical companies are now available at reasonable valuations making them attractive to long term investors