Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 23.5 points or 0.21 percent. Nifty futures were trading around 10,907-level on the Singaporean Exchange.
Most experts now feel that India Inc. is on track to register double-digit earnings growth in 2019. If the political environment remains stable, we are on track to hit 40K on the Sensex.
Considering the technical and derivative evidence discussed above, we believe that the short-term trend in the Nifty is still bullish and one should remain optimistic about the market for the coming days.
"Increased interest in 10,200 Put suggests a positive shift in the Nifty range. However, a proximity to resistance levels may induce some small correction which we think would provide a buying opportunity in the near term," says Achin Goel, Head of Wealth Management and Financial Planning, Bonanza Portfolio Ltd.