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The transaction involves acquisition of Multipie App, technology, brand, domain name, user base and other related matters.
The Nifty50 is up over 12 percent this year and on track to test 16,000, but the move towards 16,400, the next big target, would have ups and downs
We expect the index to resolve higher and gradually retest lifetime highs of 15430 in the coming months. In the process, stock-specific action would prevail amid the progression of Q4 FY21 result season, ICICIdirect said.
The stocks are back on the radar after 10 years of under-performance. Many experts feel that value stocks, or stocks trading below their intrinsic value, would stage a comeback in FY22.
ICICIdirect expects midcap and smallcap indices to witness acceleration and outperform the Nifty in the coming months.
Any dips from here on should be used as an incremental buying opportunity as we do not expect the Nifty to sustain below key support threshold of 11,000-11,200 range
Technical chart patterns indicating a pause in upward momentum. So, experts feel that markets could consolidate in October
India is a major beneficiary of improved global liquidity on lower crude prices. Cheaper crude is a big positive for the Indian economy in such trying times.
Despite elevated global volatility, Nifty midcap and small-cap indices relatively outperformed during June 2020, as both indices rallied 11 percent and 15 percent, respectively.
It has been observed that after a correction of more than 40 percent (seen in 2000-01 and 2008), the Nifty enters a volatile phase. At present, the index will complete its 44 percent pullback around the ballpark figure of 10,900.
The study reveals that Pharma, Chemical, IT, Insurance are some of the sectors which may assume leadership role over the coming years.
There are 94 such companies in India that have helped investors build wealth across the past three decades. Over the past three decades, there have been only three instances of >40% correction at the index level.
With almost nil manufacturing activity in this 21-day period and slow ramp-up thereafter ICICIdirect downgrades Nifty earnings estimates to the tune of 4% for FY20E, 18% for FY21E and 13% for FY22E.
Investors have seen similar situations in the past, and the big takeaway is investing in this market in a staggered way, will create wealth
The ongoing structural improvement makes us believe the index is set to challenge the all-time high of 12100 in the coming months.
Trends on SGX Nifty indicate a flat-to-negative opening for the broader index in India, a fall of 19 points or 0.16 percent. The Nifty futures were trading around 11,906-level on the Singaporean Exchange.
Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a loss of 2 points or 0.02 percent. Nifty futures were trading around 11,862-level on the Singaporean Exchange.
A gap-up opening is likely as Nifty Futures on Singaporean Exchange were trading over 47 points higher. The futures traded around 11,723-odd levels.
Trends on SGX Nifty indicate a flat opening for the broader index in India, a rise of 1.5 points or 0.01 percent. Nifty futures were trading around 11,385-level on the Singaporean Exchange.
Trends on SGX Nifty indicate a flat positive opening for the broader index in India, a rise of 4 points or 0.04 percent. Nifty futures were trading around 10,874-level on the Singaporean Exchange.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 37 points or 0.34 percent. Nifty futures were trading around 10,730 - level on the Singaporean Exchange.
Trends on SGX Nifty indicate a gap up opening for the broader index in India, a rise of 64 points or 0.59 percent. Nifty futures were trading around 10,984- level on the Singaporean Exchange.
Experts expect the positive momentum to continue in coming sessions if the Nifty holds 10,800 levels on closing basis. ICICIdirect has buys on Siemens and Bharti Airtel.