Although we gave up some of the gains in the latter half of the month, the indices are still trading above its crucial support of 11550-11600 and hence, the trend has not been distorted yet.
The rollover in Nifty is slightly higher than its 3-month average. However, FII’s have more shorts in the index futures segment at the start of the new series.
Investors can keep 70% of the portfolio in long-term investments while the rest 30 percent could be in liquid cash.
Experts are of the view that it is critical for the Nifty50 to hold on to 50-Days EMA for the bulls to regain control. A close below Friday’s intraday low could take the index towards 11000 while on the upside resistance is seen at 11750.
“Our thematic approach has seen consistent results and we continue to believe in our structural themes of IT, digital, pharmaceuticals, consumer staples, rural, chemicals, and automobiles,” Neeraj Chadawar, Quantitative Equity Research at Axis Securities
The Nifty has to cross and hold above 11750-11777 zones to get the bull’s grip for a bounce towards 12020 then 12200 zones ahead of the festive season.
L&T fell by about 5 percent, Tata Motors was down by over 2 percent, and Federal Bank dropped more than 2 percent on October 29.
Valuations are reasonable and there are buying opportunities in banking, OMC, PSU, and telecom stocks, says CIO of Mirae Asset MF
Experts are of the view that yellow metal should be able to hold on to 50,250-50,000, and on the upside, crucial resistance is placed at Rs 51,000.
PMS schemes that gave more than 50 percent return include Nine River Capital’s AURUM Smallcap theme that delivered nearly 95 percent return in the last six months.
Over the last three months, Axis MF has tilted its investment portfolios in favour of defensives like IT and pharma while shifting allocations in the financial services sector, says Jinesh Gopani, Head of Equity at Axis Mutual Fund
After a swift rally, the NIfty is consolidating around resistance levels of 12000, an important level from the market as well as option writers' perspective. The short-term support is now placed at 11,600.
Given that the biggest strength of any organization is its employees and systems in place - HDFC Bank has a really long runway ahead where it can unfold itself into a global mammoth financial service provider.
The bias continues to remain positive with respect to the positive weekly close of Nifty and is holding the support levels of 11,750 despite global volatility.
The Nifty is in a triangular pattern on the hourly chart, which is nearing its maturity. Once the swing high of 12,025 is crossed, the pattern will be considered to have broken out on the upside.
Market is closely watching these numbers to expand multiple of earnings for 2nd half of the financial year.
The market can correct 10% at any moment of time, more so when the market is pricing in a recovery. So, if it falls go and buy the stocks you found attractive on fundamentals
Shrikant Chouhan of Kotak Securities said the strategy should be to buy Nifty if it crosses 11,950 levels
Going by the current momentum, Nifty could keep inching upwards. New high for the Nifty is barely 5 percent away.
Booking profit could be a trading call, but if investors want to remain invested then some of these stocks could give higher returns in the next 2-3 years
ACC which hit a fresh 52-week high closed with gains of over 2 percent, Newgen Software rallied more than 9 percent to a new 52-week high of Rs 269 and Ester Industries was locked in upper circuit of 20 percent on Wednesday.
Overall, we think earnings of listed companies may show an improvement over the June quarter.
Month-on-month economic data has been positive and most companies have seen an uptick in sales. The economy is keeping pace with the stock market and Nifty earnings will see a growth this quarter, says Sunil Singhania, founder, Abakkus Asset Manager
Stocks like Britannia Industries which fell nearly 6 percent, Oberoi Realty was up nearly 20 percent, and HCL Technologies closed with gains of more than 4 percent on Tuesday were some of the stocks in focus.
From the next 2-3 years perspective, we are bullish on IT, Healthcare and Speciality Chemicals. Investors can benefit from these themes which are playing out well currently and it is crucial to build a portfolio.