The outcome of the state elections in December 2018 will be crucial for the sustainability of the current rally, said Rajeev Srivastava, Head-Retail Broking, Reliance Securities
Analysts’ suggest investors to buy put options if the market opens lower on Monday to hedge their long positions while some are advising clients to remain in cash at least for the next 3-4 days
Volatility is expected to remain high due to scheduled derivatives expiry on November 29.
The Indian stock market had a healthy 2017, returning upto 29%.
A gap is visible on the technical chart when the price moves sharply either up or down. The gap witnessed last week on Monday was a breakaway gap which usually occurs at the end of the price pattern and signals a new trend or a beginning.
Investors could look to cash in on bullish momentum from Tuesday, even as global markets wait for cues from US Federal Reserve’s monetary policy meeting.
All eyes are on the state election results which are due tomorrow and whether Bharatiya Janata Party, which is also the ruling party, will secure its win in Uttar Pradesh. However, market experts believe that such events are digested in 4-5 days and the focus is back on global news and earnings.
Investors ignored the exit polls announced on Thursday. The exit poll results were not clear as some media outlets predicted a majority for the ruling BJP while others showed gains but not majority in Uttar Pradesh. The state is an important metric as it gives most number of representatives in the Upper House of the Parliament.
Exit polls paint a rosy picture for Bhartiya Janata Party (BJP) in Uttar Pradesh and Congress still is dealing with existential crisis. The verdict for the battle for the states will be declared on March 11.
It won't be unwise to question whether the upcoming IPO of D-Mart might signal a market top as such a coincidence has occurred in the past.
Although he adds that investors have beem closely following Narendra Modi after his decision to ban high denomination currency last year. So, any BJP win or loss by a huge margin is likely to affect market, he adds.
One should expect another week of sideways movement for the market because after four weeks of rally, it is likely that the market needs to consolidate or correct before going to fresh highs is the word coming in from Ashwani Gujral of ashwanigujral.com.
Elections in five statesâ€”Uttar Pradesh, Goa, Uttarakhand, Punjab and Manipurâ€”begin this Saturday, with results due out March 11. As the country's most populous province and one with the biggest share of seats in parliament, Uttar Pradesh is a political bellwether and will be of most importance for the ruling Bharatiya Janata Party (BJP).
Sunil Singhania, CIO-Equity Investment, Reliance Mutual Funds says Indian investors have been very mature and positive towards the market. They have absorbed all the FII selling that has taken place, says Singhania.
Overall, if the exit polls are accurate, then the state election results could marginally improve the BJP‘s seat tally in the Upper House, but the government will need to continue to build a consensus to push through legislative reforms in the Upper House, says Nomura
The world's number two producer announced new rules last month making it compulsory for sugar producers to increase exports to at least 4 million tonnes in the present crushing season to cut stockpiles.
Mehraboon Irani of Nirmal Bang Securities does not see the Fed hiking rates anytime soon. â€œIt is going to be many quarters away according to me,â€ he told CNBC-TV18.
Ajay Srivastava, CEO, Dimensions Consulting recommends subscribing to the GSK Pharma open offer as he believes the drug major will look at delisting eventually.
After emerging victorious in state elections, Yashwant Sinha told CNBC-TV18 the decisive win is a result of people's anger and a points towards national referendum.
Additionally, on concerns of Aditya Birla group stocks being hit due to the illegal payments allegation against the conglomerate, Sabharwal says that such incidents tend to have a very temporary impact.
There was profit booking in financials, FMCG, healthcare and auto stocks while IT and metals bucked the trend.
Sanjeev Prasad of Kotak Institutional Equities expects the new spectrum pricing to be rational and sees further consolidation in the telecom sector. He is also of the view that there is no case for ONGC to pay higher royalty.
There is a possibility of opportunity emerging in different stocks. Deven Choksey, managing director of KR Choksey Shares and Securities, advises traders to concentrate on some of the good quality banks and NBFCs that may see some correction.
A panel of experts on CNBC-TV18 discuss whether the outcomes in the MP and Chhattisgarh could be extrapolated to the results of general elections in 2014.
Professional investor Sangeeta Purushottam says that the market that has become increasingly dependent on liquidity will not be able to offer high returns due to uncertainities in the state elections.