Investors should accumulate quality stocks for the long term, as valuations have turned attractive. It is also the time for year-end review of portfolios.
The optimism over US economic growth makes a likely hood for a bull market nearing its maturity, creating huge possibility for new funds deployment in EMs.
As the market rises, resistance is expected at 8,400 level. Buy on dips should be the strategy for traders. The Nifty50 is expected to trade with a positive bias.
Short-term traders may stay on the sidelines till RBI’s policy pronouncement. If interest rates are reduced more than expectations, a brief rally is likely.
Open interest in Nifty futures is at a yearly low, indicating that fewer participants are interested in the market right now due to the uncertainty.
Investors should take the opportunity and start purchasing shares for long-term portfolio while traders can initiate long positions with proper stop losses.
No one will know until Jan what policies the new US Prez will pursue towards IT, pharma, heavy industries and export-oriented units in which India has stakes.
The IPO of ICICI Prudential, biggest since Coal India, came at the crucial time indicating inferences of a top in the intermediate level.
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