The Wednesday's breakout has cleared the doors up to the 8,300 level for the bulls where the NSE Nifty50 is likely to face some resistance from the bears.
Stocks which have witnessed bullish crossover with strong volumes include names like Eicher Motors, Maruti Suzuki, SRF, L&T, HDFC, PVR and Supreme Industries.
Retail businesses will be most affected. Banks expect normalisation from Q1FY18, but a slower recovery could lead to a fresh bad loan cycle and delayed capex.
Some rough projections show household savings towards equity markets could touch $100 billion in the times to come from $25 billion at present.
It is critical for Nifty to sustain above the 8,100 level. But for an uptrend to sustain, it should ideally close above its 200-day SMA placed at the 8,158 level.
Analysts have come out with a plan, which can help investors make money even if they pay tax because the strength in the equity market will only grow from here.
India has seen one of the largest outflows within EMs - strong outflow of close to $1 billion each was also seen from South Korea, Brazil, and Thailand.
Total Put open interest of 70.73 lakh contracts stood at strike price 8,000, which will act as a crucial base for the market in the December series.
The S&P IT index has plunged a little over 14 per cent so far in the year 2016 with some stocks losing up to 70 per cent in the same period.
History tells us that events like these offer the compelling case of long term investment especially in small and midcap stocks, only if you have the heart.
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