With the Indian economy shining like a bright spot in a troublesome global macro backdrop, foreign institutional investors (FII) investment on Dalal Street has crossed the $10 billion mark in FY24, propelling Nifty to a record peak above the 18,900 mark. After being net sellers in the last two financial years, FIIs have been singing … Read more
BofA Securities recommends investors to book profits in Indian equities as it sees risks of a recession in the US emanating from the banking crisis, debt ceiling risks and the ongoing liquidity tightening by the central bank. “We see no upside to our Nifty year-end target of 18,000; would look to book profits,” equity strategist … Read more
“S&P over the past four months has been trading in the 3800-4100 range. Should the S&P break below that 3800 area, that would increase the probability of a Nifty break below 16,800,” says Laurence Balanco, Technical Analyst, CLSAFor the S&P, a break below 3,800 really opens the door for a retest of the October lows … Read more
Besides forming lower highs and lower lows on the hourly charts, Nifty today formed a tall bearish candle on the daily charts as it revisited mid-October levels. Now, till it remains below 17250 zones, weakness could continue towards the next psychological support of 17000-16800 levels, while on the upside hurdles are seen at 17350 and … Read more
Following wild swings on the Budget day, headline index Nifty today formed a long-legged Doji candlestick on the daily chart, which is indicating an indecisive trend. Now, it needs to hold above 17,777 zones, for an up move towards 17,950 then 18,018 zones whereas supports are placed at 17,500 and 17,350 zones, said Chandan of … Read more
NEW DELHI: Citing Nifty‘s PE ratio, which is trading above its long-term average, Jefferies’ global head of equity strategy Christopher Wood had last week described Dalal Street’s valuation as “undoubtedly challenging”. To find out how expensive are index-level valuations now, let’s look at 3 key parameters:1) Buffett IndicatorIn terms of the market capitalization-to-GDP ratio, which … Read more
Probably the most common question asked to us market participants is “ Market kya lag raha hain ?”, (How do you see the markets faring?)”. The replies also, more often than not, would probably be non-committal, such as “ Accha hi hain” (It’s all good). For one, we have seen markets generally doing well over … Read more
NEW DELHI: Notwithstanding the recent stress in equity markets over fears related to recession and rising Covid cases, Santy Rally may make investors richer towards the end of December if history is a clue. Market data of the last two decades shows that Nifty not only has an 80% chance of closing higher in December … Read more
Led by buying in () and other heavyweights in banking and IT stocks, India’s heartbeat index Nifty on Monday zoomed past its previous all-time record high of 18,604 hit earlier on October 19 last year. The index took 275 trading sessions to beat the feat touched 13 months ago. After hitting a 52-week low of … Read more
The Nifty is heading towards 18,900 levels in the near term with traders building bullish bets on the market, say technical analysts. Traders should, however, adopt a stock specific approach and look to add quality stocks such as , , L&T, , ACC and for a 5-7% upside in the short term, they said. SUDEEP … Read more