“Our overall sense is that largely the bullish bias which we were carrying prior to election outcome remains intact. The only challenge what probably we need to sort of look at the element of populism which might come by and if the quantum is not so high, then overall directionally things are going to remain … Read more
After a sharp rally over the past two months, the Nifty is poised to take a pause and consolidate, maintaining a positive bias within the broader range of 21,600-20,800. Analysts suggest that any potential breakout above 21,600 could propel the index to a new all-time high within the range of 22,000-22,200. Stocks such as L&T, … 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
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
The past five sessions remained much on the expected lines as the headline index saw some corrective moves, took support at important levels, and ended with a minor cut. The trading range also narrowed a bit as compared to 614 points in the week before this one. Nifty moved in a 390-point range. While successfully … Read more
After three days of strong technical pullback, the domestic equity market spent the second day consolidating with an inherently positive bias on Friday. On the last trading day of the week, headline index Nifty opened on a modestly negative note, but soon crawled in the positive territory for a brief moment. As the selling pressure … Read more