Among sectors, Nifty Pharma along with the metal index are up 1 percent each while FMCG and auto stocks dragged.
As market consolidates these 10 large, midcaps could give 10-29% return in the next 12 months
Markets oscillated in a range and settled almost flat, in continuation to the prevailing consolidation phase. The week was a holiday-shortened one and weak local cues combined with not so encouraging global markets kept the volatility high across the board. However, resilience in the banking space, which holds considerable weightage in the index, helped the benchmark to sustain at the higher levels while other sectoral indices witnessed mixed trend. Among the benchmark indices, Nifty settled at 11,895; down by 0.11 percent.
There’s no major data lined up on the domestic front in the following week and markets will continue to dance to the global tunes. On global front, investors would keep an eye on progress of US-China trade deal, which is lingering from quite some time and minutes of the FOMC meet on November 21. In addition, fluctuation in crude oil price and currency would also induce some volatility in the markets.
Indications are in the favour of further consolidation and we expect Nifty to continue hover within 11,700-12,100 range. Having said that, we feel it’s a healthy pause and the overall trend would remain positive. Besides, the buoyancy in banking index is pointing towards strong possibility of Nifty testing a newer high in weeks to come. Meanwhile, volatility would remain high on the stock-specific front thus we advise maintaining balanced approach in trading, by keeping few shorts as well.
As market consolidates these 10 large, midcaps could give 10-29% return in the next 12 months
Markets oscillated in a range and settled almost flat, in continuation to the prevailing consolidation phase. The week was a holiday-shortened one and weak local cues combined with not so encouraging global markets kept the volatility high across the board. However, resilience in the banking space, which holds considerable weightage in the index, helped the benchmark to sustain at the higher levels while other sectoral indices witnessed mixed trend. Among the benchmark indices, Nifty settled at 11,895; down by 0.11 percent.
There’s no major data lined up on the domestic front in the following week and markets will continue to dance to the global tunes. On global front, investors would keep an eye on progress of US-China trade deal, which is lingering from quite some time and minutes of the FOMC meet on November 21. In addition, fluctuation in crude oil price and currency would also induce some volatility in the markets.
Indications are in the favour of further consolidation and we expect Nifty to continue hover within 11,700-12,100 range. Having said that, we feel it’s a healthy pause and the overall trend would remain positive. Besides, the buoyancy in banking index is pointing towards strong possibility of Nifty testing a newer high in weeks to come. Meanwhile, volatility would remain high on the stock-specific front thus we advise maintaining balanced approach in trading, by keeping few shorts as well.
