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Market Brief - 13th August 2018

Market Brief MARKETS TRADED IN A NARROW RANGE DURING LAST WEEK BEFORE ENDING IT MARGINALLY HIGHER, THE MARKETS BREADTH (INTERNALS) WERE TOO WEAK AND THE STOCKS IN FAVOUR OF ADVANCE TO DECLINE WERE NEGATIVE TOO. WITH GEO-POLITICAL CONCERNS IN IRAN AND AS THE STATE ASSEMBLY ELECTION COMING CLOSER THE MARKETS HAS A HABBIT OF GETTING JITTERY, AND SINCE THE COPRPORATES RESULTS ARE BEHIND US WERE A MIX BAG, WITH SOME COMPANIES REPORTING EXCELLENT RESULTS AND SOME REELING UNDER PRESSURE, AND NOW THE GLOBAL MARKETS WILL ONCE AGAIN SURFACE , ALTHOUGH THE WORLD ECONOMIIES AND NOT DOING SO BADLY BUT THE PRICE BUT IT APPEARS THAT THE PRICE DOES NOT JUSTIFY THE VALUE.IT FURTHER APPEARS THAT MARKETS UNTIL ASSEMBLY AND GENEARAL ELECTION WILL BE EARSTWHILE CHOPPY AND VOLATILE. INVESTORS SHOULD KEEP A PORTION OF CASH IN HAND TO BE DEPLOYED ONCE THERE IS STABILITY AND POSITIVE NEWS FLOW STARTS POURING IN. THE BOTTOMLINE IS THAT UNTIL SOME POSITIVE SURPRISES MARKETS WILL LOOK FRAIL AND VULNERABLE FOR CORRECTION

TechnicalMARKETS AFTER 6 WEEKS OF RISE SEEMS TO HAVE LOST SOME MOMENTUM AND IN THE NEAR-TERM IT MAY CORRECT AND CONSOLIDATE UNLESS TECNICALLY CLOSES ABOVE 11500, ON THE LOWER SIDE THERE ARE MULTIPLE SUPPORT RIGHT FROM  10900 TO 11400, MARKETS MAY HAVE WLD SWING IN BOTH THE DIREDCTION UNTILL IT GETS CLEAR THAT MARKETS WILL CONFIRM CORRECTION BY CLOSING BELOW 11360, HENCE IN THE SHORT TERM 11360 ON CLOSE REMANINS VITAL SUPPORT AND BELOW THIS CORRECTION COULD GET SHARPER AND NIFTY WOULD TEST 11240. THE LONG AND THE MEDIUM-TERM TREND WILL STILL BE INTACT.

INVESTORS SHOULD BE STOCK SPECIFICALLY OPTIMISTIC ON THE MARKETS AT THE SAME TIME UMDERPERFROMING STOCK SHOULD FIND A WAY FOR EXIT. SECTOR THAT HOLD PROMISE ARE FMCG, SELECTED STOCKS FROM OIL & GAS & INSUSTRILES.

 

 

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