REGISTER FOR FREE TRIAL

Contact Us

  • Call Now           : 9022978637 / 022-23007290
  • Email Address : info@adaafadvisory.com
  • Address Info    : 102, 1st Floor, Topaz Society,
          Dr. Nair Road, Agripada,
          Mumbai Central (E),
          Mumbai 400011

Close Login

Login

Blog Details

Market Brief - 30th July 2018

Market Brief – undertone being bullish, and some policy announcements on GST reduction followed by across the board good corporate results witness a sharp rally into new historic high to end the week on robust note, up almost 2.75%, once again justified that the market is in full control of bulls and more upside is coming. Buying was witnessed in sectors like Banking, Consumer goods, including FMCG, selected Pharma stocks, Oil & Gas and Mid-Caps. Reliance has given a decent set of numbers and it must be seen how the markets react to it, perhaps positively and in that case, markets will see much higher levels. With oil prices retreating, it has given further impetus to markets. In the near term, it appears that market has no threat but in the medium term with the forthcoming assembly as well as Lok Sabha elections at the end of the year remains a caveat (a warning). Selective investment is suggested and the penny stocks that have been battered down should be avoided. One should invest in the leading stocks.              

Technical – markets are well poised to see higher levels after a successful breakout above the previous historic high of 11170 and that too with increased volumes, signifying more participants, on the higher side Nifty is likely to test 11500 to 11600 levels. On the lower side there are multiple supports right from 10900 to 11200. Lower levels should be used for buying selectively. In the longer run the Nifty is likely to test 12000 plus levels.

 

Join our Blog


   

© 2015 Adaaf Advisory Services. All rights reserved.

SEBI REGD NO: INH000001683