Indian Equity markets had a flattish session on Friday. After remaining in a positive zone in the first half, markets lost the momentum and dragged down to its lows of the day, finally closing around 0.25%. The sector that looked really weak was cement where all major stocks like ACC, Jaipakash and Ambuja Cements fell down.
RBI Rate Hike, albeit happened post market timings will have an impact on the markets tomorrow morning. The banking and automobile stocks are likely to face some resistance tomorrow morning while IT and Pharma stocks might regain some buying.
The outlook for this month looks quite challenging. The markets are likely to face strong headwinds at the upper levels while it may find some support coming in lower levels due to strong funds inflow coming from overseas. Hence, we are likely to see a range bound market during the current month.
For coming few days, the outlook seems unclear as markets are equally balanced between bulls and bears. Hence one is advised to sell Nifty only if it breaches 5155 on the lower side with stop-loss of 5215 and target levels of 5080. On the upside, one may buy Nifty above 5320 with stop-loss of 5270 and target price of 5400.
Just as a statistical note, for all the stratgies recommended in June, our Booked P/L comes at 35000 Rs which has been good. For open positions, P/L has been around 20000 Rs.
Wishing you a great trading day tomorrow!!
RBI Rate Hike, albeit happened post market timings will have an impact on the markets tomorrow morning. The banking and automobile stocks are likely to face some resistance tomorrow morning while IT and Pharma stocks might regain some buying.
The outlook for this month looks quite challenging. The markets are likely to face strong headwinds at the upper levels while it may find some support coming in lower levels due to strong funds inflow coming from overseas. Hence, we are likely to see a range bound market during the current month.
For coming few days, the outlook seems unclear as markets are equally balanced between bulls and bears. Hence one is advised to sell Nifty only if it breaches 5155 on the lower side with stop-loss of 5215 and target levels of 5080. On the upside, one may buy Nifty above 5320 with stop-loss of 5270 and target price of 5400.
Just as a statistical note, for all the stratgies recommended in June, our Booked P/L comes at 35000 Rs which has been good. For open positions, P/L has been around 20000 Rs.
Wishing you a great trading day tomorrow!!
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