After a hiatus, it feels good to come on Writing board on blogger. Thanks to blogger for providing me a personal space.
Anyways coming back to Indian Equity Markets. After breaking the crucial technical levels last week, Indian markets remained in backfoot during the first two days of the week. This seems anticipated as Indian markets look richly valued at the current levels. The earnings season has been a bit disappointing, though monsoon and other macro economic indicators are giving a positive signal. Another factor which is driving the markets has been liquidity. FIIs have been pumping continouous inflows into the Indian equities and help the markets sustain at the current levels.
Today is the critical day for the markets as US Federal Reserve will be sitting tonight to gauge the current economic scenario. It is highly probable that US Federal Reserve will announce more stimulus measure for the economy to help it tide over the current recession.
The downside tonight in US markets could trigger short term blip in Indian equities which might take benchmark index Nifty to 5350-5370 levels. If this level too gets breached, then next support only come at 5280. On the contrary if US markets overcome the initial weakness and opened flat / in green tonight, we might see Nifty heading to 5525-5540 levels in the short term. I am quite optimistic that liquidity situation should help its reach these levels.
Fundamentally, two stocks which are looking attractive at the current levels are GMR Infra and Suzlon Energy. Both the stocks have been languishing in 55-60 Rs range. Both the companies have been saddled with debt burden but are doing their bit to tide the difficult situation and can be accumulated with a long term perspective.
Wishing you a great trading day tomorrow!!!
Anyways coming back to Indian Equity Markets. After breaking the crucial technical levels last week, Indian markets remained in backfoot during the first two days of the week. This seems anticipated as Indian markets look richly valued at the current levels. The earnings season has been a bit disappointing, though monsoon and other macro economic indicators are giving a positive signal. Another factor which is driving the markets has been liquidity. FIIs have been pumping continouous inflows into the Indian equities and help the markets sustain at the current levels.
Today is the critical day for the markets as US Federal Reserve will be sitting tonight to gauge the current economic scenario. It is highly probable that US Federal Reserve will announce more stimulus measure for the economy to help it tide over the current recession.
The downside tonight in US markets could trigger short term blip in Indian equities which might take benchmark index Nifty to 5350-5370 levels. If this level too gets breached, then next support only come at 5280. On the contrary if US markets overcome the initial weakness and opened flat / in green tonight, we might see Nifty heading to 5525-5540 levels in the short term. I am quite optimistic that liquidity situation should help its reach these levels.
Fundamentally, two stocks which are looking attractive at the current levels are GMR Infra and Suzlon Energy. Both the stocks have been languishing in 55-60 Rs range. Both the companies have been saddled with debt burden but are doing their bit to tide the difficult situation and can be accumulated with a long term perspective.
Wishing you a great trading day tomorrow!!!
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