How are benchmark stock indices placed on technical parameters now? How much downside could be expected? Is this the start of a bearish trend
The trend is negative currently. Seeing targets is difficult but the Nifty could fall till 5850-5900 or lower. Nifty has support at every 50 point drop.
Would you suggest new investors to enter market now given cheap valuation in frontline stocks?
No, i would rather want them to wait for the trend to exhaust itself.
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IT and maybe pharma should do well if the rupee dips.
Latest PMI numbers show there is light at the end of the tunnel for cyclicals. How is Capital Goods index placed on the charts?
Could be bottoming out but it’s too early to say. Would prefer to wait or if you enter now with long, positions, keep stop losses at 2-3 % below entry price
Metal space has been in turmoil ever since China data came out last week. How are JSW Steel and Sesa Sterlite looking on the charts today?
JSW is bearish – could breakdown to 850 or lower. Sesa Sterlite could dip till 174-175
