Nifty outlook and trading ideas by CapitalVia: Buy Gruh Fin, Bank of Baroda

Technical Calls by Gaurav Garg, Head of Research at CapitalVia Global Research Limited- Investment Advisor

Nifty View
 

If we take a look at Bond Yield, India’s 10-year government bond rose over 10 basis points (bps) to hit a six-week high on Wednesday, August 14th. The growing uncertainties about the proposed $10-billion overseas bond program and concerns over higher borrowing from the domestic market (if the offshore plan fails), leads to volatility in Nifty and talks of a fiscal stimulus have provoked hesitations of a bond surplus this fiscal, leading to profit-taking and price corrections. Nifty on Friday, August 16th closed at 11,047.80. From Nifty weekly chart we are expecting that Nifty is taking a firm