Market Ahead Podcast, Oct 18: Factors that could guide markets this week
It has been a stupendous rally for the Indian equity markets thus far in 2021. The surge has made analysts a bit cautious now
BS Web Team New Delhi
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Photo: Bloomberg
It has been a stupendous rally for the Indian equity markets thus far in 2021. The S&P BSE Sensex hit the 61,000-level for the first time on Friday, while the Nifty50 breached the 18,000-mark last week.
The surge has made analysts a bit cautious now. Jitendra Gohil, Head of India Equity Research, Credit Suisse Wealth Management advises that investors remain selective and buy stocks of fundamentally sound companies rather than chase momentum.
Ambareesh Baliga, an independent market analyst also shares a similar view. Listen in
In the shorter-term, however, markets will be guided by a slew of domestic and global cues. While commodity prices, especially oil & coal will be key monitorables, corporate earnings back home are likely to dictate the broader market trend in the absence of any major economic data announcements this week.
As per the daily charts, the Nifty is likely to trade with a bullish bias as long it sustains above 18,230. The Weekly F&O data indicates a range of 18,050 to 18,700 for the Nifty. As regards the BSE Sensex, charts indicate a broad trading range of 60,350 to 62,250 for the week.
Topics :Market Ahead
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First Published: Oct 18 2021 | 7:45 AM IST
