NIFTY past 9000 to 9100 after BJP win in up lifts NIFTY – Mr.Muthuraj Prabhu ( Senior Vice Precident – Aliceblue )
Aliceblue Market commentator Muthuraj Prabhu say’s On the off chance that the BJP were to win or hint at making it past the survey day after tomorrow, I believe that could be an occasion which takes the market past 9000 or even 9100.
Swinging in the vicinity of 8,850 and 9,000, the Nifty predict appears to have turned out to be uncertain in attempting to set aside a few minutes highs. This is despite a recent meet seen in some heavyweight stocks: Reliance Industries , Bharti Airtel , HDFC Bank have all risen about 10-15 percent over the past few days.
Consulting Editor and veteran Aliceblue Market Researcher – Muthuraj Prabhu Says :
- This shows that the stock market needs another trigger – and not just large leadership from large cap stocks to break this resistance.
- He said participation from domestic investors had been waning off recently and they probably want the UP election out of the picture.
- “If the BJP were to win or show signs of making it past the count day after tomorrow, I think that could be an event which takes the market beyond 9,000 or even 9,100,”.
- “On the other hand if that event does not deliver for the market, after this phase of strengthening, the market could easily breakdown in the near term and dart towards 8,600-8,500 kind of levels,”.
- Apart from the election, the US Federal Reserve meet would be a crucial event in the coming days, he said.
- So I think the following seven days would be extremely essential since you have two imperative occasions, neighborhood and worldwide in the Fed meeting and the total of these two occasions will figure out if the market makes another high this month or it plunges towards 8,500-8,600 preceding get-together vitality for the following up-move.
The market does not seem to be mess up by the possibility of a rate hike as it has been discussed so many weeks in advance. “The real surprise would be if they don’t hike.”
How does our Indian market perform in such a global market?
- We are best in class as we have the tailwinds from global market and discontinuous and the Chinese forecast of 6.5 percent is a minor wrinkle since despite everything they don’t appear to be awfully certain and that may have a few complication for the rally in products that we have seen and item have been one of the stars.
- Notwithstanding, if that is the situation and after next quarter of Indian development likewise begins to return to the pre-October sort of levels where we were all getting more sure about the profit recuperation, the case for the market pounding higher from here absolutely exists.
- There are a couple occasion risk down the way and we have our own GST to likewise weighed over throughout the year yet in the event that worldwide economies do well in 2017 and worldwide markets keep on doing great, I battle to feel that India will fail to meet expectations in that situation since we have failed to meet expectations a considerable measure of developing markets in the course of the most recent 12 months or something like that however that perhaps a relic of past times once we begin getting into a tad bit of a higher rigging ourselves with income.
Since it appears like the demonetization stun has retreated particularly in some key stashes like traveler vehicles,how did you look at that?
- The business vehicles were alright, Maruti Suzuki may have missed the mark regarding desires from most investigators, bikes were somewhat dismal, expectedly so perhaps, maybe a couple, possibly Mahindra and Mahindra (M&M) was not terrible, but rather Eicher was not uncommon. Thus, now the market has returned to 9,000, the market is no longer at 7,900, auto stocks have additionally come up a great deal, in this way, at this moment we need to take a gander at these numbers with an alternate focal point.
- We are not in that frenzy mode post demonetization where stock costs had adjusted 10-20 percent. Presently we are practically shutting on new highs.
How does the retail investor approach oil and gas space?
- we have not had any official remark the extent that I have listened, things being what they are, is Oil and Natural Gas Corporation (ONGC) in addition to HPCL going to happen?
I think the administration presumably is in an ideal situation letting these oil organizations be and do what it attempting to do with Dredging Corporation for instance early today or what it did with BEML a while back. There is such a great amount to do with open area units, why would you like to assemble two organizations. I don’t think HPCL administration will especially value being lumped with ONGC.
- IOC has most likely the best of the parcel now as far as valuations however that has not rectified that much, it has adjusted just a smidgen. Be that as it may, as retail speculator, I would not take a gander at upstream at this point. I would likely take a gander at the downstream stocks other than HPCL till we get greater lucidity on the news since they have come to genuinely appealing levels at the end of the day.