The markets continued to consolidate up 1.6 pc. The markets moved up 2.5 pc for the month so far and the movement has been so quiet that no one has noticed. Let us see if anything has changed this week.
1. The FIIs continued to be net buyers for the entire week. This indicates that the flow of foreign money continues.
2. The markets closed at new monthly highs and much over the previous high of 7840 which is a very bullish sign.
3. The monsoons have stabilized and spread across the country. The poor monsoons, even though the deficit is still 19 pc seems to be receding in the past.
4. The markets have moved up but the individual stocks are still lagging behind. This could be a buying opportunity for selective stocks.
5. There seem to be no clouds on the horizons but a potential trigger could be the Assembly elections results in the 4 states Maharashtra, Jharkhand, J&K and Haryana. The results could be around the last week of November and that is the time when the markets take a decisive turn up or down.
So, now is the time to enjoy the festive seasons, buy good quality stocks on decline. 6400 is the long term support and 7450 is the immediate support.
1. The FIIs continued to be net buyers for the entire week. This indicates that the flow of foreign money continues.
2. The markets closed at new monthly highs and much over the previous high of 7840 which is a very bullish sign.
3. The monsoons have stabilized and spread across the country. The poor monsoons, even though the deficit is still 19 pc seems to be receding in the past.
4. The markets have moved up but the individual stocks are still lagging behind. This could be a buying opportunity for selective stocks.
5. There seem to be no clouds on the horizons but a potential trigger could be the Assembly elections results in the 4 states Maharashtra, Jharkhand, J&K and Haryana. The results could be around the last week of November and that is the time when the markets take a decisive turn up or down.
So, now is the time to enjoy the festive seasons, buy good quality stocks on decline. 6400 is the long term support and 7450 is the immediate support.
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