Sunday, August 2, 2015

Markets continue in their Range

The markets were flat for the week and they are still not giving any breakout in any direction. Lower crude oil prices continued. Let us see what the month of August brings for the markets.

1. The Crude Oil prices continued to be at year low. This will help the Indian economy.

2. The Monsoon session of the Parliament continues to be a washout. This now seems to have been factored in by the markets.

3. The Greece factor also has gone by.

4. Results continue to be a mixed bag. ICICI Bank results were good on Friday whereas L&T disappointed.

5. The market has no major triggers either to go up or to go down. This has resulted in a sideways trading market.

6. The FIIs continued to be sellers in the week gone by. Unless, they start buying, the markets will not have a very big rally.

7.In the 8500-8600 region, the markets continue to be in no man's land. Buying at these levels can lead to a trap.

The Strategy remains the same. Buy on dips and be cautious at higher levels.

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