The markets lost 1 pc for the week even though a late week recovery was made on the back of DII buying. The FIIs continued to sell and till they resume their buying no meaningful recovery can be seen.
1. The dates of the Union Budget were announced as 29th Feb and we may see some kind of pre budget rally brewing if the FIIs stop selling.
2. The IPO market is buzzing with the Team Lease IPO and the Quick Heal IPO opening on Monday. These are well run companies.
3. The GST bill is expected to pass in the coming session of Parliament. If the bill goes through then there would be a big rally else the correction continues.
4. There are no immediate triggers for the markets to rally or fall and hence the market is stuck in a range.
5. Technically, the markets are not giving any clear breakout or breakdown sign. Only above 7693, 7825 we can say we are headed to 8200. 7400 is a strong support zone. A break of 7400 can lead to fresh lows.
6. The crude oil prices have stabilized and so has the rupee.
7. February is not known for any violent moves and we may see range bound trading with a slightly positive bias unless there is major bad news globally.
It is time to be patient and accumulate good stocks.
1. The dates of the Union Budget were announced as 29th Feb and we may see some kind of pre budget rally brewing if the FIIs stop selling.
2. The IPO market is buzzing with the Team Lease IPO and the Quick Heal IPO opening on Monday. These are well run companies.
3. The GST bill is expected to pass in the coming session of Parliament. If the bill goes through then there would be a big rally else the correction continues.
4. There are no immediate triggers for the markets to rally or fall and hence the market is stuck in a range.
5. Technically, the markets are not giving any clear breakout or breakdown sign. Only above 7693, 7825 we can say we are headed to 8200. 7400 is a strong support zone. A break of 7400 can lead to fresh lows.
6. The crude oil prices have stabilized and so has the rupee.
7. February is not known for any violent moves and we may see range bound trading with a slightly positive bias unless there is major bad news globally.
It is time to be patient and accumulate good stocks.
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