Hello reader, hope you’ve had a good weekend. Today, markets are expected to begin on a strong note due to the positive performance of global equities and the recent resolution of the US banking crisis. This, combined with strong GST collections and renewed interest from foreign investors, should instill confidence in local investors after a recent downturn. However, all eyes will be on the RBI’s upcoming monetary policy announcement, especially as rising oil prices have led many investors to anticipate a pause in current tightening measures.
Important points to note:
- Nifty in the range of 17300-17450 for this week’s start. 17500 will act as a major resistance point from here. More upside with confirmation of trend change, would be once Nifty crosses 17700 levels.
- Stronger sectors stay the same – PSE, Auto and FMCG.
- From here Midcaps/Smallcaps have taken a big beating. Many pockets in large cap like banks, PSU & Autos have done well. The trend of large cap outperformance may be nearing an end. Broader market looking much more attractive after the big drubbing of last 18 months.
One more FY starts, let it be your best one yet. Remember to be a good trader and try to not make many mistakes on a very bad day/month and you’re already there. Any lucky person can make money on an easy day/month.
As always, risk management is key, and a proper system in place prevents one from losing out too much, in case of outlier events. Have a good trading day, and may the force be with you!
Disclaimer: this post is for educational purposes only, we are not SEBI registered analysts. Trades mentioned here are not trade recommendations. Equity Investments are subject to 100% market risk, please consult your financial advisor before investing.
Yet another financial year! Nice one that covered all major outlooks