Oct 22 2014 8:10AM | Wednesday | By Prasanna Bidkar
Diwali is a festival of celebration, lights and opulence. And the way Indian equities are moving currently it vindicates the same. A few days back there was a complete negativity in the markets with the global as well as domestic equity indices witnessing decline. However the things have changed over the last three trading sessions as markets have been consistently moving northwards. We are of the opinion that Diwali is expected to bring cheers to the Indian Investors as the positive trend continues even today. We expect a positive opening for the leading benchmark indices with even the broader market witnessing positive move.
The Indian market ended in green for a third straight session on Tuesday to register its one week high closing. In our last write up we mentioned nifty will face resistance around levels of 7930 and this was in line with our expectation. Now going forward the biggest hurdle for the bulls is to cross level of 7990 and 8035, if these levels are crossed than we can expect a good rally in market in short term. On downside 7920 and 7870 would act as strong support for the bulls.
Oct 21 2014 5:54PM | Tuesday | By Abhijeet Gosavi
Indian markets continued with the positive sentiment in today’s trading session. The major sectors like Banking, Capital Goods and Metals surged well and witnessed up-move of more than 200 points. However Oil & Gas closed in the negative territory, down by 82 points. The Nifty closed up by 48 points at 7927 and Sensex was up by 145 points at 26575 in the closing bell.
Oct 21 2014 7:56AM | Tuesday | By Prasanna Bidkar
Sentiment play an important part in the equity markets and it is a known fact that sentiments change very soon. While in the preceding week the equities over the globe only moving northwards have started the new week on a positive note. Indian equities were not an exception yesterday closed on a very positive note. Going ahead it seems that the BJP Government which has no elections due in next one and half year at state levels would be focusing on reforms front. After the gas pricing, yesterday the Government announced some reforms on the Coal front also. We expect the equity indices to continue its momentum and extend gains.
The Indian market began the truncated week on an upbeat note, on back on strong gains in the U.S and European markets and a firm trend in Asian markets setting up a cracking start. Other significant factors that contributed to the cracking start were the government decision to deregulate diesel prices and the BJP impressive win in the Harayana and Maharashtra assembly polls. Nifty opened gap up and post gap up opening moved in tight range of 30-45 points. Now going forward nifty will face strong resistance around levels of 7930 and 7990.