Hi Friends,
Another rude week witnessed in the Indian stock markets thanks to movement of the crude oil.But at the end of the week traders were a worried lot worrying that is it only crude or is there something more then what meets the eyes.
Nifty is witnessing panic is what a day trader will tell you.But the undercurrent of portfolio selling is more visible in front line stocks as compared to the small cap stocks.Indeed to be very truthful small cap stocks under my coverage are substantially higher as compared to a month ago.While nifty has given a negative return in may till date.Midcaps under our coverage have actually given positive returns .
In one of my recent issues I had covered that i dont expect crude to cross 135$ a barrel.Crude is showing resistance at somewhere near those levels.Personally i believe its time to take some profits for short term from oil exploration companies and similar businesses.
Coming back to Nifty i strongly believe that if markets manages to hold 4850 -4871 band we might see a sharp rebound in Nifty.factors to watch out for will be FNO expiry and the movement of crude oil from here on.Also there is a holiday on Monday so it will be a free move by the domestic operators for the INDIAN stock markets on Tuesday.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment