Markets were up about 1.2% for the week. Sentiment has turned cautious if not negative. As expected, Nifty did show a good dead cat bounce for the week. However it failed to close above 9900 firmly. Cut short by a holiday and a long holiday weekend, markets managed to stay in the green for the week. The close could have been better but for the Infy saga. The fundamental news flow was the reason markets took a tanking fake cartier bracelets
on the last day. Street is nostalgic again with the Infosys board room war drama. October had seen Tata Group wage in a battle that dragged for months. This time it is the IT giant. Buyback of 13k crore was approved and Mcap of 22k+ was eroded.
Technically speaking, soured sentiment will have a fizzle out effect. Sell on rallies is the rumor. 9900 is pivotal resistance and 10k is a distant dream. Those trapped will wait and new entrants cartier nail bracelet replica
are likely to come in at a lower range. The recent sub 9700 lows are bound to be tested again. Sentiment is not bullish and bottom seems far away. 9500 has seen aggressive writing and should act as a base. It is crucial that Nifty defend its 50-DMA around 9800 for short-term balance.
Fundamentally speaking, after the recent fall, we are still expensive. Results were mix pack and not that great. Fund flows continue from the domestic investors. DII keeps pumping in the SIP and retail money. FII is a strong seller. Barring one odd bulk deals, they sold every single day to the tune of 1000cr! Time cartier love bangle will tell who will have the last laugh but for now liquidity is gushing and supporting the market.
Globally, uncertainty continues to grip markets. White House drama held the US markets in the negative zone with Dow below 22k. The tensions of Korea are still clear and present. Markets there too have a liquidity support. Jobless claims in US came in at the lowest in a long time.
Sectors to watch for the next week – Pharma. Continue to bottom pick individual http://www.cartierbracelets.co/ stocks, Nifty Pharma should find its bottom soon. Better be a buyer of the last 10% fall than the last 10% rise. Metals should continue to do well. World over metal prices are rising. Nifty Metal should hit a new high given the momentum. All other sectors are wait and watch. Sell on rise is the theme.