Bombay Stock Exchange’s barometer Sensex made its way past the mystical 17,000-mark for the first time in the last 16 months buoyed by Al-round buying momentum. However, market watchers are wary whether the current upmove can be sustained and forecast a correction in the near term.
“The overall trend looks bullish given that the Sensex has crossed the 17000 level. On the Nifty, after a decisive breakout above 5000, the next target is close to 5150 levels. From thereon, +/- 50 points move is likely where profit booking may set in. Today’s move was not backed by heavy volumes, which suggests caution and short term players should take this under consideration. Continuous FII inflow was witnessed in the month of September to the tune of around Rs 17500 crore which set the market momentum going. Going ahead, FII inflows need to be watched since the market mood will remain upbeat despite aggressive valuations if the inflows continue,” said DD Sharma, VP Research – Retail, Anand Rathi Financial Services.
“The market is due for a correction as the euphoria has sustained too long. The market may scale higher peaks but only after a period of consolidation or correction. We advise investors to adopt a buy-on-declines strategy,” said Manish Sonthalia, Portfolio Manager Motilal Oswal Financial Services.
~ET
At SAMPARK, we provide financial advice and distribute various investment products with the most efficient & widest range, customized specifically to your NEEDS..@ Whether you are keen on small investments or playing it big, We provide financial advice and distribute various investment/financial products with the most efficient & widest range, customized specifically to your NEEDs.
Subscribe to:
Post Comments (Atom)
Popular Posts
-
SAMPARK 75(193), G. T. ROAD RAMBANDHU TAKAW OPP-CHOWALAL SCHOOL ASANSOL-713303, (W.B),INDIA JALAN BHAWAN 52 N.S.ROAD...
-
A WINNER can show you d way to success.. But.. A LOOSER can make you.. Aware of all ways leading to failure..@
-
8 MILLIONS CHILDREN ARE NOT IN SCHOOL : THE POWER OF YOUR WORDS CAN HELP CHANGE THEIR LIVES .. JOIN THE MOVEMENT NOW
-
25. Kyoto University , Japan Kyoto University rated as 25th best university in World University Rankings 2009. Founded in 1897, Kyoto Univ...
-
Gold has always fascinated us Indians but do you know how prices of gold have varied in India. I happen to visit RBI website which pub...
-
Over the past month, several mutual fund investors would have received a mail from their fund house to update their Know-Your-Customer (K...
-
MY INTERACTION with one of my client on 12.12.2018 Sensex up today by 600 points* :scream: Manish : I am wondering Dr. AAA, why t...
-
One of my client get more than 6L as a benefit beside his SIP amount become double in the time span of about 8years. This event force me...
-
Dear All Today is the first day of the new Financial year and we all are free now as lockdown prevails due to Corona crisis, so let's...
No comments:
Post a Comment