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 Online Finserv LLP, 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
-
बहुत समय पहले की बात है, सुदूर दक्षिण में किसी प्रतापी राजा का राज्य था . राजा के तीन पुत्र थे, एक दिन राजा के मन में आया कि पुत्रों को को क...
-
What is financial planning? Financial planning is the process of meeting your life goals through the proper management of your finances. F...
-
LIFE IS SO UNPREDICTABLE: One moment U think all ur dreams are coming true & The vry next second U find that U were actually d...
-
Systematic is the word that describes you. Organised, well-managed and planned in all your activities. Whether it is earning, saving or s...
-
*Macroeconomics* Macroeconomics is the branch of economics that studies the behavior and performance of an economy as a whole. It focuses ...
-
Improving your fitness level, getting that dream job or buying your own house, everybody has many plans for the new-year 2014. But one ...
-
A young man in his mid-twenties knocks on the door of the noted Guru. He said: “I’ve come to you because I wish to study Vedas.” “Do you kn...
-
In many households across India, when a child is born, the first financial investment in his name is a PPF account . Such is the draw of th...
-
Successful Team is a group of people Who may not be Equal in Qualification, Experience or Talent But is equal in Commitment to ac...
No comments:
Post a Comment