Nifty Outlook:
The
S&P BSE Sensex reclaimed mount 30K earlier this week to hit a fresh
record high and if earnings recovery happens better than estimates,
then Sensex could well hit mount 39K by December 2017, Morgan Stanley
said in a report. Earnings revisions will likely turn positive in the
coming six months after six years in negative territory. Valuations are
not yet stretched against history, other markets and bonds. Rising
demand for equities from domestic households and potential M&A
activity could take multiples higher in coming months.
Bank Nifty Outlook:
The
rally in the Indian market is led by strong domestic and global
liquidity. Domestic institutional investors (DII), which include mutual
funds, have poured in more than Rs 1 lakh crore in Indian equity markets
since May 2014 while foreign institutional investors (FIIs) bought just
Rs 30,000 crore worth of equities in the same period, Overall it was
another consolidation day for the market after hitting record highs
during the week on hopes of normal monsoon. Investors remained cautious
ahead of March industrial output data & April retail inflation due
later today, and awaited more corporate earnings.
Nifty Trends
|
| R1 | 9470 |
| R2 | 9535 |
| S1 | 9370 |
| S2 | 9280 |
|
|
Technical Outlook:
Top Gainers
|
| HEROMOTOCO | 3,552.00 |
| INFY | 965.45 |
| KOTAKBANK | 954.00 |
| TECHM | 441.00 |
| IOC | 437.00 |
Top Losers
|
| YESBANK | 1,491.00 |
| ZEEL | 527.10 |
| ASIANPAINT | 1,135.00 |
| AXISBANK | 503.90 |
| INFRATEL | 371.95 |
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