Nifty Outlook:
Benchmark
indices are already trading near record highs but the further rally
will be dependent on a recovery in earnings which looks unlikely in the
near term. The S&P BSE Sensex is likely to hover around 29000 by
December-end. Consensus earnings expectations for FY18 are on the higher
side and to that extent, our senses is that until we see earnings
expansion, it is difficult for the market to re-rate.
Bank Nifty Outlook:
The
S&P BSE Midcap index, which recorded yet another record high of
14,433.30 gave 31 percent positive returns in the FY17, as against
nearly 16 percent given by the S&P BSE Sensex and around 19 percent
by Nifty. Midcaps have been consistently been able to outperform
benchmark indices not just in last 12 month, but in the last five years.
They have been consistent in multiplying investors? wealth over a
period of time and are now trading in a bubble phase, says a report. The
valuation of India markets look reasonable on a top-down basis but the
valuations of individual stocks are super-expensive or fairly valued in
most cases, Kotak Institutional Equities said in a report.
Nifty Trends
|
| R1 | 9300 |
| R2 | 9370 |
| S1 | 9180 |
| S2 | 9100 |
|
|
Technical Outlook:
Top Gainers
|
| ITC | 281.85 |
| ICICIBANK | 283.50 |
| AMBUJACEM | 250.00 |
| POWERGRID | 199.20 |
| BANKBARODA | 174.50 |
Top Losers
|
| ADANIPORTS | 333.20 |
| ZEEL | 539.05 |
| TATAPOWER | 85.50 |
| CIPLA | 580.00 |
| TATASTEEL | 487.90 |
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