Nifty Outlook:
There
is a lot of strength in the market and that is getting reflected in the
way stock prices have moved across sectors. It is advisable to buy
winning stocks on declines whenever there is a dip because if
fundamentals do not catch up then we could see a minor correction in
markets. Both domestic, as well as global liquidity, has been strong
which kept the rally going for Indian markets despite selloff by foreign
investors in the December quarter. Retail investors poured in more than
Rs 70,000 crore in equity-oriented mutual fund schemes in 2016- 17,
making it the third successive year of net inflows.
Bank Nifty Outlook:
One
of the major factors, which are driving optimism, is the recovery in
earnings growth along with the implementation of government reforms in
Asia’s third largest economy which is growing at 7 percent rate, faster
than most developed and emerging market (EMs) economies. We are
expecting 12-15 percent CAGR in Sensex EPS, which could take the overall
EPS to 1,700 by FY18, 1,950 by FY19 and 2,250 by FY20. At the given
forecasted numbers, Sensex could touch the levels of 34000 in FY18,
39000 in FY19 and 45,000 in FY20 at the trailing P/E of 20x, which is
the moderate valuation for a growing economy like India
Nifty Trends
|
| R1 | 9380 |
| R2 | 9475 |
| S1 | 9270 |
| S2 | 9180 |
|
|
Technical Outlook:
Top Gainers
|
| ONGC | 186.05 |
| BANKBARODA | 187.65 |
| SBIN | 289.40 |
| MARUTI | 6,511.00 |
| HINDALCO | 199.00 |
Top Losers
|
| ITC | 277.80 |
| INFRATEL | 356.75 |
| HDFC | 1,537.00 |
| TECHM | 417.25 |
| AMBUJACEM | 245.00 |
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