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 :
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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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