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February 24, 2014

Is Nifty heading for a move beyond the trading range.

Going against consensus. 


 Here is a synopsis of reaction of market participants on Nifty- Range bound is i guess the most used for 2014 in Indian context ahead of elections. 


Sleepless said...

I agree with your views. My personal opinion is that nifty will rally prior to election in anticipation of BJP-NDA led government. We may also have a new high closing around April end.Post April market will go into consolidation mode till election results are announced. We should see 6400-6500 prior to election. The downside is limited to 5960/5880.
Given the FII flows towards end of FEB it seems lower level buying has taken place. IT, Capital and selective pharma and selective bank seems to be good bet.

Post election market will react to the numbers. If BJP ( NDA ) get clear majority then we may have a repeat of May 2009 or a complete reversal of it. In clear majority scenario BJP must win around 190-200 seats. In case of fractured mandate with hung parliament market will crash. In a scenario UPA returning to power with thin majority then also market will crash.

montu said...

Nifty breakout on upside looks difficult as lot of negative headwinds. So if range breaks it can be on downside. Further global mlts look ripe for correction

Anonymous said...

Seems U r right. This expiry nifty will go down in preparation to go new high.


aishwarya said...

how almost all the brokerages talk in the same tone i wonder like wise all the top notch economist including dr.rangarajan who is advisor to p.m on economic affairs say now that economy will be good from next year which may coinside with the arrival of a new P.M i donot understand

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