morning thoughts...
The markets remained subdued and found buying at lower levels , the same trend is likely to continue in the coming sessions with a buy on dips.
Technically the markets are likely to trade between 7700 - 7900 levels on the nifty front with strong supports at 7700 levels , whereas bank nifty is likely to touch 17000 levels with supports around 16500 levels.
In its mid-year review of the Indian economy yesterday, the finance ministry has lowered its projection of the country's growth in the current fiscal year by an entire percentage point. It is now expected that the economy will grow by 7% to 7.5% from the 8.1% to 8.5% expected earlier.And with that, the realisation that the economy is not going to recover as soon as everyone was expecting is slowly but surely permeating within the system. According to managements of numerous companies, one central theme that seems to be becoming clear is that low capacity utilisation across industry and the resultant lack of private sector investment is one big sore point pulling the economy down. Rapidly slowing exports are emerging as another pain point.Nevertheless, as today's chart of the day makes amply clear, for all the challenges we face as an economy, India is still a bright spot of growth in the globe. Even amongst emerging economies like the BRICS nations, India comes out on top as far as our pace of growth is concerned.Coming back to revised projections of India's GDP growth, the government also feels that it may not be able to meet the fiscal deficit target of 3.5% in FY17 given the growing pressure on its finances. As per the government, higher outflows due to the implementation of the Seventh Pay Commission, and higher public spending to boost growth are likely to stretch its finances particularly as the subsidy gains from low crude prices are likely to diminish in the future. Even the declining Global markets witnessed considerable volatility in the week gone by.
Coming to the commodity markets bullions , energy and base metals are expected to see a sell on every rise as the trend continues to be weak.
Monday wealth gains
Buy nifty and bank nifty on dips
Buy tata steel , sbi , icici bank
Sell sparc , titan
Buy icici 250 ca , sun pharma 700 pa
The markets remained subdued and found buying at lower levels , the same trend is likely to continue in the coming sessions with a buy on dips.
Technically the markets are likely to trade between 7700 - 7900 levels on the nifty front with strong supports at 7700 levels , whereas bank nifty is likely to touch 17000 levels with supports around 16500 levels.
In its mid-year review of the Indian economy yesterday, the finance ministry has lowered its projection of the country's growth in the current fiscal year by an entire percentage point. It is now expected that the economy will grow by 7% to 7.5% from the 8.1% to 8.5% expected earlier.And with that, the realisation that the economy is not going to recover as soon as everyone was expecting is slowly but surely permeating within the system. According to managements of numerous companies, one central theme that seems to be becoming clear is that low capacity utilisation across industry and the resultant lack of private sector investment is one big sore point pulling the economy down. Rapidly slowing exports are emerging as another pain point.Nevertheless, as today's chart of the day makes amply clear, for all the challenges we face as an economy, India is still a bright spot of growth in the globe. Even amongst emerging economies like the BRICS nations, India comes out on top as far as our pace of growth is concerned.Coming back to revised projections of India's GDP growth, the government also feels that it may not be able to meet the fiscal deficit target of 3.5% in FY17 given the growing pressure on its finances. As per the government, higher outflows due to the implementation of the Seventh Pay Commission, and higher public spending to boost growth are likely to stretch its finances particularly as the subsidy gains from low crude prices are likely to diminish in the future. Even the declining Global markets witnessed considerable volatility in the week gone by.
Coming to the commodity markets bullions , energy and base metals are expected to see a sell on every rise as the trend continues to be weak.
Monday wealth gains
Buy nifty and bank nifty on dips
Buy tata steel , sbi , icici bank
Sell sparc , titan
Buy icici 250 ca , sun pharma 700 pa
Sell gold , silver , crude , copper
