Market consensus has pegged the Gross Domestic Product (GDP) at below 5% mark for the second quarter ended September 30, 2013. According to a Reuters poll of 40 economists, the economy grew 4.6% in the July-September period this financial year. This is the fourth consecutive quarter of below 5% growth dashing hopes of a broad-based recovery. But the consensus has put the GDP for this particular quarter at 4.8% which is higher than of four-year low of 4.4%, touched in the previous quarter.
Actual numbers of Q2 GDP will be released in the evening post market hours today.
Devangshu Datta, Technical analyst and market expert while speaking to Manu Kaushik picks sectors/stocks to turn bullish/bearish on post GDP numbers for the September quarter are released.
SmartInvestor : Markets seem exuberant after a healthy roll-over. Is there muscle to this rally or this is flab? What are the key levels to watch out?
Devangshu Datta : Nifty still hasn't penetrated persistent resistance in the 6200-6225 zone. Today’s rally is speculative in the hopes of improved GDP data. Also, traders are taking fresh positions in the new settlement. If it closes above 6225, we could see a run that tests 6300-pls. On the downside, if the data disappoints, the Nifty has support at 6150, 6125, 6100, etc. - with congestion at every 25 points down.
SmartInvestor : NHPC buyback began today. Should investors tender? How will you suggest that the stock be approached by investors
Devangshu Datta : Neither the past performance (down roughly 50 per cent since IPO) nor the promoter (GoI) inspire much confidence. Keep a stop loss at 17 if you decide to dabble in the stock. There could be an upside till 21-22 if people get enthusiastic so the risk-reward equation is positive. Don't buy if the price exceeds buyback offer.
SmartInvestor : What sectors/stocks are you placing your bets on, in the wake of impending GDP numbers?
Actual numbers of Q2 GDP will be released in the evening post market hours today.
Devangshu Datta, Technical analyst and market expert while speaking to Manu Kaushik picks sectors/stocks to turn bullish/bearish on post GDP numbers for the September quarter are released.
SmartInvestor : Markets seem exuberant after a healthy roll-over. Is there muscle to this rally or this is flab? What are the key levels to watch out?
Devangshu Datta : Nifty still hasn't penetrated persistent resistance in the 6200-6225 zone. Today’s rally is speculative in the hopes of improved GDP data. Also, traders are taking fresh positions in the new settlement. If it closes above 6225, we could see a run that tests 6300-pls. On the downside, if the data disappoints, the Nifty has support at 6150, 6125, 6100, etc. - with congestion at every 25 points down.
SmartInvestor : NHPC buyback began today. Should investors tender? How will you suggest that the stock be approached by investors
Devangshu Datta : Neither the past performance (down roughly 50 per cent since IPO) nor the promoter (GoI) inspire much confidence. Keep a stop loss at 17 if you decide to dabble in the stock. There could be an upside till 21-22 if people get enthusiastic so the risk-reward equation is positive. Don't buy if the price exceeds buyback offer.
SmartInvestor : What sectors/stocks are you placing your bets on, in the wake of impending GDP numbers?
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