Page 43 - Market Outlook
Goldilocks position for Indian equities is getting questioned: Jefferies
Rising crude oil prices, traction in China equities and high inflation concerns are casting a shadow on the road ahead for the Indian equities, believe analysts at Jefferies.
 "Goldilocks position for Indian equities is getting questioned: Jefferies")
Nifty50: Uptrend likely once it breaches 19,700; support seen at 19,300
A level below 19,300 would be considered bearish sign in Nifty for the short term, says Vinay Rajani, senior technical and derivative research analyst at HDFC Securities
 "Nifty50: Uptrend likely once it breaches 19,700; support seen at 19,300")
Nifty FMCG may see pullback; Auto index eyes breakout post range-bound move
According to Ravi Nathani, an independent technical analyst, Nifty FMCG index may witness a rebound after finding support at 51,636 and 50,650 levels
 "Nifty FMCG may see pullback; Auto index eyes breakout post range-bound move")
BofA Securities ups Nifty target to 20,500; sees markets get rerated
The foreign brokerage firm prefers large-caps over their mid-and small-cap peers as the valuations in case of the latter are rich and earnings growth estimates seem stretched.
 "BofA Securities ups Nifty target to 20,500; sees markets get rerated")
Sensex ends 107 pts down post choppy day; PSBs shine, M&M, JSW Steel dip
CLOSING BELL ON AUGUST 08, 2023: The NSE Nifty 50 ended 26 points lower at 19,571. Tech Mahindra, Wipro and Bajaj twins bucked the trend and finished with notable gains on Tuesday.
 "Sensex ends 107 pts down post choppy day; PSBs shine, M&M, JSW Steel dip")
Nifty Financial Services exhibits bullish trend; buy near support levels
According to Ravi Nathani, an independent technical analyst, support levels are projected at approximately 19,525 and 19,425 for Nifty Financial Services index
 "Nifty Financial Services exhibits bullish trend; buy near support levels")
Sensex ends 232 pts up, Nifty50 near 19,600; Pharma, IT stocks upbeat
Closing Bell on August 7: Among sectors, Nifty Healthcare, Nifty Pharma, and Nifty IT indices emerged as the top leaders, gaining up to 2 per cent
 "Sensex ends 232 pts up, Nifty50 near 19,600; Pharma, IT stocks upbeat")
Sell Nifty50 if it breaches below 19,300; Bias for Bank Nifty bearish
According to Ravi Nathani, an independent technical analyst, a downward correction is likely for Nifty50 if it breaches below 19,300-mark
 "Sell Nifty50 if it breaches below 19,300; Bias for Bank Nifty bearish")
New era of Indian equity outperformance is dawning: Morgan Stanley
In India, Morgan Stanley believes, the situation is in stark contrast to that in China. India, it said, is arguably at the start of a long wave boom
 "New era of Indian equity outperformance is dawning: Morgan Stanley")
What does Fitch downgrade of US credit rating to AA+ mean for the markets?
The development caused a flutter across equity markets, with most leading frontline global equity indices trading weak on Wednesday.
 "What does Fitch downgrade of US credit rating to AA+ mean for the markets?")
Broking industry revenues could be healthy in FY24, says Dhiraj Relli
As trading volumes are likely to be firm, broking industry revenues could be healthy in fiscal 2023-24 (FY24), even as the yields may not have much further to fall
 "Broking industry revenues could be healthy in FY24, says Dhiraj Relli")
Mid, smallcaps reach for the sky despite analysts sounding caution
In July, the S&P BSE Smallcap index surged 7.4 per cent as compared to 5.7 per cent rally in the Midcap index, and a modest 2.8 per cent gain in the Sensex.
 "Mid, smallcaps reach for the sky despite analysts sounding caution")
Nifty Metal, Energy: Here's how to plan your trade
According to Ravi Nathani, an independent technical analyst, the Nifty Energy index is signalling potential correction, while the Metal index remains bullish.
 "Nifty Metal, Energy: Here's how to plan your trade")
Nifty Pharma nears major hurdle at 14,536; Realty remains range-bound
According to Ravi Nathani, an independent technical analyst, given the overbought conditions on Nifty Pharma traders are advised to book profits and adopt a cash position for near- and short-term.
 "Nifty Pharma nears major hurdle at 14,536; Realty remains range-bound")
Tata Motors, L&T: Short-term trading strategies post Q1 results
Tata Motors is likely to trade with a positive bias, with an upside target of around Rs 660; while Larsen & Toubro may witness some profit-taking in the near-term.
 "Tata Motors, L&T: Short-term trading strategies post Q1 results")
Buy Bank of India, Bank of Maharashtra: Vinay Rajani of HDFC Securities
On the broader market outlook, Vinay Rajani the technical & derivative analyst says that the Nifty could swing in the 19,783 - 19,567 range in the near term.
Nifty FMCG looks weak; Metal index likely to face resistance above 6,600
According to Ravi Nathani, an independent technical analyst, the Nifty FMCG index has near support at 51,750, below which the index can slide to 50,990.
 "Nifty FMCG looks weak; Metal index likely to face resistance above 6,600")
Most investors expect a market correction: Naveen Kulkarni, Axis Securities
Market's focus has shifted to corporate earnings' growth, backed by comfort in valuations, says Naveen Kulkarni, chief investment officer at Axis Securities.
 "Most investors expect a market correction: Naveen Kulkarni, Axis Securities")
Hotel stocks have more room for an upside; buy selectively: Analysts
The move to demerge the hotel business into a separate entity by ITC has brought back focus on hotel stocks, which have already seen a good run thus far in FY24.
 "Hotel stocks have more room for an upside; buy selectively: Analysts")
Nifty, Bank Nifty likely to consolidate in the near-term
According to Ravi Nathani, an independent technical analyst, all the Nifty may seek support in the range of 19,550 - 19,300 levels.
 "Nifty, Bank Nifty likely to consolidate in the near-term")