Stock Market Nifty Sensex Dow
Jones View – As On 17 December 2018
We
continue to predict a sideways market with sell on rise and buy on dips as well
as individual stock price movement type trading market. Earlier also we have
said that during the past month’s pull back many stocks which were hammered in
the erstwhile sell off for as much as upto 50%; have made base and are likely
to give 10-20% up move in the sideways, range bound type of scenario with low
volume market participation and mutual fund buying where there is lack of
speculative interest.
These
stocks include stocks like SAIL, BHEL, Wockhardt, Adani Ports, Yes Bank, DHFL, and
others.
One
thing to notice is the sharp fall over last few days in crude oil prices of
almost 30% to 50 USD per barrel from 75, and the easing tension on US-China
trade war front. This may help a year end rally in already battered European,
and Asian markets, while it is possible that USA markets may continue to remain
sideways and non-eventful with bouts of volatility with no significant trendy
movement. We are anyways already seeing a decoupling between the all three
wiz.USA, Europesn, and Asian markets regard with the movements when we saw Asia
markets perform better many days even though there was 500 points or more
decline in USA markets the day ahead. So basically the trades are short term
and a lot of portfolio shuffling is happening across the global investors
groups.
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