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26 Oct 2016 | 5:37 PM
Research Report

Equity Research Report: Market Explorer - August 2015

The volatility is likely to continue in the near future as the ongoing trend will be dictated by macroeconomic data, the movement of rupee against the dollar and crude oil price movement. The progress of monsoon rains will also dictate the trend on the bourses in near term. On the political front, developments during the ongoing monsoon session of Parliament will be closely watched. The Union Cabinet on 29 July 2015, reportedly approved amendments to the Goods and Services Tax (GST) bill to compensate states for revenue loss for five years on introduction of the uniform nationwide indirect tax regime, as has been suggested by Rajya Sabha Select Committee.
06 Aug 2015 | 04:30 PM

For third successive month, Nifty ended marginally in green after trading volatile in a broader range of roughly 450 points and managed to settle above the psychological mark of 8400.

Amid volatility, stock specific move kept the participants busy and we saw move in both directions. However, majority of quality counters upheld sideways to positive bias for most part of the month.

We believe prevailing consolidation in index will continue in August month as well. The upper band is intact around 8700 so participants may book partial profit around that level while immediate support exist at 8400. Meanwhile, maintain stock specific trading approach and avoid over trading.

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