22 Sep 2018 | 7:48 AM
Research Report

Equity Research Report: Market Explorer - March 2016

In last month of FY16, Indian market is likely to remain volatile due to weak global sentiments and lack of buying support from FIIs. However, condition likely to stabilize at these levels and buying support may witness as probability of rate cut by RBI is high going ahead. Reserve Bank of India undertakes next monetary policy review on 5th April 2016. Meanwhile, the outcome of a monthly survey showed that manufacturing business conditions in India continued to improve with new orders, exports, output and purchasing activity all rising in February 2016.
08 Mar 2016 | 06:00 PM

  • Pressurized by weak global cues and disappointed earning season, Nifty edged further southward in the passing month and lost over 7%. The bias was negative from the beginning and it upheld that till the end as it slipped from roughly 7600 and made a low of 6825.80 on last trading session of the month.
  • We have seen strong rebound from the monthly support zone of 6800 of late and expect rebound to continue ahead as well. The next major hurdle is at 7700 and breakout above the same could take to 8000 as well. In case of profit taking, 7100 & 6800 would act as cushion.
  • Considering the recent market scenario, we suggest traders to focus on stock specific trading approach and uphold positive bias. Having said that, volatility may continue to cause trouble so maintain extra caution while trading in derivative segment. On cash front too participation would limit only to the quality stocks.