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28 Oct 2016 | 4:09 AM
Research Report

Equity Research Report: Market Explorer - October 2015

The key benchmark indices holding firm at the current juncture and forthcoming festive session likely to witness cheer in the month of Oct 2015. The rally on the domestic market was a part of the rally in global stocks triggered by expectations that the US Federal Reserve will delay the interest rate hike. The ongoing trend likely to witness consolidation and forthcoming festive session will bring cheers among participants. Therefore, investors can use the opportunity to accumulate fundamentally strong stocks for long term investment perspective.
06 Oct 2015 | 05:00 PM

  • In line with expectation, Nifty consolidated in the month of September and ended marginally in red. Though the initial days were hard as it slipped further down and formed a new 52 weeks low at 7539.50, but recovery which later followed by consolidation, aided index to stabilize and settle at 7868.50 level.
  • This month, we expect Nifty to experience some rebound after the base formation; however, it would face stiff resistance around 8250 and breakout above the same would trigger fresh buying.
  • We advise traders to maintain positive bias for the October month but do uphold caution in stock selection. We reiterate our preference for fundamentally strong counters from the private banking, capital goods, auto, infra space alongside with IT and pharma as hedge. On the other hand, underperformance may continue from PSU banks & metal.
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