17 Jul 2018 | 1:28 PM
Research Report

Equity Research Report: Market Explorer - September 2015

The global factors are affecting more at this juncture on domestic bourses. The performance of monsoon rains, flows from foreign portfolio investors (FPIs) and macro-economic data will dictate the trend going ahead. Also in next policy meet by RBI which will be announced on September 29, 2015 market is expecting a rate cut which may boost the sentiments of domestic economy. On global front, US Fed’s next policy meet is due on 16-17 September and any outcome of interest rate hike will raise the concerns for markets.
03 Sep 2015 | 04:40 PM

  • After three months of consolidation, Nifty witnessed breakdown in the passing month and lost over five percent. It not only breached the key levels but also   settled below the psychological mark of 8000.
  • Technically, it witnessed a breakdown from descending triangle pattern on the daily chart around 8300 and tanked almost vertically to 7667.25 level in no time.
  • Post this sell-off, we believe consolidation is likely in the index with major support at 7600 while 8000-8200 zone would act as hurdle. Hence, participants should uphold buy on dips approach in fundamentally strong counters from the private banking, capital goods, auto, infra space alongside with IT and pharma as hedge.