Market Outlook September: Going ahead, Indian equity markets are expected to remain volatile this month due to geopolitical tensions between the US and North Korea. The tug of war between the bulls and the bears could continue this month as well. Apart from geopolitical tensions, on the economic data front, US FOMC meeting, Europe monetary policy, Bank of Japan monetary policy, macroeconomic data, progress of monsoon rains, trend in global markets, FPI’s & DII’s inflows, rupee movement and crude oil price movement will be watched for further direction. Investors should adopt buy-on-dips strategy to accumulate stocks at attractive valuations.
In this issue:
- Movers & Shakers
- Market Outlook
- Nifty Technical Outlook
- Technical Picks
- Auto Sales
- Commodity Outlook
- Mutual Fund
- Key Financial Events – Sep
Nifty Technical Outlook September: On the monthly chart, we are observing a bear candle with narrow body formation which indicates a pause of current up move. In the coming month if Nifty trades and closes above 10006 levels then it is likely to test 10138 – 10270 – 10424 levels. However, if Nifty trades and closes below 9829 level then it can test 9697 – 9565 – 9411 levels.
Broadly, we are of the opinion that for current month as long as Nifty holds 9680 on daily closing basis there is high probability that Nifty may test the 10300 - 10500 in couple of months.
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