Market Outlook October: Going ahead, Indian equity markets will remain volatile this month due to ongoing geopolitical tensions between the US and North Korea. Investors will closely watch developments in North Korea. The recent declines in the stock market, which were triggered by geopolitical tensions, aggravated on worries about a further delay in corporate earnings revival. Apart from this, RBI monetary policy, Q2FY18 corporate earnings, US FOMC meeting minutes, ECB monetary policy, BOJ monetary Policy, FIIs trend, currency movement and crude oil price movement will be the major factors to watch out for. Investors should invest in fundamentally sound companies with long term horizon.
In this issue:
- Movers & Shakers
- Market Outlook
- Nifty Technical Outlook
- Fundamental Stock
- Auto Sales
- Commodity Outlook
- Mutual Fund
- Key Financial Events – Oct
Nifty Technical Outlook October: On the monthly chart, we are observing two consecutive narrow body formations which resemble a Spinning top candlestick pattern. The said candlestick pattern suggests that the prior up trend is losing breath. In the coming month if Nifty trades and closes above 9884 level then it is likely to test 10027 – 10171 – 10338 levels. However, if Nifty trades and closes below 9692 level then it can test 9549 – 9406 – 9239 levels.
Broadly, we are of the opinion that for current month 9540 level remains make or break level. Hence, one can hold their long positions as long as Nifty holds the mentioned level.
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