Value Plus

Arihant's Value Plus - May 2018

Market Outlook May: Going ahead, Indian equity markets are expected to face major hurdles and will remain volatile till Lok Sabha elections. Widening fiscal and current account deficits, bank’s NPA issues, strengthening dollar, higher crude oil prices and political uncertainties ahead of elections are key risks for markets. The Karnataka assembly election outcome on May 15 will be seen as a pointer to the general elections. Further, Q4FY18 corporate earnings, macroeconomic data, trends in global markets, US FOMC meeting, BOE monetary policy, FIIs and DIIs trend, bond yield, rupee-dollar movement and crude oil prices are the major factors which will be monitored keenly. We suggest investors to invest in fundamentally strong companies with long term view.

In this issue:

  • Movers & Shakers
  • Market Outlook
  • Nifty Technical Outlook
  • Fundamental Picks
  • Auto Sales
  • Commodity Pick
  • Mutual Fund
  • Key Financial Events

Nifty Technical Outlook May: The current price action on the monthly chart has taken support at the upward sloping trendline shown above in the graph and formed a bull candle. This suggests that monthly bias has turned positive.

In current month Nifty has resistance at 11053 – 11242 – 11462 levels whereas on the downside, 10425 – 10237 – 10016 levels. In coming month if Nifty trades above 10864 then it is likely to test 11053 – 11242 – 11462 levels. However, if Nifty trades below 10614 then it is likely to test 10425 – 10237 – 10016 levels.

Broadly, for current month 10237 remains crucial support as long as Nifty holds the above mentioned level there is high probability that Nifty may test 11053 – 11242 – 11462 in couple of months.

Tags: Auto SalesKey EventsMutual FundMovers & ShakersCommodity OutlookMarket OutlookFundamental StocksNifty Technical OutlookDCB BankManappuram Finance

Arihant's May Investment Newsletter is now available #ValuePlus.
Click here to download full pdf report.

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DISCLAIMER: This document has been prepared by Arihant Capital Markets Limited (hereinafter called as Arihant) and its subsidiaries and associated companies. This document does not constitute an offer or solicitation for the purchase and sale of any financial instrument by Arihant. This document has been prepared and issued on the basis of publicly available information, internally developed data and other sources believed to be reliable. Whilst meticulous care has been taken to ensure that the facts stated are accurate and opinions given are fair and reasonable, neither the analyst nor any employee of our company is in any way is responsible for its contents and nor is its accuracy or completeness guaranteed. This document is prepared for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. All recipients of this material should before dealing and or transacting in any of the products referred to in this material make their own investigation, seek appropriate professional advice. The investments discussed in this material may not be suitable for all investors. The recipient alone shall be fully responsible/are liable for any decision taken on the basis of this material. Arihant Capital Markets Ltd (including its affiliates) or its officers, directors, personnel and employees, including persons involved in the preparation or issuance of this material may; (a) from time to time, have positions in, and buy or sell or (b) be engaged in any other transaction and earn brokerage or other compensation in the financial instruments/products discussed herein or act as advisor or lender/borrower in respect of such securities/financial instruments/products or have other potential conflict of interest with respect to any recommendation and related information and opinions.