Value Plus

Arihant's Value Plus - October 2018



Market Outlook October: Going ahead, Indian equity markets are expected to remain volatile this month. Hopefully this month will be rosier as all the weak hands are out and the worst has already been priced. Things might only get better going ahead given the Q2FY19 results will start pouring in. The outcome of the RBI monetary policy meeting and macroeconomic data will dictate trend on the bourses. Along with investment by foreign portfolio investors (FPIs), domestic institutional investors (DIIs), the movement of rupee against the dollar and crude oil price movement. On the global front, US FOMC Meeting Minutes, OPEC-JMMC Meetings, US Manufacturing PMI and US Goods Trade Balance are the major factors which will be tracked by investors.

In this issue:

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

Nifty Technical Outlook October: The current price action on the monthly chart has formed a “Bearish Engulfing”. The said pattern will get activated if 10850 level is breached on monthly closing basis.

In coming month if Nifty trades and close above 11101 level then it is likely to test 11364 – 11627 – 11934 levels. However, if Nifty trades and close below 10759 level then it can 10497 – 10234 – 9927 levels. 

Broadly, looking at the bearish engulfing pattern we are of the opinion that one needs to adopt cautious approach at current level.


Tags: Auto SalesKey EventsMutual FundMovers & ShakersMarket OutlookFundamental StocksNifty Technical OutlookCommodity Pick


Arihant's October 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.