Value Plus

Arihant's Value Plus - August 2019



The S&P BSE Sensex was down by 5.5% and the CNX Nifty was down by 7.3%. The month was an eventful month and the markets remained highly volatile throughout the month. The key highlight for the month was the much awaited union budget. The budget was not very positive for the Indian equity markets mainly because of the super rich tax imposed on the foreign portfolio investors. The super rich tax was followed by heavy selling by the foreign investors throughout the month.

In this issue:

  • Movers and Shakers
  • Market Outlook
  • Nifty Technical Outlook
  • Stock Pick
  • Auto Sales
  • Mutual Fund
  • Key Events
  • Economic Data Wrap Up

On the monthly chart, we are observing a strong bear candle which suggests that undertone in the market has turned negative.In coming month if Nifty trades and close below 10910 level then it is likely to test 10646 – 10359 – 10026 levels. However, if Nifty trades and close above 11303 levels then it can 11590 – 11877 – 12211 levels.


Since the Monthly trend has turned down rallies are likely to attract selling pressure. Broadly, for current month we are of the opinion that 10640 remains crucial level if breached then selling would drag Nifty to 10359 – 10026 levels. Hence one needs to be cautious and wait for the dust to settle.


Tags: Auto SalesKey EventsMutual FundMovers & ShakersMarket OutlookStock PicksNifty Technical OutlookEconomic Data Wrap Up


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.