Predictions for stock market tomorrow

Predictions for stock market tomorrow

Author: HomelessIn Date of post: 22.06.2017

Prakash Gaba of prakashgaba. Equitas Holdings, Grasim Industries, Tech Mahindra and Ujjivan Financial Services are the stocks in which he is bullish on. The market is an uptrend but a weak one. Farm loan waivers not only spoil the credit culture but the states going for this scheme may not be financially able to support it, says Mukul Kochhar of Investec Capital Services. The level of 9,, will be the immediate resistance above which uptrend would confirm and the market will remain upside for over short to medium term.

It would be safer to play stocks like HDFC Bank, ICICI Bank, which may not correct in case there is a fall, Abhimanyu Sofat of IIFL. On the basis of SMA, Nifty is trading above its days EMA.

Further, a strong support level is seen at 9, while the resistance will be tested at 9, level. The crucial support for the Nifty is at and the resistance is at , says Technical Analyst, Prakash Gaba. And for the fourth coming week, if Nifty50 manages to close above 9, levels in immediate trading session then short term outlook shall turn positive and Bulls can once again make an attempt towards 9, levels. The earnings are unlikely to improve by next quarter but people are expecting earnings to turn up in the second half of this year.

And, that is what market is hoping for. Globally, the biggest risk is slowing China, and if they have stated that they are buying US treasuries, it means they are likely to depreciate their currency said Andrew Holland, CEO, Avendus Capital Alternate Strategies. One should expect volatility and resistance on the upside, said R Sreesankar of Prabhudas Lilladher.

As much as 60 percent of the earnings are either got to do with global commodity stocks or global commodity companies.

predictions for stock market tomorrow

Mitessh Thakkar of mitesshthakkar. PSU banks have seen huge rerating, which tells you that valuations have factored in some amount of NPA resolution, said V Srivatsa of UTI MF. Gautam Shah of JM Financial is still optimistic about the market in this consolidation phase.

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He is very optimistic on auto sector, while wishes to stay away from IT and pharma. The near-term risks to the economic outlook appear roughly balanced, but the committee is monitoring inflation developments closely, the FOMC stated, Amar Ambani said. Any dip towards 9, levels will be good buying opportunity while breaking above 9, levels will lead in strong short covering. Nilesh Shah of Envision Capital believes that it will be best to avoid corporate lenders right now as there is no easy way out about the resolution.

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