MoneyControl Stock Market News
World Stock Market News
- November scare for 2018: Bears controlled D-Street in 7 out of last 10 years
The worst fall was seen in 2008 when the index plunged 12% followed by 2011 when it saw a decline of 7.7%
Macro outlook for India is improving due to fall in oil prices, said Tushar Pradhan, CIO-India of HSBC Global AMC,
The 10-Year bond yields have also softened from the highâs of ~8.20% few months ago to 7.75% giving some relief to the banking/NBFC sector.
Even though market might be giving mixed signals, but experts suggest investors to stay long on the index with a stop below 10,440 levels. With regards to ITC, Sinha said the house liked the company at current valuations as there has been recovery in volumes.
Volatile movements based on current political scenario involving elections, along with any downside on GDP growth are big headwinds for the market, Naveen Kulkarni, Head of Research at Reliance Securities said.
Maximum Call open interest (OI) of 32.38 lakh contracts was seen at the 11,000 strike price. This will act as a crucial resistance level for the November series. Macquarie#39;s Sandeep Bhatia said they expect earnings growth to be 15 percent across broader market and for indices it would be around 18 percent. A further rise in volatility is likely to put pressure on the markets. It needs to move below 17 for the market to move higher, says Ashish Chaturmohta of Sanctum Wealth Management.
We believe that, short term trend in the Nifty is still bullish and it is likely to find support around 10,400 odd levels.Tags : MoneyControl, Money Control, MoneyControl india business news, money control stock markets, moneycontrol market outlook, moneycontrol finance news
