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NIFTY – 2018 medium term view

By Rohit / 6 months ago

NIFTY – 6th January 2018

It depends on the way you look at it, that either the new year has started or the last quarter of the current financial year 2017-18 is now underway.

With the market still being near the all-time high, a lot of conflicting viewpoints are there about the expected move of the market in next few weeks.

I was quite busy in last 3 months and hence was not able to post regularly. Now that I am free you will see quite some regular posts in coming days.

Moreover, with current tax planning requirements, you will have tax and investment planning related posts too in coming weeks.

Nifty View

NIFTY jan 2018

My view of nifty is now more of consolidation.  With such strong moves recently, NIFTY is bound to show some surprises in coming days.

Now that GST is still getting ironed over as well as budget fever is going to be there soon enough. There are many small signs which point to a healthy consolidation at the current level.

We may see a healthy correction sooner then we expect. Maybe not today or tomorrow but within next few days.

But, don’t go running for shorts now. The time is to book your profit, at least partially. And put stop loss to the rest.

Till we have a strong support at 10570 there is no need to worry. If the support is broken, book your current profits immediately. 

Else as and when there is slight down movement, add again and keep riding the upmove till it lasts.

News worth reading

Welcome to the new section of our updates on NIFTY now. The news worth reading section. This you will find at the end of each update now, with the news that you should read in detail as they can have medium-term effects on the market.

Why are these news important?

Starting from the last piece of news, bond sales from RBI talks about overall money market conditions. It signifies RBI’s comfort level with current yield levels and its expectation about near future.

H1-B visa row with current changes being proposed has the ability to affect the immediate supply of skilled manpower to India and possibly affecting other related matters.

Now PSB getting recapitalization infusion is the first step of government in current fiscal to save debt-ridden PSBs.

Well, I am little wary about such moves, as, in the end, somebody has to pay the bill.

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