The week gone by has been a mixed bag. The Nifty saw a see-saw movement throughout the week and finally, on the last trading day, saw handsome gains to close above 8200.
As was mentioned in the last blog, the results season has begun and action is more stock specific than Index specific. Infosys & TCS were hammered for their guidance even after decent set of numbers. We believe the guidance for IT companies to remain muted on the back of strengthening INR. This however does not affect the stock performance over the long run. Both these IT giants remain in our favorable list.
RIL came out with its best performance in recent years. We believe RIL must be part of every portfolio just for the amount of cash it has at its disposal.
The week gone by also saw IIP & CPI along with WPI data announced. All three indicators had a positive surprise for the markets. IIP rose more than expected and Price Indices moved southwards.
RIL came out with its best performance in recent years. We believe RIL must be part of every portfolio just for the amount of cash it has at its disposal.
The week gone by also saw IIP & CPI along with WPI data announced. All three indicators had a positive surprise for the markets. IIP rose more than expected and Price Indices moved southwards.
What does this mean?
In layman's terminology I'd like to call these times as "Acchhe Din". The steps taken by the GoI in fiscal consolidation and discipline along with steps to improve ease of doing business have started bearing fruits, slowly, but surely.
This is the start of a very big movement in the Indian Economy and the Indian Markets. One should be a part of this movement and gain out of it.
Where do we go from here?
As was predicted in this blog, 8200 proved to be a very crucial barrier for the Nifty to cross. Now that Nifty has crossed that barrier, if it sustains above, we should be headed towards 8500.
We had also recommended to buy the A B C in the markets in our 18 September blog. A B C stood for Autos, Banks & Cements respectively. And we have seen that Autos and Cements gained handsomely over the last week and Banks started gaining from 16 October. We expect the further upside in Nifty will be lead by Banks.
The Mantra remains the same. Buy good quality stocks and stay invested.
Happy Investing!!!!
P.S. Wish you a very happy Navratri and a Joyous and Prosperous Vijayadashami
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