Market View: 12-16 JUN 2017

Filed in Market Update by on June 12, 2017
Week Market View: 12-16 JUN 2017
View Last week the NIFTY closed at 9668.25 registering a gain of 0.15% over previous week. The upward journey continues with a few hiccups that we saw last week. The markets have not yet corrected but what has gone unnoticed that there are corrections happening at individual script level. A lot of stocks have corrected in the last couple of months and hence moving forward we need to have a script specific approach. As mentioned in the earlier weekly market view as well, though the earnings and valuations have not gone hand in hand with the rally, the markets have re-rated themselves on account of GST and other favourable macro/micro factors. Hence, on a long term basis the markets will continue to move higher. On a short term basis if the markets are not able to take off 9750 then it could reach 9500 and then start the next move there. Do not expect a correction beyond 10% and that’s because the technicals are strong and for now companies too are not seeing any negative growth moving forward. However where we stand today, it is still not time to go SHORT. With the monsoons arriving and the good earnings we have had so far, we are in a good shape. This week we expect a slightly choppy market. Have a cautious approach. All the best!

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