|Market This Week
||The markets have retained their positive strides and gained back all the lost ground in the later half of last week. It has managed to come back to 6064 levels. The global picture seems to be fairly good now. The FII flows are intact and positive. The corporate earnings we saw last week, they have been fairly good except the odd move from Hero MotoCorp and Exide Industries. There have been certain changes last week from reforms front, which are good. Diesel is now selling at market rates to bulk consumers. This cuts down the overall cost by around Rs 13,000 crore for them. Let’s see what they do for diesel on a monthly basis now. As a next trigger point for the market, any announcements on disinvestment, pending bills on GST and DTC and upcoming RBI policy can trigger the next move. Other domestic triggers can also move the market by another 5-10 percent in next couple of months. We could look at 6100-6150 on a short term.
Market seems to be in a good shape right now with sectors like oil and gas providing leadership. There might still be a little volatility but our uptrend is intact on the charts and we are still very well poised to pour in our money.