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9:33 AM

Comment: Financials remain the fairly valued segment of the market


The global support for the market rally in India continues. It is important to understand that the US is leading this rally with 18.4 per cent returns YTD in S&P 500 compared with 12.7 per cent YTD returns in Nifty.

Latest inflation data in the US indicates a rate cut by the Fed in September. This is likely to keep the US market buoyant with positive impact in India, too. However, valuations in India are moving to elevated levels. Investors have to be cautious about the excessive valuations in the momentum stocks which are moving to frothy levels.


 


IT results from TCS and HCL Tech indicate improving prospects which the market is discounting now. But the growth projections of IT companies remain low and, therefore, a sharp restart from the present levels is unlikely. Financials remain the fairly valued segment of the market. Decline in US 10-year bond yield is positive for FII inflows.




(Comment by: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services)

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8:52 AM

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8:41 AM

Nifty 50 bullish, MidCap Select rangebound on charts; trading strategy here

The oversold zone is anticipated to be around 22,500, where investors should look to accumulate the index and its constituents for the short term. Given the overbought conditions and the high resistance level, it is crucial to exercise caution. Booking profits near the resistance level ensures that traders lock in gains while avoiding potential downturns. If the index breaches the 24,150 level on a closing basis, it would signal a shift in the near-term trend, warranting a more defensive trading strategy. READ MORE

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