Just a week gone
in 2016 and the Nifty tanks 4% with the
sign of strong bearish. We anticipate
the correction will be recovered based on the reversal of Crude oil price and
budget forecast.
Crude oil price is the major concern to for the huge
correction in the global sentiments which creates cascading effect to our
market as well. Last day crude oil break
the major support of 35$ per barrel and now searching for the best support
nearby.
In this best opportunity we recommend to pick
fundamentally good stocks which is fairly valued by market with “Margin of
Safety” price. Following “SECTORS” are lucrative to us - Media,
IT , FMCG and Pharma. Bank sector will be more attractive when rupee gets
strong. Avoid stock which are technically in trend but valued high like GM
Breweries, Arrow Coated plus others for time being. You can accumulate once storm is over.
NIFTY
New Support at 7550 points
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