Pre Open Thoughts: Volatility To Continue!!
Ø Peace is when time doesn't matter as it passes by. Indian stocks are again set to resume their descent. Most overseas markets are down. US closed with a loss of half percent so did the European counterparts.
Ø Money flows into risky assets are unlikely to improve until the macro-economic picture turns favourable. And, given the kind of political sparring underway on a series of issues, it will take a while for the Indian economy to accelerate.
Ø So, the bumpy ride is set to continue for a while before things start looking up. The coming quarter will be important. The RBI too is under some pressure to alleviate pressure due to liquidity squeeze. It will be interesting to see what step does the central bank takes as inflation is still sticky and growth remains sub-par.
Ø The Indian market has turned volatile on the back of weak global cues, Nifty did not manage to sustain above the key support of 5300 . The immediate support for the Nifty is placed at 5200-5160 levels and any move below it could aggravate the selling pressure in the near term.
Ø Trade carefully as volatility is here to stay in the run up to the crucial RBI meet.
No comments:
Post a Comment