InvestorQ : Can you share your trading view for the 17 December 2020? How do you see the Nifty and Sensex in the midst of this rally?
Dilmini Mercia made post

Can you share your trading view for the 17 December 2020? How do you see the Nifty and Sensex in the midst of this rally?

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diksha shah answered.
3 months ago
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On the overall market scenario, the upper range of call accumulation is shifting closer to the 14,000 mark. For now, it appears like the abundance of liquidity in the system, relatively low rates of interest and equity appetite of FPIs and domestic investors is set to continue.

On 16 December, the Nifty and Sensex took cues from the US markets. It opened strong but also held on to gains as the Nifty closed at 13,683 levels; just shy of 13,700. The Nifty gains between late October and mid-December is in excess of 18%; and that is phenomenal returns.

On Wednesday the key gainers were a mixed bunch spread across sectors like metals, autos, telecom and financials. Many of the auto stocks did pretty well on hopes of price hike after Hero Moto opted to hike the price of all motorcycles to offset input costs.

There is no sign of let-up in FPI buying in the Indian markets. They were net buyers of Rs.1982 crore while DFIs sold Rs.1718 crore on Wednesday. As of date in December 2020, FPIs infused Rs.35,000 crore even as year 2020 has emerged as a record year for FPI flows.

On global cues, there was buoyancy across the US and European markets on Wednesday. While European markets appreciated by 100 bps on an average; the US markets were relatively muted with gains of around 50 bps. The SGX Nifty is flat in early trades on Thursday but could take cues once Asian markets are fully functional on 17 Dec 20.

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