InvestorQ : What is your market view for trading the stock markets on Monday 28 December? Do you see Nifty going up further?
Anjana Aiyar made post

What is your market view for trading the stock markets on Monday 28 December? Do you see Nifty going up further?

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diksha shah answered.
3 months ago
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The truncated previous week was qui eventful. Nifty and the Sensex recouped all their losses after the crash of Monday and closed the week almost flat. The one stock that needs to be watched is Reliance as it is close to Rs.2000 and had rallied sharply on Thursday.

A number of indicators were extremely positive on Thursday. A/D ratio was favorable at 32:18 while the India VIX fell below 20 from 26.50 just 3 days ago. The put accumulation has moved up from 13,500 to 13,700 on the Nifty, and that is a signal of confidence.

Foreign portfolio investors were net buyers worth Rs.1226 crore on Thursday while DFIs sold Rs.1898 crore. Till date, FPIs have infused Rs.60,000 crore into equities and debt in December and look all set to breach the last month levels in terms of flows.

On Thursday, ahead of Christmas holidays, Dow and the NASDAQ closed in the positive, albeit by a small margin. Europe also saw positive vibes. On Monday, the SGX Nifty is up about 33 basis points in early trades even as Asian markets could drive sentiments.

Coming to your question of Nifty going up, I think 14,000 will be the key level and for now it looks like there is an absence of triggers, so Nifty may spend some time around these levels. The December quarter results could hold the first key to a possible breakout.

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