Hai, Im back after a cool vacation in Coonoor with three lovely friends and my wife. The markets seem to be doing ok with corrections at the proper time. Today the markets started on a weak note but went up by 131 points the sensex reaching 24682 points and the nifty up by 38 points reaching 7499.
The outcome of the Fed meeting due tonight has had a positive impact on the markets. Private Banks, FMCG and select technology stocks went up which helped the market rebound.Analysts expect the market to hit record high in the next financial year, though in short term it may remain rangebound. Vaibhav Kapoor of IL&FS feels Nifty could inch towards 9000 mark by March 2017. if the monsoon turns out to be good and global factors settle down. At present it is better to buy and book profits selectively in stocks as markets offer a good opportunity to exit. Tata Motors is one such stock were exits have been made by me. ITD cementation which is in the Infrastructure sector seems to be a good stock as Infra has been given impetus by the present Government. FMCG stocks will be a good stock if Monsoon arrives at the proper time. Banks will do well as the Jan Dhan Yojana seems to attract a lot of depositors. Banking will be a good sector to invest in as India as a country will attract a lot of depositors and Banks are bound to do well especially, Private Banks as they are out of Government control.HAPPY TRADING AND INVESTING.
