Hello,
Markets are reeling under selling pressure.The Nifty was down by 225 points at 10234 and the sensex was down by 759 points at 34001. The markets are in a six month low. The world markets were down, following a tussle between the Fed Reserve and the White House. The President of USA Donald Trump wants to raise Interest rates and has called the FED crazy. This has led to a world sell off. Some Indian Institutions, are of the opinion that markets have bottomed out, and good stocks can be bought. It is still time to jump to conclusions, as Markets are showing weakness and many stocks are overpriced. TCS has come out with very good quarterly numbers, but it still was down by 3% at 1979.75.
This shows markets are very down and any good earnings are not prepping up markets.But one can look into good stocks and buy little quantities. On the whole markets were up since 2013, so a correction has set in. Pharma stocks, can be purchased due to the Pradhan Mantri Janoushadi might lead to good demand for pharma stocks.FMCG stocks willl do well and select Banking stocks might do well. City Union Bank is a stock which is quoting at INR 170/. it has shown good results till now.
