Volatil­ity to con­tinue

Money Times - - Market Outlook | Stock Buzz - By Ro­han Nalavade

Last week, the mar­kets were volatile touch­ing both sides of the range. Now, the Nifty is range­bound at 11250-11550. A big break­out of 500-600 points is likely to be seen in the next 10-15 days. Fresh buy­ing will emerge only if the Nifty crosses 11600, which is a re­cent top from where the mar­kets slipped. Be­low 11350, po­si­tional sell­ing will be seen. So, trade with cau­tion.

The mar­kets will take cues from global events like USA’s and China’s trade war. Crude oil prices are on the rise and so are petrol prices. Hence, in­fla­tion is also likely to rise next month and RBI’s prob­a­ble rate hike in its meet­ing sched­uled for 4 Oc­to­ber 2018, may also im­pact the mar­kets es­pe­cially Bank Nifty. There­fore, be cau­tious and take light po­si­tions till the over­all sen­ti­ment im­proves.

In the cur­rency mar­ket, the INR is trad­ing in the range of 71.4/72 against the USD. A close above 72 will push it higher to 72.5-73 lev­els. The INR will gain strength only on a close be­low 71.4 against the USD. Among stocks,

Col­gate-Pal­mo­live (In­dia) looks good above Rs.1120 for Rs.1140-1145 (SL: Rs.1111) Bata In­dia looks good above Rs.1040 for Rs.1065-1070 (SL: Rs.1020) Ju­bi­lant Food­works looks weak be­low Rs.1335 for Rs.1310-1300 (SL: Rs.1355) Re­liance In­dus­tries looks weak be­low Rs.1260 for Rs.1230-1200 (SL: Rs.1279)

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