Weekly Reports
9-Mar-24 Technical & Fundamental Insight
Last week – review
Technical trend turned positive and expected indices to test higher level in 4-day trading week. Banknifty outperformed this week as ICICIBANK, AXISBANK & SBIN lead the Banknifty rally. Mid-cap & Small-cap under performed as Small-cap index closed the week with cut of 2%.
We have maintained our exposure around 65% – 75% and would prefer to increase deployment gradually with stock specific approach. Market continues its uptrend and momentum could get strong if it is supported by action of central banks which could lead to short covering rally ahead of financial year end.
2-Mar-24 Technical & Fundamental Insight
Last week – review
Indices closed mixed this week as Nifty 50, SENSEX & Banknifty ended with around 1% gain, while Mid-cap 100 & Small-cap 100 closed with loss of around 1%. GDP data released on Thursday after market hours provided much needed rally from lows of the week to record high on major indices. Mid-cap & Small-cap underperformed this week as SEBI asked for further disclosure and regulation from Mutual fund.
We see recent development as fresh positive triggers and we may find opportunity to deploy fund available. In last few weeks, we have been underweighted as we were expecting correction, but market witness sideways correction / consolidation and Friday ‘s rally changed the sentiment.
24-Feb-24 Technical & Fundamental Insight
Last week – review
Last week market movement were more related to volatility seen during this week but indices continue to trade in narrow range. Nifty 50 & SENSEX closed at fresh all-time high was market sentiment remain cautious.
Nifty closed @ 22212 at fresh 52-week high indicates further upside while 21958 to act as important support level. Banknifty @ 46073 to act as important support level. Technical setup remains bullish till Nifty @ 21957 & Banknifty @ 46073 holds. We expect indices to test higher target on Nifty @ 22448 & Banknifty @ 47748 & higher.