Indian Market Outlook for the week - 28.08.2017 to 01.09.2017
Indian Market Outlook for the week - 28.08.2017 to 01.09.2017
( www.rupeedesk.in )
The Domestic benchmark indices may rise next week, but are likely to see selling at higher levels. The Nifty 50 is seen in a range of 9700-9950 levels next week, with likely squaring off positions ahead of the expiry of the current month derivative series on Aug 31. There is likely to be selling at every rally as indicated by the recent data of institutional investors, and domestic buying is not matching up to the selling pressure by foreign institutional investors. In the last 10 trading days, net sales of foreign institutional investors amounted to $2.1 bln, while net purchases of domestic investors was $1.5 bln. The shares of Infosys are likely to lend direction to indices next week, as investors expect the stock to rise further if co-founder Nandan Nilekani returns to the board. Investors will take cues from the three-day summit of major central bank heads at Jackson Hole,
Wyoming.
Source : Cogencis Information Services Ltd.
Free Intraday Tips : Join Our Whatsapp No : 9841986753
Free Commodity Tips : Join our Whatsapp No : 9094047040
Indian Market Outlook for the week - 28.08.2017 to 01.09.2017
( www.rupeedesk.in )
The Domestic benchmark indices may rise next week, but are likely to see selling at higher levels. The Nifty 50 is seen in a range of 9700-9950 levels next week, with likely squaring off positions ahead of the expiry of the current month derivative series on Aug 31. There is likely to be selling at every rally as indicated by the recent data of institutional investors, and domestic buying is not matching up to the selling pressure by foreign institutional investors. In the last 10 trading days, net sales of foreign institutional investors amounted to $2.1 bln, while net purchases of domestic investors was $1.5 bln. The shares of Infosys are likely to lend direction to indices next week, as investors expect the stock to rise further if co-founder Nandan Nilekani returns to the board. Investors will take cues from the three-day summit of major central bank heads at Jackson Hole,
Wyoming.
Source : Cogencis Information Services Ltd.
