Equities may remain volatile in the coming week as traders rollover positions in the derivative segment from November series to December series ahead of the expiry on Thursday, 26 November.
An ongoing recovery in the economy may support share prices. Industrial output grew 9.1% in September 2009 from a year earlier, helped by stimulus and festival demand. Also Finance minister said that stimulus packages are unlikely to be withdrawn in the current financial year.
RBI revised downwards India's gross domestic product projection to 6% for 2009/10 from 6.5%. OECD raised India's 2010 GDP growth forecast to 7.3% from 7.2% earlier. OECD sees 7.6% growth in India's GDP in 2011.
Investors will closely watch the debate in parliament on three key reform bills - the State Bank India Amendment Bill, the Pension Fund Regulatory and Development Authority, and the Insurance Bill.
Nifty Support 4870 and 4740. In the near term expect Nifty to touch 5140, 5230 and 5270. Nifty will be in the broad range of 4400 to 5350 from now to the end of the year
Strong global and domestic liquidity may support equities. Market will be extremely volatile with a positive bias.
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