Market Analysis - July 17, 2015 - Religare Securities Ltd

Market Analysis - Mr. Jayant Manglik, President, Retail Distribution, Religare Securities Ltd.

After recent surge, benchmarks took a pause on Friday as they traded in a narrow range and closed almost unchanged. In absence of any major cues, we saw participations continuing with stock specific trading approach with bias clearly on the positive side. Despite sluggish move in index, majority of sectoral indices ended in green while the market breadth turned flat by the end.

We reiterate our positive view with immediate target of 8700-8750 in Nifty. Hence, any pause or decline due to profit taking can be utilized to initiate fresh long trades. At the same time, traders should maintain extra caution in stock selection as we have been seeing erratic move due to prevailing earning season.

Source : Equity Bulls

Keywords