IT & Pharma sectors along with F&O expiry could maintain a positivity in the market : Amrapali Aadya

Mr. Abnish Kumar Sudhanshu, Director & Research Head, Amrapali Aadya for your consideration:

Gone by week remained strong following positive moment in beaten down sectors like IT & pharma counters along with F&O expiry. Going forward on Tuesday, GDP growth rate for the fourth quarter is schedule to declare. As we know demonization has impacted the Indian economic activity in the past so taking the cues from the past economic indicators we are likely to see softening in fourth quarter GDP growth rate and expect it to stand around 6.5%. Further also manufacturing and service PMI data are also awaited. As we know, previous month data remained disappointing amid stalled economic activity due to cash circulation issues. However, we have noticed remonetization taking place at fast pace so expectation of improvement on the above indicators are high. So we foresee slightly better numbers this time compare to precious.

Adding to it, IT major Infosys buyback news may also keep IT sector rolling. Hence, looking at the above scenarios, we expect market to trade on the positivity and could make effort to break its previous high in the near future. Last but not the least, U. P. election is also likely to play an important role in deciding the future market move. We advise investors and traders to keep their close eyes on the development happening in IT and pharma counters.

Source : Equity Bulls

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