InvestorQ : Can you give your stock market view for Friday 04 June?
Dia Deshpande made post

Can you give your stock market view for Friday 04 June?

diksha shah answered.
2 years ago

It looks like the bulls are back with a vengeance. In fact, the positive sentiments continued in the market ahead of the RBI policy announcement on Friday with both the Nifty and Sensex at new highs. There was also a sense of conviction and decisiveness in the A/D ratio at 35:14 as well as the VIX at 16 indicating that downsides were limited.

The focus now shifts to the Monetary Policy Committee on Friday as it announces the second policy announcement of the FY22. As is the consensus on the street, it looks very unlikely that the RBI would either tinker with the rates or the stance. However, the real area of interest would be the borrowing program of the government and GSAPs timetable.

FPI action was once again positive on Thursday showing evidence of net buying of Rs.1,079 crore although the domestic institutions sold equities worth Rs.279 crore. The good news is a turnaround in the sentiments of the FPIs after heavy selling by FPIs in April. While flows were kind of flat in May, they do look like decisive buyers in June in Indian equities.

Global cues from the NASDAQ is negative but rest of the markets are flat and indecisive. The SGX is flat in early trades and there could be some Friday caution. Otherwise, markets are clearly in an uptrend and Nifty looks set scale towards the 16,200 mark. It is time to focus on the oil and gas plays in the market at this point of time.


2 years ago

Focus on delivery stock.... Low ticket size stock.... Such as...

1 Castrol India CMP 140..... Trget 200
2 DFM Food.... 400