InvestorQ : What is your trading outlook for the Nifty and Sensex on Tuesday, 16th Nov 2021?
Moii Chavate made post

What is your trading outlook for the Nifty and Sensex on Tuesday, 16th Nov 2021?

Answer
image
diksha shah answered.
2 weeks ago
Follow

On Monday, the Nifty and Sensex closed flat with gains of around 6 points. The market was held up by the PSU stocks while metal stocks came under pressure. Goldman downgrading Indian equities and CLSA also joining the downgrade fray has been an overhang.

On Monday, the advance decline ratio was in favour of declines at 22:28. IPO listings on Monday were generally positive. While Sigachi got 250% premium on listing, Policybazaar gained over 20% despite a high price. The only disappointment was SJS at -5.5%.

Foreign investors net bought Rs.425 crore in equities while domestic funds bought Rs.1,525 crore on Monday. Among global markets, NASDAQ and Dow were flat while European markets were in the positive. SGX Nifty is trading 12 bps higher in early trades on Tuesday.

Trading outlook remains a buy-on-dips approach as the markets adjust to the slew of broker downgrades and the possibility of the Fed front-ending rate hikes. A lot will depend on the next policy announcement by the RBI in December.

0 Views