InvestorQ : What is your trading view for Monday 14 December 2020? Do you see the rally sustaining further?
rhea Babu made post

What is your trading view for Monday 14 December 2020? Do you see the rally sustaining further?

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diksha shah answered.
6 months ago
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The Nifty and the Sensex have been moving one way up, except for that brief interlude on Thursday when the markets corrected. Even the call writing range has been consistently moving up and it is now closer to the 14,000 call on the upside.

There was a data boost for markets. After markets closed on Friday, the IIP numbers for October 2020 came in higher at 3.6%. This was on the back of a sharp turnaround in manufacturing growth which could be another boost for the markets on Monday.

One opportunity to watch is oil. With crude oil likely to hover above the $50/bbl mark in the near future, you can expect more upsides in stocks like ONGC, GAIL and IOCL. Most of these stocks are priced for oil levels of $35/bbl; so you could be sitting on a goldmine.

Foreign investors were net buyers of Rs.4196 crore while DFIs sold Rs.2359 crore on 11 December. FPIs have infused Rs.27,000 crore in Dec-20 over and above Rs.65,000 crore in Nov-20. Year 2020, has seen record FPI inflows of Rs.143,000 crore, with 15 days to go.

Dow and NASDAQ were flat on Friday on vaccine uncertainty while the European markets were lower on sustained differences over BREXIT. SGX Nifty is trading 40 bps higher in early trades and the trend appears to be buyer on each dip.

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