697: A morning walk down Dalal Street | Nifty may head to 10,819 if it closes above 10,752

13/12/2018
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Pruébalo Gratis

Descripción de 697: A morning walk down Dalal Street | Nifty may head to 10,819 if it closes above 10,752

It looks like D-Street is celebrating early Christmas. The S&P BSE Sensex rallied over 600 points while the Nifty50 reclaimed 10700 levels.
One sector which really stood out was financials. D-Street witnessed a sharp surge in shares of banks and non-banking financial companies (NBFCs) as well as banks under PCA.
Most experts feel that the departure of the RBI governor and appointment of Shaktikanta Das as the new governor could lead to (1) relaxation in certain regulations for the banking sector (higher liquidity, relaxation of PCA framework) and (2) a more liberal monetary policy.
Sectorally, telecom, auto, and realty stocks rose 2-4 percent respectively.
Technically, Nifty formed a bullish candle for the 2nd straight day. The Nifty50 has almost rallied around 4 percent in the last two sessions and there is a possibility that it can undergo some profit booking in next one or two sessions as it is likely to test its 200-Day Moving Average (10,752).
If the index closes above 10752 levels then the next target could be around 10819. On correction, investors can go long or buy with a stop below 10560 kinds of levels.