Sunday, November 29, 2020

Stock Market Weekly Outlook | Nifty & BankNifty ( 01-04 Dec 20 )

  

 Nifty and BankNifty, Stock Market Weekly Outlook ( 01-04 Dec 20 ) 


Stock Market Key News

👉Positive momentum sustained throughout November as bulls retained the upper hand. There was some volatility and rangebound trade in the last week, although the market hit a fresh intraday record high and closed 0.85 percent higher on the Nifty50.

👉The consistent FII inflow and positive developments on the vaccine front supported the bullish sentiment, helping benchmark indices log double-digit gains during the month. The news on vaccine also raised hopes for global economic recovery, though the COVID-19 subject is expected to remain for coming months.

👉The market will first react to Q2 GDP data which at -7.5 percent was ahead of analysts' estimates but overall the truncated week is expected to see some consolidation after the recent run-up and will look for direction from RBI policy, economic data points and auto sales data due in the week, experts feel.


RBI Policy

The Monetary Policy Committee is scheduled to meet for three days in the coming week and the final outcome will be released by the Reserve Bank of India on December 4. Experts largely expect the status quo with repo rate remaining unchanged at 4 percent and reverse repo rate at 3.35 percent due to inflationary pressures and maintaining accommodative stance, but the key thing to watch out for would be the commentary about growth in coming quarters and next year, along with the announcement of some measures if any, to support the economic revival.


Burger King IPO

Burger King India, a quick-service restaurant chain, is set to launch its Rs 810-crore initial public offering on December 2 and the same will close on December 4. The issue consists of a fresh issue of Rs 450 crore and an offer for sale of 6 crore shares by promoter QSR Asia Pte Ltd.
The price band has been fixed at Rs 59-60 per share and it would be the fourteenth IPO in 2020.


Auto Sales

Auto stocks including Maruti Suzuki, Tata Motors, Ashok Leyland, Eicher Motors, Hero MotoCorp, Mahindra & Mahindra, Bajaj Auto and Escorts will be in focus on Tuesday as monthly volume sales data for November will be released by the company.


Nifty Outlook

Traders are advised to maintain a 'buy on dips' approach while keeping their focus on the selection of sectors and stock specific.



"The ideal range for coming sessions would be 13,148 - 12,730 and till the time we do not breakout outside this range, we are likely to see trades on both sides, especially in indices. 

Friends till Nifty last closing uptrend were intact and not any major signals seen on chart that would suggest any major correction can took place. But in the last few trading sessions market showing tiredness on the top of the rally . So Nifty can trade in a sideways zones and we are likely to see trades on both sides, especially in indices. 


BankNifty Outlook


Traders are advised to maintain a 'buy on dips' approach while keeping their focus on the selection of sectors and stocks.



"The ideal range for coming sessions would be 30428 - 27703 and till the time we do not breakout outside this range, we are likely to see trades on both sides, especially in indices. 


Thanks for your Precious Time.


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Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.

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