Vishwas Agarwal
Market may move sideways: Vishwas Agarwal The BSE benchmark index, Sensex, after opening healthy at 17,356.99, slipped into the negative in the early trades. Later, the Sensex continued to trade weak in the noon trades. However, the index bounced back to positive and traded strong on account of buying interest in heavyweights. It touched an intraday high of 17,425.34 and low of 17,144.58. But, it lost its steam in its final hour to end on a flat note. Commenting on this Technical Analyst Vishwas Agarwal said, “The market was volatile today due to the ongoing political uncertainty in the country. The investors should not fear the current political turmoil, as both are responsible parties and know the side effects of any wrong moves.“ Commenting about the micro level he said, “ Economic growth, corporate performance and FII inflows are in the favor of market and the investors sho uld not be worried.“ Vishwas giving its outlook on the market said, “ Market may move sideways in the coming session due to the unexpected events, but the overall mode of the market is positive and strong.“ Showing no sign of bearishness Vishwas said, “I will be bearish only after FII inflow turns negative or slows down and corporates come out with poor results than their past performances. The support for BSE is at 17,150 and 16,666 and the upward target is 17,777 and 18,000.“
Follow RIL and SBI to track market momentum, adds Vishwas.
He recommended Bata, S Kumar Nationwide, Aptech, NIIT Tech and Tata Chemicals for trading with some stoploss.
For more stock recommendation and market outlook, Technical Analyst Vishwas Analyst can be contacted at 9322815816
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