Market Review

Nifty and Bank Nifty looking very vulnerable, on the verge of vertical fall.

Time to Sell on Rise?

On the macro front, the headwinds are growing, be it the surge in the bond yields, boiling crude oil prices or the INR trading above 66 vis a vis the USD.    On top of that, the recently published RBI's MPC minutes seems to suggest that a rate hike is around the corner, may be as early as the second quarter of FY 19.

Technically too, the corrective move in Nifty from 9950 to 10600 is losing steam.    Bank Nifty is showing signs of weakness.

I suspect that the adage, 'Sell in May n Go Away',  may come true this time.

Trading Calls

Scrip              Call                CMP                 SL               Target              Deadline  

Cyient             Buy                577                   570              595                    June, 26

Techno           Buy                 464                  457               485                   June, 26  

Torrent           Buy                1335                1315            1370                   June, 26      
Pharma

Market Review

Nifty is giving qualms.    Going by what the market is anticipating from the US Federal Reserve Bank over the next 48 hours,  it appears that Nifty is on the verge of caving in.

The spectacular rally in the USD causing steep correction in gold prices,  the rise in the US treasury yields since last month,  the Euro trading at historic lows vis-a-vis the USD causing to erode the export competitiveness of US goods and services,  etc. are some of the factors that may augur hard times for equity markets going forward.

Trading Calls

Scrip                                   Call             CMP            S/L           Target          D/L                    

IPCA Lab                           Buy               713             699               740           Mar. 13    

Ruchi Soya                        Buy                48               46                 52           Mar. 13          

MRPL                                 Buy                68               66                73           Mar. 13        

Finolex Cables                  Buy                279           275                295          Mar. 13         

Ashoka Buildcon               Buy                188            180               205           Mar. 13