Value Plus

Arihant's Value Plus - November 2016



Market Outlook November: Going ahead, Indian equity markets will remain highly volatile this month due to US Fed’s meeting on interest rate decision, US Presidential elections and geopolitical tensions between India and Pakistan. Fluctuations in the dollar-rupee exchange rates, macroeconomic events, movement in crude oil prices, foreign fund inflow, and ongoing Q2FY17 corporate earnings will be keenly watched by investors. We recommend investors to invest in fundamentally sound companies for long term perspective.

In this issue:

  • Movers & Shakers
  • Market Outlook
  • Fundamental Pick
  • Technical Pick
  • Auto Sector Oct Sales
  • Commodity Outlook
  • Mutual Fund
  • Key Financial Events

Nifty Technical Outlook November: On the monthly chart we are observing three narrow range body formations which suggest indecisiveness prevailing at current level. In the coming month if Nifty trades and closes above 8686 level then it is likely to test 8774 – 8861 – 8964 levels. However, if Nifty trades and closes below 8565 level then it can test 8477 – 8389 – 8287 levels.  

We maintain our stance that 8500 is a make or break level, any close below 8500 level would intensify the selling pressure. In such scenario Nifty may test the above mentioned support levels. Hence, one should hold their long position as long as Nifty holds 8500 on closing basis. However, stock specific activity in midcap is likely to continue ahead.


Tags: Auto SalesKey EventsMutual FundMovers & ShakersCommodity OutlookTechnical PickFundamental Pick


Arihant's November Investment Newsletter is now available #‎ValuePlus
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DISCLAIMER: This document has been prepared by Arihant Capital Markets Limited (hereinafter called as Arihant) and its subsidiaries and associated companies. This document does not constitute an offer or solicitation for the purchase and sale of any financial instrument by Arihant. This document has been prepared and issued on the basis of publicly available information, internally developed data and other sources believed to be reliable. Whilst meticulous care has been taken to ensure that the facts stated are accurate and opinions given are fair and reasonable, neither the analyst nor any employee of our company is in any way is responsible for its contents and nor is its accuracy or completeness guaranteed. This document is prepared for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. All recipients of this material should before dealing and or transacting in any of the products referred to in this material make their own investigation, seek appropriate professional advice. The investments discussed in this material may not be suitable for all investors. The recipient alone shall be fully responsible/are liable for any decision taken on the basis of this material. Arihant Capital Markets Ltd (including its affiliates) or its officers, directors, personnel and employees, including persons involved in the preparation or issuance of this material may; (a) from time to time, have positions in, and buy or sell or (b) be engaged in any other transaction and earn brokerage or other compensation in the financial instruments/products discussed herein or act as advisor or lender/borrower in respect of such securities/financial instruments/products or have other potential conflict of interest with respect to any recommendation and related information and opinions.