Value Plus

Arihant's Value Plus - July 2019



After three consecutive months in a row, Goods and Service tax (GST) collection dropped below the 1 lakh Cr mark. Gross GST revenues in the month of June stood at Rs.99,39,048 Cr compared to Rs.1,00,289 Cr in the month of May. In addition to this, auto sales continued to face pressure due to weak buyer sentiment. Passenger vehicle sales declined 16% YoY, while two wheelers sales witnessed a decline of ~12.5% YoY. Overall there was a clear sign of slowdown in the economic activity. Now that the ruling party has got a second term in office, markets are hoping the government will fix what is broken and infuse life into the economy.

In this issue:

  • Movers and Shakers
  • Market Outlook
  • Nifty Technical Outlook
  • Stock Pick
  • Auto Sales
  • Commodity Pick
  • Mutual Fund
  • Key Events

On the monthly chart, we are observing a narrow range body formation which suggests indecisiveness prevailing at current level.

In coming month if Nifty trades and close above 11883 level then it is likely to test 12023 – 12162 – 12325 levels. However, if Nifty trades and close below 11694 level then it can 11554 – 11415 – 11252 levels. 

Broadly, we are of the opinion that the monthly trend still remains up and any corrective move near 11600 to 11500 should be viewed as buying opportunity for a target of 12023 – 12162 – 12325 levels.


Tags: Auto SalesKey EventsMutual FundMovers & ShakersMarket OutlookStock PicksNifty Technical OutlookCommodity Pick


Arihant's May Investment Newsletter is now available #ValuePlus.
Click here to download full pdf report.

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