Monthly

Arihant's Value Plus - January 2020



Indian market closed the month of December on a buoyant note, with benchmark indices scaling new all-time high levels. The S&P BSE Sensex was up by 1.1% and the CNX Nifty climbed 0.9% for the month. Despite year-end holiday mood, foreign investors remained net buyers for the month and pumped in Rs694crin the cash market, though domestic investors were in profit booking mode and were net sellers of Rs 741 cr in the cash market for the month of December. In a major reform push, the government on the last day of the year (31st December, 2019) unveiled Rs 102 lakh crore ofinfrastructure projects that will be implemented in the next five years as part of thegovernment's spending programme in the infrastructure sector.

In this issue:

  • Movers and Shakers
  • Market Outlook
  • Nifty Technical Outlook
  • Stock Pick
  • Auto Sales
  • Mutual Fund
  • Key Events
  • Economic Data Wrap Up

On the monthly chart, we are observing two consecutive narrow range body formations with higher highs. This suggests that the undertone in the market is positive and momentum on the upside is likely to continue.

In coming month if Nifty trades and close above 12260 level then it is likely to test 12395 – 12530 – 12687 levels. However, if Nifty trades and close below 12076 level then it can 11941 – 11807 - 11650 levels. 

Broadly we are of the opinion that the monthly trend is up and any decline in the range  of 12101 – 12059 - 11941 should be used as to go long, with a stop loss of 11940 for a target of 12395 – 12530 – 12687 levels.


Tags: Auto SalesKey EventsMutual FundMovers & ShakersMarket OutlookStock PicksNifty Technical OutlookEconomic Data Wrap Up


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

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