Transcription of * Closing Price of July 24, 2018 - ICICI Direct
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* Closing Price of July 24, 2018 - ICICI Direct
ICICI Securities Retail Equity ResearchMOMENTUM PICKB ulls rising from slumber, stage set for relief 12, 2018 ICICI Securities Ltd. | Retail Equity Research1 Gladiator StocksCY18has,sofar, ,benchmarkshavecorrected13%fromhighs,led byconcernsovercurrentaccountdeficit, ,alongwithasharpcorrectioninthemidcapand smallcapspace,hasleftinvestorswithquesti onslike Isabearmarketaheadofus? or Declinesshouldbeboughtinto? ,aheadofQ2FY19earnings,festivalseason, ,alongwithtimecyclestudiesandbreadthindi cators, : Weexpectthecurrentindexdeclinetobeanchor edaround9900-10000andtheNiftytoheadtowar ds11400byendofCY18 Currentlyinfluentialeight-weektimecyclei ntheNiftysincethebeginningofCY18pointtow ardsmaturityoftheongoingdeclineinOctober ,followedbyafreshuplegtopanoutthroughDec ember2018aheadofstateelectionresults SeasonalityforQ4 CYbasedonpast22yearsdataofNiftyindex,poi nttowardsaverage10%gaineverycalendaryear inQ4,barring1998,thusfavouringabullishst ance Marketbreadthasmeasuredbypercentageofsto cksabove200daymovingaverageforNifty500is approachingitsbearishextremessuggestinga potentialturnaroundinsentiment, , OutlookTechnical Strategy NSE Nifty Monthly ChartTarget@11400 Indexsupport@9900 Nifty 10460 Sectors likely to OutperformScripI- Direct CodeSectorBuying RangeTargetStop lossUpside%State Bank of IndiaSTABANBFSI265-28031
ies – esearch ICK • BSE consumer goods moved within the leading quadrant. Consumer goods stocks have seen strong momentum last month, which is likely to continue.
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