Author name: Anosh Mody

In a bold move silencing all bears, Nifty ended the first week of December a healthy 2.23% in the green, even as naysayers called a top on every rally, supply was absorbed, and stocks performed very well this week.

Industries like IT have consolidated for the most part and may be in focus, helping drive the market higher. And with the vaccine news, cold storage & pharma companies have already begun their climb.

It is important to note that while the bull trend is undeniably strong, FIIs have cut back on buying which may be an important factor. In the past, the markets have fallen when FIIs are net sellers. So while the FIIs bought over 10,000 crore the DIIs managed selling 6,100 crore worth which is still a strong number.

A potential hurdle that may hinder the positivity may be the bearish RSI divergence in Banknifty. But despite this, many banking stocks look favourable on the charts.

So even though we witnessed sharp intraday corrections, the market maintained trajectory. Nifty has continued to make ATH this week despite Reliance being 20% down from its highs. One can imagine what would happen if RIL came back on track.

Read this week’s edition of Market Chronicles to understand our view on how the markets are placed and what we may see happening this coming week

Curious to know where the markets might be headed after a record November session? Read on!

Nifty ended the month of November an unbelievable 11.4% in the green! Most of the gains were contributed by the first 2 weeks of trade. The last 2 weeks were full of turbulence, as is natural to expect near the 13000 mark on the Nifty.

FII/DII activity was very strong, with the FIIs buying to the tune of 65,000+ crores or ~US$8.7bn and DII selling equivalent to less than 75% of that figure.

Bank Nifty had a phenomenal November, too, surging an amazing ~24%! The “sell financials buy healthcare” gang was handed a rude shock by the markets, as Bank Nifty outperformed Nifty Pharma by ~17% this month. However, Bank Nifty still hasn’t broken out to a new all time high

So while the overall trend is undeniably bullish, some indicators do point towards a possible short-term correction in the markets. Why so?

To understand our rationale, read this week’s edition of Market Chronicles by Anosh Mody & Krunal Rindani (viz. Stock Markets With KR) only on The Financial Pandora!

Confused by the wild moves in the stock markets this week? Read on! The past week was one of the most important ones we’ve seen. An interesting “battle” between the bulls and bears amidst the Earnings season. This was at a point where Nifty, approaching the famed 12k level, seemed unreasonably overvalued to many. So after trying to break past that level a couple of times, Nifty cracked, and it cracked hard.