The index will undergo consolidation in the 21,900-21,300 range amid stock-specific action as we enter the Q3 earnings season. This would contribute to a healthier market and set the stage for the next leg of an upward move, says ICICI securities.
Since end of October 23 the intermediate corrections have been limited to 3 percent while time wise correction has not exceeded for more than 2-3 sessions, highlighting inherent strength in Nifty. As per ICICI securities, any breather should be capitalized to accumulate quality stocks ahead of Q3 earning season.
Since end of October 23 the intermediate corrections have been limited to 3 percent while time wise correction has not exceeded for more than 2-3 sessions, highlighting inherent strength in Nifty. As per ICICI securities, any breather should be capitalized to accumulate quality stocks ahead of Q3 earning season.
India VIX has reached its highest levels in more than 6 months, closing at 14 levels due to the closure of Call writers positions. While the market remains in an uptrend, analysts believe that such a sharp rise in volatility ahead of the results season suggests one should exercise caution in highly leveraged stocks.