💼There are some important takeaways from the market trends in the present context.
💼The Russia-Ukraine war has escalated with Russia firing even Inter Continental Ballistic Missiles.
💼The relentless selling by FIIs continues with the selling spree reaching a record continuous 37 days.
💼But the market has corrected only by about 11% from the September peak.
💼This is a correction, not a crash. The mother market US is bullish with 25.43% return YTD. These factors suggest that the undertone of this market is positive.
💼The market can recover from the present levels since yesterday’s selling was largely due to the fall out of the Adani issue.
💼But considering the headwinds the market is facing, a sustained recovery is unlikely.
💼The strength in the broader market should not be confused with the fundamental strength of the segment.
💼The strength of the broader market, particularly the midcaps, is due to liquidity and not fundamentals.
💼Fundamental strength and safety are in large-caps. Banking and IT are fairly valued. FMCG, metals and Oil& Gas are weak.
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Posted on : 22 Nov 2024 10:23 AM
