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Rupak De of LKP Securities maintains a bullish outlook on Nifty, anticipating a rise to 25,000-25,250 if it holds above 24,800. Despite Bank Nifty's weakness, he recommends buying UNO Minda and Lupin, citing positive technical indicators. Conversely, De suggests selling Axis Bank due to bearish signals and its position below the 21 EMA.
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Market analysts are keenly watching global events like the Jackson Hole Symposium and potential US tariff impositions. These events will likely influence market trends. Domestically, GST rationalisation is expected to boost consumption and corporate earnings. FMCG, apparel, and footwear sectors may see growth. However, regulatory risks in online gaming make it a less attractive investment option for now.
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Global markets showed strength after Jerome Powell hinted at possible rate cuts. Gift Nifty futures in India suggested a recovery. However, Indian cash markets showed caution. US markets rallied, increasing bets on a September rate cut. Powell mentioned tariff pressures affecting consumer prices. Investors should watch US economic data and the September FOMC meeting.
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News and Media
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