Nifty will break

images-1-4The Indian market is bound to suffer due to this in the near-term. Nifty, is sure to break the Brexit day low point of 7,927 points.
The emerging markets are unlikely to do well in the near-term owing to a stronger dollar and rise in US bond yields.Huge amounts of money flowing back from the EMs to the US.The Indian market is bound to suffer due to this in the near-term. Nifty is sure to break the Brexit day low point of 7,927 points.Do not too worried about the cash crunch at this point, as it may only last for another month. But the main issue is how long the impact of demoetisation will last. The December quarter results of companies will show the real condition. I am confident that bottom line may not actually be that bad. This fact will give a boost to trader sentiments.The auto sector is a very good sector to buy into, as i feel the demonetisation effect won’t last very long on this sector. But wait for the share prices to get 5-10 percent cheaper. Recommend oil and gas companies due to the surge in crude oil prices after the OPEC decided to cut output for the first time in eight years on Wednesday.

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