Below are views on the market By Amit Doshi,Head strategist - Equity Sushil Finance
Q1. What is your current market reading ?
Do you think market is waiting for some event push to break the current resistance and make new high ?
Ans. The current market has already started its journey to new life time highs and BJP’s performance in the UP elections could be an immediate trigger for the index to break above its previous life time highs.
Q2. How should one look at FED policy especially in the back drop of new President ?
Ans. US FED is on its course for a couple of rate hikes in calendar 17. The latest FED survey indicates that US’s unemployment rate is within FED’s targeted zone and the members feel that, FED should not stay behind the curve.
Q3. Your take on Inflation and Neutral stance of RBI in last monetary policy ?
Ans. RBI in its last monetary policy has kept the rates the rates unchanged and changed the stance to neutral on the premise that certain portion of inflation is sticky, there is a risk of commodity price surge related spike. The future action on rate from the RBI would be data dependent, on the commodity prices and US FED action.
Q4. Were you disappointed or satisfied with the Budget ?
Ans. We were reasonably satisfied with the budget as there were no major negatives in the budget 2017 and government’s push on infrastructure, rural economy and a plan to stick to fiscal prudence has given market confidence to scale to new highs.
Q5. In your opinion what are the sectors that one should watch out in times to come ?
Ans. In our opinion sectors like engineering, infrastructure, agriculture, banks and financial sectors could do well in times to come.
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