Morning Market Quote : Market is poised to break out of the range of 18300-18600 Says Dr. V K Vijayakumar, Geojit Financial Services
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Quote On Morning Market 5 June 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Market is poised to break out of the range of 18300-18600. Nifty has moved up by 9.5% from the March lows and the market momentum is strong. Macro news flows are positive for a breakout of the upper range. But more activity is likely to be in the broader market where many mid and Smallcap stocks are breaking out. There is valuation comfort in the mid and Smallcap universe.
Even though banking is a crowded trade, the sector will remain resilient since interest rates have peaked and credit growth continues to be robust. Autos have the potential to outperform since there are clear signs of revival in demand. Midcap IT is far outperforming largecap IT.
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