Morning Market Quote : FIIs turning buyers is a major support at 17800 Says Dr. V K Vijayakumar, Geojit Financial Services
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Quote on Morning Market 20 January 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
Nifty which is now stuck in a narrow band of 17800-18200 is likely to remain in this range in the absence of major triggers. FIIs turning buyers is a major support at 17800. Triggers to take Nifty beyond 18200 are not yet visible. Large Q3 results from the likes of RIL, ICICI Bank and Kotak have to be closely watched for indications. The strength of HDFC twins and the weakness of ICICI Bank indicate some churn within financials. Data on capex, credit growth and manufacturing and services PMI indicate that the growth rebound in the economy is robust. Capital goods segment has the potential to outperform this year.
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