Morning Market Quote : The market will continue to trade in a broad range of 17750-18150 Says Dr. V K Vijayakumar, Geojit Financial Services
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Quote On Morning Market 21 February 2023 By Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services
The market will continue to trade in a broad range of 17750-18150 since there are no triggers for a breakout or a breakdown crossing the upper or lower limit. At lower levels DIIs and retail investors will turn buyers and at higher levels FIIs will turn sellers. Trading opportunities are limited. But long-term investors can utilise the weakness in the market to buy high quality stocks in performing sectors. Autos is a segment to watch since this segment is coming out of a 5-year downturn and its prospects look good, particularly in the premium segment. Reports of very low hiring and retrenchment in the IT sector may impact sentiments in this space even though some mid caps like Persistent Systems are doing exceedingly well. Rising deposit costs are feared to impact the margins of banks even though credit growth continues to be strong. Top names in banking are good buys on declines.
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