Good morning! Yesterday was a historic day in markets, with benchmark indices Sensex and Nifty50 hitting all-time highs. However, due to profit-taking at higher levels, the Nifty slipped 95 points from the intraday record high of 12,132.50 to settle at 12,037.70.
For today, the momentum is definitely intact and the 'buy on dips' strategy continues. Here are a few cues to corroborate this view:
Although this is a strong bull run, there are a few cues to watch out for:
on Friday, we will get the Q2 GDP data print and the expectation is that it could be a sub 5% print this time
on Sunday 1st December we will get auto sales for the month of November and most automakers have indicated this months print will be subdued and retail sentiment has not improved
Here are some stocks to watch out for in today's trade:
Yes bank could be in the green as the board will meet on Friday to approve fundraising.
Cipla may remain under pressure as the USFDA has Issued four observations to the drug firm's Patalganga plant.
ICICI Bank surged to a life-time high as MSCI rebalancing came into effect.
Morgan Stanley has a very bullish view on HDFC, with an "Overweight" call. The brokerage raised the target to Rs 2,900 from Rs 2,600 per share.
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