MY VIEW,
good morning,
Last week market ended below 3000 levels.I learned that come week there is stimulus package,rate cut which are positive for market.But advance taxes decline,holidays,corporate results seasons which is expected to be poor,day-by-day worsening global economy are negative for the market.I feel market will be restrained from up move.2524 will be crucial support and 3148 will be resistant.To my understanding untill market closes above 3148 then there will no up any further.And I feel this week will see some selling pressure and 2524 will be cruscial support to watch.
MY VEIW ABOUT MARICO
To my understanding ,technically the chart of marico industries shows some accumulation taking place.Its 52 week low is 41 and trading around 50-53. FMCG sector is attractive for investment when the bull trend starts I feel this company will have good buying.But one thing bothers me its major income is from egypt which pays in sterlling and the currency is weaking so I feel we can get this stock at even lower level.But I wont invest at this time.
Just Iwant to share my view about marico with you.
THANK YOU!