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Metal Stocks Outlook for the week – 23 to 27.03.2015
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( www.rupeedesk.in )
Stocks indices are seen correcting further next week with volatility expected ahead of the
derivates expiry on Thursday and with investors looking forward to the Jan-Mar earnings.
Ahead of the expiry, profit will be taken in stocks which had an upside. From April, people will start looking freshly at the year ahead with the earning in focus.
Most market participants expect subdued earnings for Jan-Mar, especially with the disappointing earnings seen in the previous quarter. There is no major trigger and the market is lagging because of that. All sectors are showing weak trends. Quarterly earnings will be the next big trigger.
We also expect volatility to persist in the market as the Vix is not falling and also because of
derivates expiry next week. Among sectors, banking, auto and other aggressive sectors are seen as weak next week. Among sectors, banking stocks are widely expected to remain subdued next week as valuations are expensive.
Pharmaceutical stocks are seen positively being a defensive along with Information Technology.
IT stocks have seen a correction post revisions in earnings forecast and now they are likely to
rise.
Some of index heavyweights are still trading in oversold zone so strengthening the possibility of technical rebound in the coming sessions.