3 Reasons Why Analysts Say Sentiment Bullish Despite Markets Ending Flat Again

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3 Reasons Why Analysts Say Sentiment Bullish Despite Markets Ending Flat Again

By Aditya Raghunath

Investing.com -- The BSE Sensex 30 closed down 85 points while Nifty 50 ended flat today as markets remained weak for the second consecutive day. UPL Ltd (NS: UPLL ) and Tata Steel Ltd (NS: TISC ) gained over 2.5% each while Hindalco Industries Ltd. (NS: HALC ) and JSW Steel Ltd (NS: JSTL ) gained over 1.8% each.

ITC Ltd (NS: ITC ) closed lower 2.88% while Tech Mahindra Ltd (NS: TEML ) lost 1.23% and AXIS Bank Ltd (NS: AXBK ) lost 1.02%.

  1. RBI policy to stay easy: Markets believe that Reserve Bank of India (RBI) will continue to maintain its easy policy on interest rates as it looks to spur economic growth. It will ensure liquidity is maintained in the system while keeping an eye out for inflation.
  2. Strong technicals: All technical charts show a bullish trend for markets. Trading might be weak but markets are looking at 15,900 as the next target for Nifty. The index can fall up to 15,100 but it should be looked at as a buying opportunity.
  3. Strong oil prices: Crude oil is trading at $68+ levels. The OPEC+ meeting on Tuesday confirmed that the cartel would gradually increase production which is a signal that the economic outlook is improving.

US stocks are set to open in a muted fashion Wednesday, following Tuesday’s quiet start to the month and ahead of the crucial employment report at the end of the week. US futures are trading mixed with S&P 500 Futures and Nasdaq 100 Futures flat while Dow Jones 30 Futures are up 0.15%.

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  • Sridhar N Rao @Sridhar N Rao
    Just keep predicting a storm, someday it will strike. Till then, keep losing the sunshine and sweet rain!
    Like 0
  • Sridhar N Rao @Sridhar N Rao
    Nothing will happen immediately, the bubble will grow larger and many fearful will loose money. Since market is moving up now, be with it. When it falls, again be with it. Economists do not make or lose money. Traders do.
    Like 2
  • devraj jaat @devraj jaat
    operator trap retailers it's totally fraud
    Like 1
  • Manoj Goyal @Manoj Goyal
    it is definately a market bubble but no one knows when it burst out
    Like 2
  • Sanket sawant @Sanket sawant
    But RBI had gave a hint on Stock Market Bubble …. Does he have something which is gonna effect market sentiments???
    Like 2
    • Manoj Goyal @Manoj Goyal
      when RBI has given a hint?
      Like 0
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  • satyabrata nayak @satyabrata nayak
    mkt is expected to positive news...
    Like 3

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