MARKET VIEW: Investors should be cautious
Markets have risen on exit polls but the major drivers of growth - corporate investments, consumer demand, and exports continue to be in downtrend. Valuations are still high on muted corporate earnings. A revival in economy is going to take time.
Technically, a fresh bull run can start if Nifty crosses above 10500. On downside, 10000 is the immediate support. If Nifty falls below it, 9700 will be the next major support.
Range-bound markets are expected barring any major change from exit polls in the election results on 18th December.
Investors should focus on balanced funds and SIP investors can continue.
Market View: Investors should be Cautious/15/ Dec /2017.