MARKET VIEW: Recovery to take more time
BJP could not get a strong majority in Gujarat weakening its position. Though markets are up on BJP wins, the economic situation cannot be improved in short term and needs some strong steps from BJP. If it announces a strong fiscal stimulus overlooking deficit and inflation, in that case, the economy, as well as the markets, will get a fresh boost.
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.
Investors should focus on balanced funds and SIP investors can continue.
Market View: Recovery to take more time/19/ Dec /2017.