MARKET VIEW: Stay invested – Stay Cautious
Markets have bounced back after being hit by geo political issues and worries on GST collections. China and North Korea issues are no more on danger radar but GST implementation success is still uncertain. If GST collections in future are not as projected, it will seriously impact fiscal deficit, interest rates, and sovereign ratings in the long run. So we recommend investors to remain cautious.
Technical analysis indicates that immediate major support is at 9700. For the long term trend to reverse, Nifty has to sustain below 9450.
Existing investors should cautiously stay invested and fresh investment should be made in balanced or debt funds.
Market View: Stay invested – Stay Cautious /01/ Sept /2017.