The week ahead:Geo-politics and RBI meet to drive the markets..

Concerned by the possible conflict with Pakistan, markets corrected sharply during the last week wiping of profits of the investors. Panic selling was seen as the Sensex tanked 802 points and the nifty sank 271 points to close the week at 27,866 and 8,611.

Moving ahead, the outcome of the RBI meet on October 4th is the major event that’s coming up. Markets are keen to know how the new Governor will tackle interest rates. Before that, the market will react to the auto sales numbers for September. Another major outcome that can drive the markets ahead is the telecom spectrum auction and the results of the voluntary disclosure scheme of the income tax that has made the GOI reap a huge harvest. The near term trend , however , will be greatly influenced by the Outcome of the current geo political developments at the indo-pak border. The start of Q2 results season and global cues are also important factors to keep in mind.

For the week ahead, we expect a trading range of 27300-28,300 for the Sensex and 8400-8,700 for the Nifty. The present correction may be utilised to buy more quality stocks and add more to your portfolio. High volatility is expected in the markets.

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