Cautious approach to trading
Next batch of corporate earning and management outlook will set tone of the stock market in the coming week. Apart from September 2015 earnings, new political developments emerging from Bihar assembly elections and happenings in the global markets will also affect the sentiments. In the coming week, UltraTech Cement, ACC, Hero Motocorp, Bajaj Auto, Wipro, Cairn India, Idea Cellular and HDFC Bank will announce their September 2015 earnings. The focus will continue on guidance from these corporates on outlook for the remaining part of the year. On the global front, a preliminary reading of manufacturing PMI indices of Japan, Euro zone and the US will be announced on Friday. While on Monday, markets will react to slew of announcements of macro-economic data in China over the weekend. China will announce data on third quarter GDP figures, industrial production for September and retail sales for September on Monday.
We maintain a positive bias till Nifty upholds 8200 mark. Traders should continue with positive yet cautious approach and prefer only quality stocks even for the day trade. Vijay Singhania, founder-director, Trade Smart Online