- विज्ञापन -
New Delhi : The seventh and final phase of voting concluded on Saturday, June 1. The exit polls at the end of the same indicate a strong performance of the ruling BJP and NDA-led alliance across the country.
It was a volatile week and a complete reversal of the previous week. Markets lost on four of the five trading sessions and kept their prestige by gaining on the fifth day, Friday, which happened to be the first day of a new June series and was the shining star during the week.
The Indian Rupee was under pressure and lost 36 paise or 0.43 per cent to close at Rs 83.46 to the US Dollar. Dow Jones gained on Friday after a continuous losing streak.
While numbers suggest that they would have a more than comfortable majority on their own and may touch the magical number of 400 if the exit polls are to be believed.
Well, Tuesday would be another day, and things would become clear. As of now, it appears that things favour the incumbent, and they should get through comfortably.
Coming to the markets in the week ahead, while exit polls are in favour of NDA, one would like to be cautious for that one more day before celebrating wholeheartedly.
By Tuesday midday, results would be clear which way the wind is blowing. What should be the strategy for the week ahead? Looking at exit polls, a rally on Monday is almost certain. What may also happen is that post this rally, there could be some profit-taking and volatility.
Tuesday would see volatility as the election trend in the morning is sketchy and skewed. Post this initial hiccup, if exit polls hold good, markets should see a blast.
FPIs have been aggressive sellers, and a bout of short covering could give the needed ammunition to bulls to charge the market. It makes sense, therefore, to hold out your bets till markets stabilise post-Tuesday results and allow the euphoria as exit polls indicate to kick in.
New highs on NIFTY and BSESENSEX are on the cards, and one should not be surprised if we see levels of about 79,000 on BSESENSEX and 23,800 on NIFTY in the coming week.
Exercise caution in buying stocks where one is not comfortable with fundamentals. In conclusion, be cautious and allow exit polls to convert to results. Trade cautiously.
