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Being considered one of the safest investment options, the number of investors looking to invest in Debt Mutual Funds is increasing each day. Now that they have an answer to their question about ‘where to invest, they are keen on cracking the way to select the best debt mutual funds to ensure the safety and productivity of their investment. Thus, here’s our financial expert helping you understand the best way to select the right debt funds for you.
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The impact of rise in USD INR was felt in Bank Nifty which saw decline of more than 1% but broader market remained strong with both mid cap and small cap ending in positive terrain.
For Nifty the view continues to remain positive
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Markets turned cautious on Wednesday to end lower ahead of Fed rate action and Nifty managed to sustain above important Sep Series VWAP support of 17666 even during the closing session.
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Markets rebounded from lows to end in positive terrain with Nifty closing above 17,600 but breadth of market remained negative.
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In short term, after Friday’s correction the spread of Nifty50 - Nifty500 Index has moved back to support zone of bullish flag and would ensure good chances of sustainable rebound in the coming days with expectation of Nifty 50 hitting all-time high in the coming week.
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The current setup in Sensex post 19 August has emerged in bullish ascending triangle and this would mean market has gathered enough firepower to hit 19000 levels in Nifty in the coming days.
Yesterday’s decline can be attributed to e-leg decline of triangle which is generally followed with sporadic surge in price up move along with volumes.
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There are around 44 AMFI registered Fund houses in India offering more than 2500 mutual fund schemes and 11 types of equity mutual funds. While everyone tells you to invest in mutual funds, but no one helps you to select the right mutual fund that matches your risk profile and investment goals. Therefore, in this podcast, our financial expert will help with the steps you need to follow to select the right mutual fund. It’s also important to know that Equity Mutual Funds are best for investors willing to stay invested for the long term.
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The weekly breakout for Nifty 50 Index which was confirmed last Friday has acted as a major catalyst for sustainable upmove with potential target of 19867 in the near term.
We expect buying in banking stocks to accelerate further after Bank Nifty clears 41829 which turns out to be all time high.
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The consistent FII buying in the past few days has created solid cushion for Indian markets which may force Indian markets towards all-time high in coming days.
Any gap down is likely to see follow-up buying as Nifty 50 has already confirmed weekly breakout which ensures significant higher closing in the coming week.
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We expect major short covering above 18000 with expectation of Nifty taking out its all-time highs in coming days. One can average long positions above 18000 with Bank Nifty expected to drive higher towards 42000.
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