Market Outlook - Microsec Research

Indian market may trade volatile after corrections last week as political events instil fear among investors of further deteriorating economic conditions. Though better than expected GDP numbers gives some confidence, it may be too early to call it a trend. Also the monthly auto data are expected in the week whose outcome likely to have effect on the auto stocks.

The ECB will hold its monthly meeting regarding policy decision is scheduled on September 06 is to watch for. However, in the current scenario buying in defensive stocks may be the right strategy.

We remain positive on Glaxosmithkline Consumer, Exide and LICHF at the current price and investors should initiate buying in TCS, Cadila, HUVR, Pidilite on dips.

Source : Equity Bulls

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