Sensex rally may not sustain, book profit at higher levels; Five domestic market triggers to watch out for

ET Markets Daily Brief | Sat, Jan 07, 2017 | 04:40 PM IST Follow ET Markets

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Tech view: Nifty50 forms bearish candle on daily charts The Nifty50 formed a bearish candle on the daily chart on Friday and traders needs to be cautious if the follow up selling continues below 8,220 zones. The week that was: Sensex, Nifty start 2017 on positive note The BSE IT and TECk indices tumbled nearly 3% and 1.88% respectively. Sugar stocks remained in focus as prices of the commodity have started rising again. Market buoyancy may not sustain, time to book profit at higher levels Significant penetration above 8,300 level of the Nifty50 would further confirm the beginning of a secular bull market rally. Traders should buy stocks on dips.

Interview One to One Faber is not sure about the outlook for 2017 but he has three predictions for the near future. The US economy is not ... Marc Faber, Publisher, The Gloom, Boom & Doom Report

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Market Watch 7 Jan | 04:40PM| SENSEX NIFTY USD/INR GOLD 26759.23 ↓-119.01 8243.80 ↓-30.00 67.96 ↑-0.00 27893.00 ↓-55.00

Gainers Losers 7 Jan, 2017, 04:40PM IST, PTI|View All Company Name Live Price Change (%) Volume High Low Kilitch Drugs(I) Ltd. 51.90 20.00 99555 51.90 44.25 Swiss Glasscoat Equipments Ltd. 166.90 19.99 90327 166.90 142.00 Welplace Portfolio & Financial Consultancy Services Ltd. 86.80 19.97 69549 86.80 72.55

Tweet of the day... IT may not log in great earnings in upcoming quarters

FROM THE NEWSPAPER

Top five domestic market triggers to watch out for in the first 6 months of 2017 The equity bulls are eagerly waiting for favourable announcements from the Finance Minister in the Union Budget, which is scheduled for February 1, 2017. After corp credit, retail loans too may take a hit As per the latest available data, loan growth weakened further to 5 per cent levels in Q3, compared with 9-10 per cent levels in the previous few quarters. View: Banks, IT can help Nifty maintain upmove The market needs follow through action from banks, other index heavy weights. IT stocks need to stop falling as they have a big weight on the index, he says. Strong dollar may lead to capital flight from EMs Even though the dollar has jumped 6% against the euro and 12% against the yen since the US Presidential election, it remains well below its historic highs. Best of the week: Eight strategies that can help you get rich faster  If you are dreaming of accumulating wealth over time, you should opt for proper financial planning and go for a mix of equities and debt instruments.

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