The market for the past few days has been in bit of a no man's land . NIFTY has been struggling to breach 8700 and move higher . The earnings has been good so far . Global markets are stable with an upward bias. After all Oil is now stabilized above USD 50 , with some demand supply balance emerging .
We may see NIFTY trying to move up today . Traders should remain long unless NIFTY closes below 8550 .
We will come with the list of stocks to buy during this Diwali in the next few days .
As we scan the mid cap small cap names , it is surprising to see so many small companies with the right triggers to grow big .
Tata stocks will be in focus today . With the change in the top management at Tata Sons there may be some knee jerk reaction in the stock prices .
Any such fall will be an opportunity for investors to buy these stocks . Some of stocks investors should keep an eye on are Tata Chemicals , Tata Global Beverages , TCS and Tata Motors .
Tata Steel will may also see some interesting news flows in the next few months .
Watch TOI for the next market trigger
In India TOI stands for Times of India , one of the most popular newspaper . However in this case it is Trump , Oil and Interest rates ! This new TOI is the key driver of the Equity market for the next one month .
Trump : The market has never faced anything like Trump . He is disruption personified . Is the market prepared for a Trump win . No as it cannot factor in such an event . The market is very bad at pricing in unpredictability .
Oil : Just when we convinced ourselves that we will have cars running on solar power batteries if not on wind power, Oil recovered from its lows . Those who thought Oil is headed towards 15 tweaked their prediction to 51 !!! The oversupply situation continues , however with Opec and Russia coming together , the story of supply side actions looks more credible .
Interest Rates : Will US raise interest rates this year . As conflicting indications from the Fed keeps us guessing the market will remain volatile based on the news flow.
China : If TOI is not good enough , look at China . China growth numbers will be competing with the other three factors to influence the market direction .
Prepare for some volatility on INR /USD . On NIFTY day trades can go long with strict stop losses. Take your profits on previous Short positions .