Posted By : Kishore B.S
MARKET OUTLOOK 4-07-2014
The mood is extremely optimistic going into the Budget. But for investors what would be the recommendation be? To buy post Budget or Pre Budget?
It is very clear according to us if Nifty closes near 8000 before Budget then its very difficult for Nifty to rally on Budget day, if Nifty closes near 7600 before Budget then the target for Nifty after Budget is 8000.
We do not expect Nifty to trade at 8300 or 8500 because of its valuation. If the valuation do not support Nifty, then rapid profit booking may be seen hence we recommend not to buy around 8200 or 8300.