Market on Dec 09, 2024

Daily Journal: Q3 results season begins. This will be the main trigger for the direction of the markets now. The next big trigger would be Budget 2025. US markets had a muted session yesterday. Futures are trading in red. 10Y Bond Yield is at 4.6%. Brent Oil is at 76$. Dollar Index is above 108. Asian markets are mixed. Global cues look weak even today. No improvement in macro indicators. The only way we can see some recovery in the Indian markets is by posting good Q3 numbers. If the government announces good growth incentives in the budget, then also we can see some recovery. We saw some recovery in the Nifty from 23500 zone in yesterday’s session. But my view on the market continues to remain CAUTIOUS and there is a high possiblity that all the rallies will be sold into. But this is a good time to gradually infuse fresh capital in the markets from 2-3 years perspective. This is only a short term pain.