Looking back on Wednesday's A-share market, A-share ushered in a retaliatory rebound.. In the morning, the overall trend of A-Shares fluctuated weakly. The Shanghai and Shenzhen stock markets opened low, followed by repeated shocks, and the stock index rose again near noon; In the afternoon, Contemporary Amperex Technology Co.Limited(300750) and other powers rose significantly, driving the three major stock indexes to further attack, and the strong pattern was seen at a glance.
As Central China Securities Co.Ltd(601375) mentioned, on Wednesday, the A-share market first suppressed and then rose, rebounded sharply, and the stock index broke through the integer mark of 2900 points in one fell swoop. With the full release of market risks, the strong promotion of many favorable policies, the rhythm of OTC funds entering the market to do more is accelerated, and A-Shares are expected to usher in a strong rebound, it is suggested that investors pay close attention to the changes of policies and funds .
The agency further analyzed that it is expected that the short-term shock rise of the Shanghai index is more likely, and the short-term rebound of the gem is more likely. Investors are advised to focus on investment opportunities in new energy, semiconductor, aerospace and military industries in the short term, and continue to focus on investment opportunities in undervalued blue chips in the middle line.
From a technical point of view, Soochow Securities Co.Ltd(601555) pointed out that the adjustment of Shanghai Stock Index accelerated after breaking 3000 points, which also brewed the power of short-term oversold rebound, 3000 point support turned into pressure after breaking, and the short-term rebound needs to pay attention to this position to see whether . From the perspective of the general trend, it is still in the decline cycle, but the trend is similar to the bottom building stage of repeated wide shocks in the second half of 2018. Before the trend is reversed, it is better to be cautious and pay attention to the grasp of the operation rhythm.
In terms of the future market, Guosheng Securities said that is approaching a small and long holiday, and the uncertainty of the peripheral market may lead to the rebound will not be achieved overnight. 3000 points is expected to become the first important resistance to test the quality of this round of rebound. Before the Festival, we should carefully catch up with , and it is suggested to maintain a balanced allocation of growth slightly greater than value in investment.
In terms of configuration, before the effective upward breakthrough in the market, we should still control the overall position and be suitable for low absorption. "Stable growth" will become the main logic driving the operation of the market. We should pay attention to the undervalued, offensive and defensive traditional infrastructure such as banks and real estate, building materials, wind power, photovoltaic and other new infrastructure. It is suggested to properly layout the theme sectors such as logistics, airports and hotels in combination with performance and cost performance.
However, Shanxi Securities Co.Ltd(002500) believes that under the general environment in which the negative factors at home and abroad have not been completely cleared, the valuation of A-Shares continues to be under pressure, the market sentiment is low, and the repair will take some time. Although the market probability is very close to the medium and long-term bottom position, the bottom grinding stage is unlikely to end soon, and the rebound process will still be twists and turns, At this stage, it is suggested to focus on the large cap value stocks , which have better defense ability and valuation repair space. At the same time, the recovery expectation after the epidemic is forming. It is suggested to continue to pay attention to the recovery of supply chains across the country. In the short term, the oversold growth sector is more likely to be concerned by the market.
In the macro aspect, Western Securities Co.Ltd(002673) mentioned that the negative impact of covid-19 epidemic on the production and operation of industrial enterprises and the supply chain is gradually emerging if the current round of epidemic can be controlled in May, we judge that the second quarter will be the bottom of the economy of the whole year . With the recent implementation of relevant policies such as promoting consumption and strengthening infrastructure, as well as the application of structural monetary policy tools such as refinancing in the rescue of industries and enterprises, it is expected that the follow-up steady growth policy will continue to increase, and the expansion of downstream demand such as consumption and infrastructure is expected to support the gradual stabilization of the revenue of industrial enterprises.
In terms of operational strategy, China International Capital Corporation Limited(601995) said that currently focuses on three directions : 1) in the "bottom grinding" stage of the market, the steady growth sector with relatively low valuation may still have relative benefits in the current macro environment, such as traditional infrastructure, real estate steady demand and related industrial chains (real estate, building materials, construction, home appliances, home appliances, etc.);
2) for the consumption in the middle and lower reaches with many adjustments in the early stage, low valuation and clear medium and long-term prospects, choose stocks from bottom to top, including household appliances, light industry and household appliances, automobiles and parts, agriculture, forestry, animal husbandry and fishery, medicine, etc;
3) risks in the manufacturing growth sector, including new energy vehicles, new energy and technology hardware semiconductors, have been released, but the turnaround lies in the marginal improvement of "stagflation" risk, global liquidity and market sentiment.
rebound what to buy Shenyin Wanguo Securities put forward suggestions, first grasp the immediate improvement situation. First, the Fed tightened its expectations and fulfilled the transaction, corresponding to the repair of oversold technology manufacturing. The short-term cost performance of power equipment, national defense and military industry, electronics and computers is very high, and the gem is very high compared with the CSI 300. In the rebound, scientific and technological growth is a more elastic direction.
Second, the "policy base" of epidemic mitigation superimposed twice is also accelerating to be fulfilled, focusing on consumer goods (Baijiu and medical beauty) with only epidemic logical defects. The steady growth policy catalyst is more certain to be infrastructure, building materials and buildings, and coal is still favored in the medium term. This opportunity will be gradually launched with the subsequent policy catalysis and effect verification, which is expected to go in a more stable and longer direction.
