Added: Arsenio Laney - Date: 30.07.2021 08:57 - Views: 40317 - Clicks: 3714
Even as we saw profit booking in Afternoon Trade, the broader markets remained fairly vibrant as savvy investors were seen shopping across a host of B2C businesses.
The coming week will be tactically important for the market. The Nifty will see the levels of 15, and 15, acting as resistance points; the supports come in at 15, and 15, With the indices hovering around new highs, the market has not only lured retail participants to invest out of FOMO but also persuaded promoters to come out with IPOs to get handsome prices for their shares, taking advantage of the bullish market sentiment.
Nifty50 ended the first six months of with over 12 per cent gains, the best opening half performance sincedespite a devastating second wave of Covid infections, renewed lockdowns and a mini taper tantrum in the US Treasury market.
The recent market rally despite a raging second wave of the pandemic has led some to suggest that the bull market may be entering its middle or late cycle, implying that an eventual end is nigh. Despite the relentless incremental rise, the market, in general, is also sending out several warning s.
The breadth, or the internal strength of the market, remains weak. The lead indicators continue to show ongoing bearish divergences against the price. While equities continued their joyride, a different narrative is doing the rounds in the commodity space.
The rally in metals, which started back inhas come to a halt. Nifty has to hold above 15, zone to witness a bounce towards 15, and 15, levels, while on the downside, support can be seen at 15, and 15, levels. The support exists at 15, and 15, levels. The trading range for the Nifty has technically gotten wider following the action over the past couple of sessions. The stock market is factoring in a lot of future earnings growth and the uncertainties due to Covid might puncture some of those expectations to a certain extent.
The markets may see a mild pullback, but inherent structure remains weak, and this may cause the markets to trade with a corrective intent. The levels of 15, and 15, will act as resistance; supports will come in at 15, and 15, levels.
The levels of 15, and 15, will act as resistance points, while support will come in at 15, and 15, The immediate resistance levels for Nifty50 are 15, and 16, while key support levels for the index are 15, and 15, said Mohit Nigam, Head- PMS, Hem Securities.
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Book profit in metals on every rise 26 Jun, Trade setup: Nifty resistance seen at 15, levels; protect profit at higher levels 21 Jun, Is liquidity driving markets away from reality? Trade setup: Nifty immediate resistance seen at 15, and 15, levels; avoid aggressive bets 18 Jun, Trade setup: Nifty may correct more if it fails to reclaim 15,; upside appears limited 16 Jun, Trade Setup: Risk-reward ratio extremely unfavourable; avoid aggressive buying 13 Jun, Inflation s, IPO season among key factors that may guide market this week 13 Jun, Intraday volumes drying up fast, Nifty up for some consolidation 12 Jun, Browse Companies:.Nifty short stories
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