Let me recap what happened last week i.e 14-20 June
Broader Index -Nifty 50 – Bears were the winners for the week, however bulls won only one day for the week ,it was yesterday !
High for the week 11931
Low for the week 11625
Close is 11831
Energy, Metal,IT,Bank,Auto ,FMCG all the sector were down for the last week
Trading direction for coming week – Very Important as it’s Monthly Expiry!
BANK NIFTY – Closed around 30784
What’s my plan for next 5 days –
31270 is the Magic Number for the week for bulls ,above this if they close for a day or two ,they will move towards 31440-500 – From 31500 ,it’s a Rocket mode!
On the downside – 30660 is Magic Number ,below this close for a day or two will move towards 30350-30000
Global Markets are positive
US, European,Asian Markets are Positive for the week
Indian Markets was down due to domestic trigger for the week !
Crude has started moving upwards – one negative trigger for us !
Expectation of Central bank accomodation or support is seen across countries
Federal Reserve,ECB,BOE,BOJ are taking easier stand – that’s a positive for equities markets
India trigger are Monsoon – this next 2 weeks are critical – as of now monsoon is below average
Economy is suffering, All eyes are on Budget July 5 , Big bang reforms are expected from Modi Sarkar2
Any friendly policies towards equity markets – will fuel the markets to trade above all time high
NBFC crisis, Automobile Slump, Consumption downtrend, Infrastructure bottleneck,Fiscal deficit,GST revamp , and manily on agriculture are the few areas of buzz on this budget !
Another issues is Trade war which is taking across US ,China
US next target seems to be India and dragging a cold battle !
Lot of downgrades on individual stocks was rated ,that made stocks to fall massively
There were list of stocks which fell and handful of stocks were up for the week as the sentiment was down !
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