Market Outlook For 1st-Week-July
On Friday Markets Closed @ 8380 down by 18 points.
Markets managed to go up by more than 200 points since last 10 days. The momentum also continues to remain on the upside. For past 3-5 days there has been consolidation in the levels of 8280-420. Any close above or below these levels will trigger a next up or a down move.
Global factors will also have an affect on the markets moving forward. If nifty moves above 8450 then it can test the levels of 8620-70 or a move below 8250 can take nifty down to 8100.
The outlook on Bank Nifty Remains to be neutral. If in case Bank Nifty moves below 17800 then this may trigger a 500 point down move, similarly above 18700, Bank nifty can test levels of 19100
For the next week sectors to watch out for are Pharma and Autos which look bullish, Neutral on Banks and IT.
Markets managed to go up by more than 200 points since last 10 days. The momentum also continues to remain on the upside. For past 3-5 days there has been consolidation in the levels of 8280-420. Any close above or below these levels will trigger a next up or a down move.
Global factors will also have an affect on the markets moving forward. If nifty moves above 8450 then it can test the levels of 8620-70 or a move below 8250 can take nifty down to 8100.
The outlook on Bank Nifty Remains to be neutral. If in case Bank Nifty moves below 17800 then this may trigger a 500 point down move, similarly above 18700, Bank nifty can test levels of 19100
For the next week sectors to watch out for are Pharma and Autos which look bullish, Neutral on Banks and IT.
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