Market to consolidate further; Income, macro data in focus: experts

In the last week, the market ended slightly lower because global signals that did not support, dim the rainfall, and concerns over the third wave of Coronavirus weighed on investor sentiments. Last week, BSE Sensex fell 98.48 points (0.18 percent) ended at 52386.19, while the nifty50 ended 32.4 points lower (0.20 percent) to close at the level of 15689.8. Here are the views of analyst at the market for the coming week:

Ashis Biswas, Head of Technical Research at Capitalvia Global Research | The market continues to witness volatility at the recent swing and remains within reach between 15650 and 15750 (nifty 50). Short-term technical conditions market appears such as consolidation after a recent correction witnessed on Thursday. Meanwhile subject to the evolution of further price action, the market indicates that it is very wise to wait for the decisive breakout above 15800 and technical factors to be improved before going longer on the market. Traders are advised to refrain from building new buy positions until the market sees a further increase and breakout above 15800. Volatility to expand on Friday trading sessions, shows the possibility of changes in trends.

Siddhartha Khemka, Retail Research, Oswal Motoral Financial Services | Nifty has been stuck in 15450 to 15915 which is wider than 28 final trading sessions and decisive directional steps disappeared without follow-up activities. Now, it must cross and hold above 15750 zones to watch the movement towards 15850 and 15915 while on downside support is at the level of 15600 and 15500. The equity market has mostly seen through the Turbulent period in April / May’21 and has shown strong resistance, With trading index near the highest of all time – supported by the best income shipping in decades in FY21 and better FY22 expectations. The main market also saw activity busy with several IPOs marching. The market faces headwinds from the emergence of possible third covid waves, inflation readings that constantly encourage potential levels, and volatility around the US TAPER Fed talks. Today’s rating, although it is not expensive, it is not profitable from a risk-gift perspective. Meanwhile, the balance sheet and cash flow has increased in FY21 because the company tightens costs and deleveraged. Gradual economic unlocking and upgraded backgrounds do offer Bottom-up opportunities. Provision of consistent income. V / S hope is very important for further performance.

Nirali Shah, Head of Equity Research, Samco Securities | Next week will witness the results to start the FY22 income season. When India Inc. saw a stable recovery in the scenery and increased prospects throughout the board, broad-based expectations of Indian colleagues remained high. Despite its favorable sentiment, several shares may witness the vollatility bursts guided by traders. However, a person must protect a low last year in mind, because it can increase YoY growth rates at this time. Investors must consider ordering profits in stocks that are too expensive on every close opportunity.

Ajit Mishra, VP Research. Religare Broking | In the coming week, the market will take a signal from the announcement of income and macroeconomic data, namely IIP & CPI inflation on July 12 and WPI inflation on July 14. In addition, global cues, the progress of the monsoon on the new Covid variant will be carefully monitored by investors. , On the Profit Front, big names such as Infosys, Wipro, HDFC AMC, Mind Tree and Elxsi Tata will announce their number with several others. Nifty witnessed a time-wise correction so far has been traced slightly from its record. Has floated in a wider range of 15,450-15,900 since the beginning of June and is currently trading in the middle of the band. Indications support further consolidation in the future. And, with the start of the income season, we expect volatility to be higher on the stock specific fronts as well.