Market Outlook June: Going ahead, the Indian economy will strengthen as the government pushing through several key reforms such as liberalisation of FDI rules in key sectors, July rollout of the Goods & Service Tax (GST) and a national bankruptcy code which will improve growth in long term. Further, expectations of good monsoon, banking sector reforms, RBI monetary policy which will be scheduled on 7th Jun, 2017 are the major factors which will be keenly watched by investors. On the global front, the US FOMC meeting, European Central Bank (ECB) monetary policy, Japanese monetary policy and BoE Monetary Policy will be keenly watched by market participants. Hence, we recommend investors to invest in good companies with long term horizon.
In this issue:
- Movers & Shakers
- Market Outlook
- Nifty Technical Outlook
- Technical Picks
- Auto Sales
- Commodity Outlook
- Mutual Fund
- Key Financial Events – June
Nifty Technical Outlook June: On the monthly chart, we are observing a bull candle which clearly reflects that momentum on the upside is likely to continue. In the coming month if Nifty trades and closes above 9696 level then it is likely to test 9807 – 9918 – 10047 levels. However, if Nifty trades and closes below 9545 level then it can test 9435 – 9324 – 9195 levels.
Broadly, we are of the opinion that as long as Nifty holds 9435 there is high probability that Nifty may test the 9800 – 9900 in couple of months.
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