Market Outlook July: Going ahead, Indian equity markets are expected to remain volatile this month due to fear of global tensions. The focus of investors will be on trend in global stock markets and crude oil prices. Any fluctuation in the rupee versus the dollar is also expected to lend direction to the equity markets. The focus will also shift to the progress of the monsoon and the Apr-June corporate earnings. The corporate earnings season begins this month with IT blue-chip Infosys announcing its Q1FY19 results on July 13. Further, Q1FY19 corporate earnings, macroeconomic data, US FOMC meeting minutes, ECB monetary policy, BOJ Monetary Policy, FIIs and DIIs trend, bond yield, rupee-dollar movement and crude oil prices are the major factors will also remain on investors' radar.
In this issue:
- Movers & Shakers
- Market Outlook
- Nifty Technical Outlook
- Technical Stock
- Fundamental Stock
- Auto Sales
- Commodity Pick
- Mutual Fund
Nifty Technical Outlook July: The current price action on the monthly chart has formed two consecutive narrow range body formations which suggest indecisiveness prevailing at current level.
In coming month if Nifty trades and close above 10783 levels then it is likely to test 10883 – 10984 – 11100 levels. However, if Nifty trades and close below 10664 level then it can 10544 – 10444 – 10327 levels.
Broadly, we are of the opinion that for current month 10540 is a make or break level. If Nifty holds 10540 levels, there is high probability that Nifty may test 10883 – 10984 - 11100 levels. Hence one needs to keep a bull stop at 10540 for all long positions.
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