There are few big event set for the next week like RBI policy, quarterly result of some big corporate,auto sales and new listing. There are also some global event which can influence the domestic market like Japan interest rate and unemployment rate for June,China's PMI data,Nikkai Manufacturing PMI data and US FOMC policy meeting. With so many events the coming week is expected to be highly volatile.
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| Week ahead at Share Market |
Though FII's were buyers in the domestic market last week which is positive sign for the market DII's were seller. We can expect a comeback for FII's in the domestic market.
There was a massive correction in midcaps, small caps and PSU sectors in the last six to seven months, hope the correction is now bottom out. Last week as we have seen a strong pullback rally in midcap,smallcap,PSU, FMCG sectors, it may continue in this week also because of strong PSU bank earnings and RBI policy. The IT sector which has seen strong momentum in last few months is in correction mood.
The Nifty which closed at 11278.35 would find difficult to go above 11305 and Bank nifty which closed at 27634.40 would can go up to 27700 but would find difficult to move above 27700. All levels are in spot.
Next week around 400 plus companies will declare their earnings the top companies are HDFC, Tata Motors, ONGC, Tech Mahindra, Axis Bank.
As per my view "week ahead for the share market" will be highly volatile and may correct or pause the current momentum, hope you guys agree with me and please share your views.
