Market View: 18-22 JUN 2018

Filed in Market Update by on June 18, 2018

 

Week Market View: 18-22 JUN 2018
View Last week the NIFTY closed at 10817.70 registering a gain of 0.46% over previous week. The gain could be attributed to stabilization of crude prices and hopes of a good monsoon. However weakening rupee, US-China trade war fears, picking up inflation are confronting the markets in its up move. The FOMC too hiked the interest rates by 25bps which was not a very positive sign. This week the markets are likely to consolidate further. Given the lack of domestic triggers, investors will shift their focus to the June quarter earnings. A lot would depend on the global triggers now. Stock specific action would be seen amidst volatility. If NIFTY gives a breakout above 10900 that would let it rally till 11100. Similarly a close below 10700 should bring us on the sidelines. Let’s wait and watch. All the best!

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