Market View: 2-6 JUL 2018

Filed in Market Update by on July 2, 2018

 

Week Market View: 2-6 JUL 2018
View Last week the NIFTY closed at 10714.30 registering a gain of 1% over previous week. The index witnessed a sharp reversal on Friday from the bearish trend made in last two trading sessions. Lot of selling pressure was seen the last week due to volatility in the rupee, fluctuations in crude, corrections in midcaps and trade tensions between US and China. This week the volatility is likely to continue for some more time. Global cues will dominate the market sentiments as the focus will tend to shift to June earnings. The markets will start take cues from the earnings season. NIFTY will take major support at 10600 and will face resistance at 10800. Please be patient and disciplined with all your existing positions and stay away from the markets for this week. We would like to wait for a clear bullish signal before we proceed. All the best!

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