|Market This Week
||Last week, the NIFTY closed at 8521 registering a loss of 1% over last week. With this, the market consolidation has continued. This week the NIFTY is likely to remain volatile as it would mark the derivative expiry for JULY series. To add to this, the markets would react to the weak quarterly numbers posted by the corporates. The sentiments may also get bearish on account of the supreme court’s order to SEBI to go after P-notes to curb black money and prevent tax evasions. This could hurt the FII sentiments a bit in the short term. The monsoon session of the parliament getting postponed, GST not getting tabled, poor monsoons is likely to add fuel to fire. Let’s be cautious for this week and have a stock specific approach. The week is likely to be bearishly biased. NIFTY would take support at 8400 and 8650 would act as an immediate resistance. All the best!