On Friday, Nifty fell 225.10 points or 0.9% to end the day at 24,837.
Respond to the action of the day, Rupak de, senior technical analyst at LKP Securities, said that the Nifty remained under persistent sales pressure when the index slid under the crucial level of 24,900. Moreover, it is closed for the first time in various sessions under the 50-day exponential advancing average (50 EMA), which indicates a meaningful weakening of the current trend, he added.
“If the Nifty does not run back in the next session or two levels, Bulls can be confronted with considerable challenges in the short term. On the other hand, support is immediately seen at 24,700, followed by 24,500. At the top, resistance is now placed around 25,000,” said the de.
Factors that probably influence the movement when the markets reopen this week:
1. FOMC meeting
A most important Federal Open Market Committee Meeting (FOMC) starts this week on Tuesday 29 July. FED chairman Jerome Powell will provide insight into the opinion of the Central Bank about the American economy, inflation and impact of rates. The result will be announced on July 30 and the interest will probably remain unchanged.
2. Deadline rate ends
Global markets will be careful for developments at the rate, since the deadline of August 1 is over this week.
3. American markets
The action on Wall Street will give instructions to the global markets, including India. Apart from the meeting and rates of the Fed Rate Setting Panel, the best American companies such as Meta will announce their income from the second quarter.
The US stock markets ended in the Green on Friday. The Dow 30 ended the session at 44,901.90 and won 208.01 points or 0.47% while S&P 500 established at 6,388.64, an increase of 25.29 points or 0.40%. The Nasdaq composite closed at 21,108.30, with 50.36 points 0.24%.
4. Q1 income
Adani Green Energy LTD, Adani Total Gas, Bharat Electronics, Cartrade Tech, Mazagon Dock Shipbuilders, NTPC Green Energy, Railtel Corporation of India, Interglobe Aviation, Daburs Motors, Swiggy, Swiggy, Swiggy, TvaTwik, PowerS and PowerSs and PowerSs and Pewigs, and Pewigs, PowerSwik, PowerSwik, PowerSwik, PowerSwik, PowerSwik, PowerSwik, Pewiks, Pewiks, Pewiks, Pewiks, Pewiks, Power Wiks, Power Wiks, Power Wiks, Power Wiks, Pewiks, Power Wiks, Power Wiks, Powerwik. Power Company.
Among the handy companies are Bharat Electronics (BEL), Indusind Bank, Larsen & Toubro, Tata Steel, NTPC, Coal India, Eicher Motors, Hindustan Unilever (HUL), Mahindra & Mahindra (M&M), Maruti Suzuki India, Titan Intech and Itc.
On Saturday the results of Kotak Mahindra Bank and IDFC Bank were also announced and the shares of these companies will also be in focus.
5. Business promotion
Many business actions have been drawn up this week with record dates for dividends, issues of rights, stock split and bonus shares for more than 100 companies during the five -day trade week.
The companies that will have record dates for the purpose of dividend are DLF, KPIT Technologies, Wipro, Bosch, Evereweady Industries India, Inox Wind, Punjab & Sind Bank, Coforge, Prataap Snacks, Bata India, City Bank, Eicher Motors, Maruti Suzuki Motits.
GTV Engineering has a record date for its stock split and 2: 1 bonus problem. Indian Infotech & Software will have its record date on July 28, Jul has because of its number of shares. Jonjua Overzee will also have his record date on the same day for his 1:20 Bonus problem.
6. IPO watch
Five mainboard problems will be opened for subscription this week, namely. Sri Lotus Developers and Realty IPO, National Securities Depository (NSDL) IPO, M&B Engineering (IPO), Aditya Infotech (IPO) and Laxmi India Finance (IPO).
Also read: Sri Lotus developers IPO’s Latest GMP shows stock list with 21% Premium. Check details
In the SME segment, 8 IPOs will be on the D-Street this week, namely. Repono, Kaytex Fabrics, BDIndustries (Pune), Mehul Colors, Takyon Networks, Cash UR Drive Marketing, Renol Polychem and Flysbs Aviation.
Current problems of Shanti Gold International Limited, Brigade Hotel Ventures Limited and Sellowrap Industries Limited will also be closed this week.
7. BE / DII ACTION
Market promotions will rely on how foreign institutional investors (FIIS) behave. On Friday, FII’s shares worth RS sold 1,979.96 crore, while the domestic institutional investors (Diis) were net buyers on RS 2,138.59 crore.
After they have remained net buyers in the last three months, FIIs are so far net sellers in July on RS 6.503 Crore.
8. Technical factors
“The map structure has clearly deteriorated for the bulls. On the daily map, Nifty had exchanged within a rising channel pattern since May.
Moreover, the index was broken below the 50-day EMA, a level that had previously offered strong support. Together these signals suggest the potential for deeper disadvantage, possibly opposite the 200-day SMA, which is located in the 24200-24000 zone. For the coming week, immediate support will be placed near the 89-day EMA at 24650, followed by the 24500 level, which acted as a strong basis during the May-Juni consolidation phase. At the top, the Bearish Gap and the 50dema zone around 24950-25000 now act as immediate resistance, while the 25250 level, the height of the last two weeks, remains a stiff barrier, “said this analyst.
9. Rupee versus dollar
The Indian rupid fell at a low point of one month on Friday and registered his third consecutive weekly decline, put under pressure by the outskirts of local shares and caution among investors prior to a news-heavy week dominated by rates and decisions of the Central Bank. The rupee concluded on Friday at 86,5150 against the US dollar, a decrease of 0.4% on the week. The local currency reached a low point of 86,6250 earlier in the session, the weakest level since 23 June.
The sale of dollars from local private banks, probably on behalf of exporter customers, helped to limit the losses of the rupid, said a trader at a Mumbai -based bank.
The dollar index rose by 0.2% by 97.7, while Asian currencies fell by no less than 0.7%.
The movement of rupee against the dollar will probably be viewed sharply the week, because the Greenback would respond to the FED announcements and rating riggers.
10. Crude oil
The prices of crude oil remain crucial for the stock markets because they can change the inflation dynamics in a country. Oil prices fell sharply on Friday at a low point of three weeks when traders were concerned about negative economic news from the US and China and signs of growing offer.
The American WTI oil contracts ended at $ 65.07, a decrease with $ 0.96 or 1.45%, while Brent Oil Futures waved near $ 68.44, higher with $ 0.79 or 1.14%.
(Input from agencies)
(Disclaimer: recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)
#Fed #Meet #income #Trump #rates #factors #influence #stock #markets #week