WEEKLY Market UPDATE: Quarter results to drive the market

#Niveza #Review on Market Updates ::

Indian markets found better recovery after Britain exit correction. Over the market, stocks individually have performed well. Sentiments are purely on the positive side ahead of the GST bill optimism. Brexit correction have given better buying opportunity for the investors and again some correction could be possible. Profit booking again can find some buying pressure. 7th Pay Commission have injected the equity market as well with banks, infra and auto favorites. Indian manufacturing activity edged up to a three-month high in June, driven by stronger demand, but firms barely raised prices, a private survey showed, leaving the door open for another rate cut by the central bank this year.

Foreign investors brought in over Rs 3,700 crore into Indian stock markets in June, taking the total to more than Rs 20,600 crore so far this year, mainly on hopes of a good monsoon. It follows a staggering inflow of more than Rs 32,000 crore in preceding three months (March-May). Foreign portfolio investors (FPIs) turned net buyers of equities in March after pulling out a massive Rs 41,661 crore from the market in the previous four months (November-February).

Five days after the United Kingdom voted to leave the European Union, there is a clear pessimism with respect to global financial situation. Brexit will have a negative impact on short and medium-term impact on the UK's growth rate. There are also fears that some European countries like Scotland may call for a similar referendum and thus the EU stands to get dismantled if countries call for such referendum.The British exit from EU triggered the jittery move across the financial market and impact of such decision created the global mayhem. The last week price action resulted into ‘High wave’ candle indicates indecision.

Stocks to watch: NOCIL is on the upside while Bharti Airtel is on the downside.

Source :: Stock Market Tips

 

Last trading session ALLAHBAD BANK has shown a good upside move with an increase around 8% and is trading in bullish rally on daily chart for this it is expected to touch resistance level of 80. So we advise to buy ALLAHBAD BANK above 76 for the targets of 77.50 78.50 with the stop loss below 74.80.