InvestorQ : How do you see the markets on 29 June? Do you expect markets to bounce back?
shrinidhi Rajan made post

How do you see the markets on 29 June? Do you expect markets to bounce back?

Answer
image
diksha shah answered.
5 months ago
Follow

On Monday, the index Nifty failed to hold on to higher levels as IT frontline stocks saw some profit booking at higher levels after the rally of last week. A/D ratio turned towards the declines at 23:27. The good news is that the VIX is still below the 12 levels and that indicates that downsides are still limited in this market.

The big story in this week will be about the data flows. For example, the markets will be keen to watch sequential PMI, core sector flows and the auto numbers. For now, the stimulus 4.0 package is likely to be good for sentiments, although there are questions on how they will manage the funds and how they will rein in the fiscal deficit.

Foreign investors were net sellers of Rs.1,659 crore on 28 Jun. While they are still net buyers in June, momentum has been faltering. In global cues, the Dow was lower while NASDAQ was higher by about 70 bps each. SGX Nifty is weak in early trades, although the positivity of the stimulus could get factored during the day.

13 Views