InvestorQ : What in your opinion are the major market triggers and cues for the coming week starting on 21 June?
Mitali Bhutta made post

What in your opinion are the major market triggers and cues for the coming week starting on 21 June?

Answer
image
diksha shah answered.
6 months ago
Follow

Here are some of the major trading cues you need to keep an eye on for the coming week starting on 21 June.

a) Nifty was down 116 points during the week but the actual volatility was much deeper. A lot will depend on the 15,500 levels on the Nifty, which will be a critical support for up move to stay intact. Keep an eye on metals that lost 7% last week for pressure points.

b) The big interest in the Adani story will continue after Rs.175,000 crore in market cap was wiped out in a week. However, the good news is VIX staying subdued at around 14.8 levels and Corona cases falling sharply, giving hints of markets bottoming out this week.

c) Big Q4 numbers for the coming week include ONGC, BDL, BEL, Oil India, NMDC, SJVN, Ashok Leyland, Info Edge, Sobha. FPIs infused Rs.5,850 crore in June MTD and despite the market panic last week, FPIs remained net buyers. That is positive for next week.

d) Brent faced some resistance at $75/bbl but narrowing gap with WTI means that prices could be headed higher and could pose a problem for petrol and diesel prices. It also led to weakness in rupee and that will continue this week, forcing RBI to intervene.

e) The good news is that IPOs are back with a bang with the Rs.800 crore IPO of India Pesticides slated to open on 23 June. It will be a key point to watch along with the listing of Shyam Metalics and Sona BLW IPO slated on 24 June.

f) Finally, the macro data points for the week. With India data out of the say, focus shifts to US data points like Home Sales, Markit Manufacturing, Q1 GDP, Durables orders, jobless claims and Fed stress test. Also focus on BOJ minutes, EU PMI and Jibun PMI.

1 Views