InvestorQ : What is your trading view for 09 August Monday as a new week begins?
Arusha Ray made post

What is your trading view for 09 August Monday as a new week begins?

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diksha shah answered.
3 months ago
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On Friday, the markets corrected with the Nifty giving up about 56 points, but this comes after a frenzied rally in the Nifty when it settled comfortably above the 16,000 mark which was the psychological resistance for last 2 months. That was more due to weekend caution related profit booking. However, the Nifty closed decisively strong at 16,238 levels.

The next week promises to be absolutely action packed for investors. Of course, there are the 4 big IPOs slated for the week, which will collected close to Rs.15,000 crore from markets. Then, there are critical data points like CPI inflation and IIP numbers scheduled for the week. Of course, there are also big results like Tata Steel, ONGC, Coal India, MRF etc.

Foreign investors were again net sellers on Friday worth Rs.69 crore but the selling was quite marginal. Remember that FPIs had infused Rs.5,000 crore just on Tuesday and Wednesday, so this is understandable. Domestic institutions sold Rs.631 crore of equities on Friday, but the big story for this week will be how the FPIs react to the IPO flows.

International markets were mixed on Friday. Dow was up 144 points while NASDAQ closed with losses and Europe was in the positive. SGX Nifty is trading in the negative by about 35 bps in early trades. However, this could change drastically after the market opens. After a smart rally last week, this could be a week of consolidation in the markets.

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