InvestorQ : What is your view for the markets for Monday 26 July 2021?
Rashi Mehra made post

What is your view for the markets for Monday 26 July 2021?

diksha shah answered.
1 year ago

The markets were quite volatile in early trades with the SGX Nifty down nearly 100 points and that is likely to rub off on the market. FPIs have pulled out nearly Rs.11,000 crore from the Indian markets in the month of July so far and we could almost wipe out the flows of June. Overall, despite the bounce in the Nifty, the range of 15,700 to 16,000 promises to be the range for the Nifty during the day and also for the week.

The support at 15,700 could be tested if the spike in the VIX is too sharp. Of course, Zomato will be the stock to watch after the stellar listing on Friday. It remains to be seen if Zomato tapers on Monday or pulls up further on institutional demand. Banking is another sector to watch after good results from ICICI Bank but concerns over higher loan losses being a worry for most of the banks.

The focus will be on the Axis Bank and Kotak Bank results on Monday as that will give a comprehensive idea about the stress in the balance sheet of banks due to COVID 2.0. Traders must stay in the long side on dips. The only difference is that the mid caps and the small caps may take a break this week and the focus could shift to the largely caps. Adjust your trading strategy accordingly.