Nifty Stance: Neutral
Last week, our markets reacted to the social media posts from Trump that the military activities in Iran may intensify. Our markets fell first and then retraced a portion of their losses.
This week, we ensured the retracement is complete, and we are now trading at a level as seen on the 6th of July, well before Trump’s statements, indicating that the markets have now priced in a status quo on the US-Iran situation.
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The technical indicators are still showing a neutral stance, with a slight hint of bullishness, as the Fast EMA (blue) has crossed above the Slow EMA (green). The crossover is indicated by the green arrow marker on the chart.
The Average Directional Index (ADX) is around 11, indicating a non-directional trend. The moment it goes above 20, we can expect a rally or breakdown. Overall, Nifty has gained 127.4 pts (0.53%) and created a bullish marubozu on the weekly chart (because we started with a gap-down on the 13th).
Important Things to Watch for the Next Week
DISCLAIMER
Investments in the securities market are subject to market risks, including the potential loss of principal. Past performance does not guarantee future results. Information provided is for educational purposes only and should not be considered financial advice. Investors should read all related documents carefully and consult a certified advisor before investing. Registration granted by SEBI and Enlistment with RAASB/BSE and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. The investor is requested to take into consideration all the risk factors before actually trading in stocks or derivatives. The SEBI RIA license INA000021757 & RA license INH000025045 are for Balachandran RV
Last week, our markets reacted to the social media posts from Trump that the military activities in Iran may intensify. Our markets fell first and then retraced a portion of their losses.
This week, we ensured the retracement is complete, and we are now trading at a level as seen on the 6th of July, well before Trump’s statements, indicating that the markets have now priced in a status quo on the US-Iran situation.
Press enter or click to view image in full size
The technical indicators are still showing a neutral stance, with a slight hint of bullishness, as the Fast EMA (blue) has crossed above the Slow EMA (green). The crossover is indicated by the green arrow marker on the chart.
The Average Directional Index (ADX) is around 11, indicating a non-directional trend. The moment it goes above 20, we can expect a rally or breakdown. Overall, Nifty has gained 127.4 pts (0.53%) and created a bullish marubozu on the weekly chart (because we started with a gap-down on the 13th).
Important Things to Watch for the Next Week
- Quarterly Earnings: Ultratech Cements, PayTM, Bajaj Auto, Adani Transmission, TVS Motor, Indian Hotels, Adani Power, Eternal, Nestle, Adani Green, BPCL, Oracle, Dr. Reddys, United Spirits, Infy, Interglobe, Cipla, Shriram Finance, CG Power, BoB, JSPL, AU Small Fin Bank, IDFC Bank, etc.
- Data points to watch from a domestic perspective: Infrastructure Output, Bank Loan Growth, Deposit Growth, and FX Reserves.
- Data points to watch from a global perspective: UK CPI, EURO Interest Rate Decision, US Jobless Claims, and S&P PMI.
- IPO Listing: Alpine Texworld, SBI Funds Management, and Millworks Technologies on 21st July.
- If Nifty moves up, the resistance levels are 24425, 24613, and 24740. If Nifty falls, the support levels are 24335, 24192, and 23925.
DISCLAIMER
Investments in the securities market are subject to market risks, including the potential loss of principal. Past performance does not guarantee future results. Information provided is for educational purposes only and should not be considered financial advice. Investors should read all related documents carefully and consult a certified advisor before investing. Registration granted by SEBI and Enlistment with RAASB/BSE and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. The investor is requested to take into consideration all the risk factors before actually trading in stocks or derivatives. The SEBI RIA license INA000021757 & RA license INH000025045 are for Balachandran RV
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