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Slideshow | Check out experts' views on market for this week

Here are experts' views on the market for the upcoming week.
Jul 27, 2020 / 07:55 AM IST
Sensex_BSE_NSE_Stock market
Market continued to rally for the sixth straight week with Sensex and Nifty rising 3 percent and 2.7 percent, respectively, supported by corporate earnings and firm global markets.
Sensex
Rohit Singre, Senior Technical Analyst at LKP Securities | Index is in V-shape recovery if we will look at weekly chart, going forward 11k mark became good support and holding above 11k mark index can see current momentum to be continue towards immediate hurdle zone of 11,300-11,400 zone. Nifty Bank closed a week at 22,675 with gains of more than 3 percent, now immediate support for Nifty Bank is coming near 22,400-22,200 zone and resistance is placed at 22,800-23,000 zone and above 23k mark we may see again good move in Nifty Bank.
Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments | We need to get past the 11,250 mark on a closing basis to witness further upside. On the downside, we would need to break 11,050. In the current scenario, the bias is on the upside.
Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments | We need to get past the 11,250 mark on a closing basis to witness further upside. On the downside, we would need to break 11,050. In the current scenario, the bias is on the upside.
Shabbir Kayyumi, Head of Technical Research at Narnolia Financial Advisors | Immediate support is provided by a line of polarity & 200 DMA near 10,800 marks. Every dip will be called correction; however, DTC (Down Trend Continuation) leg will give confirmation only below 10,580 marks till then one can opt for buy on dip strategy. Nevertheless, the crucial resistance zone on the higher side is near 11,600 provided by swing pivots & un-filled gaps. However, one needs to be cautious on a decisive move below 10,800 which will be an early sign of trend reversal.
Shabbir Kayyumi, Head of Technical Research at Narnolia Financial Advisors | Immediate support is provided by a line of polarity & 200-DMA near 10,800 marks. Every dip will be called correction; however, DTC (Down Trend Continuation) leg will give confirmation only below 10,580 marks till then one can opt for buy on dip strategy. Nevertheless, the crucial resistance zone on the higher side is near 11,600 provided by swing pivots & un-filled gaps. However, one needs to be cautious on a decisive move below 10,800 which will be an early sign of trend reversal.
Ajit Mishra, VP Research, Religare Broking | In the coming week, schedule derivatives expiry of July month contracts combined with the on-going earnings season would keep the volatility high. A long list of prominent names like Kotak Bank, Tech Mahindra, Bharti Airtel, Ultratech Cement, Dr Reddy, Maruti, HDFC, Reliance, IOC and SBI will be announcing their numbers during the week along with several others. Apart from the above events, global cues and updates related to the COVID-19 will also be on the participants’ radar. Though the benchmark is gradually inching higher with every passing week, the participation is largely limited. Also, the Nifty has now reached closer to the major hurdle of 11,350 and the oscillators are looking stretched.
Ajit Mishra, VP Research, Religare Broking | In the coming week, schedule derivatives expiry of July month contracts combined with the on-going earnings season would keep the volatility high. A long list of prominent names like Kotak Bank, Tech Mahindra, Bharti Airtel, Ultratech Cement, Dr Reddy, Maruti, HDFC, Reliance, IOC and SBI will be announcing their numbers during the week along with several others. Apart from the above events, global cues and updates related to the COVID-19 will also be on the participants’ radar. Though the benchmark is gradually inching higher with every passing week, the participation is largely limited. Also, the Nifty has now reached closer to the major hurdle of 11,350 and the oscillators are looking stretched.
Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities | The market is definitely ready for a correction in the short term and we advise to avoid taking long positions.
Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities | The market is definitely ready for a correction in the short term and we advise to avoid taking long positions.
Nagaraj Shetti, Technical Research Analyst, HDFC Securities | There is a possibility of profit booking in the next week. The short term trend of Nifty is range bound with positive bias. Having placed at the hurdle of 11,250, there is a possibility of minor downward correction by early next week. A sustainable move above 11,250-11,300 levels could pull Nifty towards 11,550-600 in the next 1-2 weeks. Important lower support is placed at 11,100-11,050.
Nagaraj Shetti, Technical Research Analyst, HDFC Securities | There is a possibility of profit booking in the next week. The short term trend of Nifty is range bound with positive bias. Having placed at the hurdle of 11,250, there is a possibility of minor downward correction by early next week. A sustainable move above 11,250-11,300 levels could pull Nifty towards 11,550-600 in the next 1-2 weeks. Important lower support is placed at 11,100-11,050.
Rakesh Patil
first published: Jul 27, 2020 07:55 am

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