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Last Updated : Jul 13, 2020 08:09 AM IST | Source: Moneycontrol.com

Slideshow | Stay cautious! How market will trade this week as per experts

Here are experts' view on how market will trade this week

Market ended higher for the fourth consecutive week ended on July 10 amid volatility due to rising Covid cases in India and worldwide. In the last week, Sensex rose 572.91 points to close at 36594.33, and Nifty50 added 160.65 points to end at 10768 levels.

The market ended higher for the fourth consecutive week which ended on July 10 amid volatility due to rising COVID-19 cases in India and worldwide. In the last week, Sensex rose 572.91 points to close at 36594.33, and Nifty50 added 160.65 points to end at 10,768 levels.

Vinod Nair, Head of Research at Geojit Financial Services | The outlook for the market is volatile as the earnings announcements have begun after a washout quarter for most industries. This uncertainty combined with profit booking happening after the recent rally, means that the volatility is expected to continue in the markets and investors would do well to be cautious and stock specific in this market.

Vinod Nair, Head of Research at Geojit Financial Services | The outlook for the market is volatile as the earnings announcements have begun after a washout quarter for most industries. This uncertainty combined with profit-booking happening after the recent rally, means that the volatility is expected to continue in the markets and investors would do well to be cautious and stock specific in this market.

Nagaraj Shetti, Technical Research Analyst, HDFC Securities | The short term trend of Nifty is range bound with weak bias. The overall daily/weekly chart pattern indicate a possibility of reversal in Nifty around 10800 levels in the coming week. Beginning of decline from the highs is likely to bring bears into action. Important supports to be watched for the resumption of weakness is at 10700. Any upside bounce could find stiff resistance around 10800-10850 levels.

Nagaraj Shetti, Technical Research Analyst, HDFC Securities | The short-term trend of Nifty is range-bound with weak bias. The overall daily/weekly chart pattern indicates the possibility of a reversal in Nifty around 10,800 levels in the coming week. Beginning of decline from the highs is likely to bring bears into action. Important supports to be watched for the resumption of weakness is at 10,700. Any upside bounce could find stiff resistance around 10,800-10,850 levels.

Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services | The June quarter earnings season started with TCS reporting numbers below estimates. This earnings season would be of key significance as it faced the maximum brunt of lockdown. Thus management commentary would be keenly watched out for and could keep the markets volatile in the near term. We would advise traders to stay cautious and keep booking profit at regular intervals and focus on stock specific action.

Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services | The June quarter earnings season started with TCS reporting numbers below estimates. This earnings season would be of key significance as it faced the maximum brunt of lockdown. Thus management commentary would be keenly watched out for and could keep the markets volatile in the near term. We would advise traders to stay cautious and keep booking profits at regular intervals and focus on stock-specific action.

Sensex slide

Ajit Mishra, VP - Research, Religare Broking | In the coming week, participants will first react to the macroeconomic data and then focus would again shift to the earnings announcements. Needless to say, global cues and updates related to COVID-19 will also remain on their radar. We suggest limiting aggressive bets at current levels and awaiting clarity over the next directional move. As of now, the Nifty index is likely to trade within 10,500-10,950 zone next week and expect volatility to remain high on the stock-specific front. We advise traders to keep existing leveraged positions hedged while investors should focus on upcoming earnings announcements for cues.

Sanjeev Zarbade, VP PCG Research, Kotak Securities | We are now beginning to see some fatigue coming into the market as reflected by the selling by FPIs and DIIs. Also, the ongoing earnings season will be one of the most weak ones in many years. In view of this, for short term investors, it makes sense to remain cautious.

Sanjeev Zarbade, VP PCG Research, Kotak Securities | We are now beginning to see some fatigue coming into the market as was reflected from the selling by FPIs and DIIs. Also, the ongoing earnings season will be one of the weakest ones in many years. In view of this, for short term investors, it makes sense to remain cautious.

First Published on Jul 13, 2020 07:22 am
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