[ad_1]
June 13, 2022 / 09:43 AM IST
Yesha Shah, Head of Equity Research, Samco Securities:
The benchmark appears to be moving towards the support zone between 15,900 and 16,100. Despite the fact that this week’s trading patterns suggest additional downside, the overall bearish momentum has moderated as the Nifty trades above the falling resistance line. As long as the Nifty does not fall below 15,900, there is a significant chance that it can test 16,800 levels.
We recommend traders keep a neutral view for the coming week and avoid aggressive trades on either side. Globally, Fed’s interest rate decision as well as the volatility in crude price will keep the market anxious. Back home, the CPI and WPI inflation print will be the main headliner next week. Markets participants will keenly analyse whether the import duty restrictions and rate hikes have had a positive impact on the inflation numbers.
Statistics on India’s trade balance will also be closely monitored as it clocked a record high in May. The movement of the rupee against the dollar will also be watched. Amid increasing macro uncertainties, investors are advised to exercise extreme caution till market decisively find its direction.
[ad_2]
Read More: Market LIVE Updates: Sensex tanks 1,400 pts, Nifty around 15,800; all sectors in the red