Dear Readers Quick recap of the market for the current week is enclosed.( 13th June to 20th June 2021)
Hope You are doing well.
The Indian market snapped its four-week winning streak to close in the red on June 18. The Sensex fell 0.25 percent, the Nifty50 was down 0.73 percent and a big selloff was seen in the broader markets during the well.
The market is likely to remain volatile in the coming week ahead of the June monthly F&O expiry on June 24. The immediate support to watch out for would be 15,450-15,550, while on the higher side, 15,800-15,900 will act as resistance.
The market is largely weighed down by the early withdrawal of monetary stimulus by US Fed which impacted global liquidity & which in turn may impact the global equity markets, including Indian market.
As the second wave started receding towards the end of last month, states have been relaxing curbs and mobility restrictions across India, which has been the primary driver of economic trade activity picking up. Also, the consumer-side of demand is starting to pick up as people moved on to reallocate their savings and funds towards normal spending. We think a 3-4 percent correction will be healthy in the near time and investors can use the dip to invest in market.
Market Update: 18th June 2021
Sensex: 52344.45 ▲ 0.04%
Nifty: 15683.35 ▼ 0.05%