Dear Readers Quick recap of the market for the current week is enclosed.( 12th July to 18th July 2021).
Hope You are doing well.
It was a fabulous week for the Indian market. Both Nifty and Sensex made a record highs. This is because of Global Events, declining virus caseloads, increasing vaccinations, and superb results of IT Sector Companies. In this week Nifty rose by 233 points and closed around 15923 levels and Sensex rose by 750 points and closed around 53140 level.
For the Upcoming Week, Traders can maintain a mildly bullish view at least till markets give a decisive close above 15950. However, adding long positions aggressively at these levels might not be prudent. The ideal strategy would be to wait for corrections in the fundamentally sound stocks and invest. In the near term, markets are waiting for 1QFY22 results to gauge the impact of second-wave/local lockdowns, especially for financials, industrials and consumer discretionary sectors.
Market Update: 16th July 2021
Sensex: 53140.06 ▼0.04%
Nifty: 15923.40 ▼0.01%