- Delta variant of Coronavirus had played a crucial role in markets, last week.
- Friday US markets showed a recovery and closed at record highs.
- Immediate support and resistance for Nifty 50 are at 15,600 and 15,800 respectively.
- I am expecting a bullish/sideways market, if Nifty doesn't breakdown below 15,440.
- Global Cues indicates a gap-up opening in Nifty, Monday.
Key Factors to watch
- IIP and Inflation Data:- IIP and Inflation Data for the month of June will announce this week.
- Zomato IPO:- Zomato IPO will hit the primary markets on July 14.
- Dollar Index:- The Dollar Index was high of about 3-4 months.
- Rise of Covid cases:- Last week had witnessed a fall due to rise of Delta variant covid cases. Watchout for increase in covid cases this week too.
- Major Q1 results:-
- Wipro
- Infosys
- HDFC Bank
- Stock in News
- Heritage Foods Ltd.
- Parag Milk
- Hatsun Agro.
- The Ugar Sugar Works Ltd.
