InvestorQ : What is your view on the markets for 30 June 2021 and do you expect a bounce on Wednesday?
vaishnavi mhatre made post

What is your view on the markets for 30 June 2021 and do you expect a bounce on Wednesday?

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diksha shah answered.
3 weeks ago
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On Tuesday, the Nifty failed to hold on to higher levels and remained weak for a better part of the day and ended nearly 70 point slower at close. The advance / decline ratio, which measures the breadth of the market, remained unfavourable at 14:36. It does look like the stimulus package does not appear to have excited the markets beyond a point.

The big focus will be on the core sector data on Wednesday which will be closely tracked by the analysts and the traders. The market is expecting sequential growth in the month of May and that should be a good signal that growth is actually picking up in manufacturing in the post COVID 2.0 scenario. The good news is that VIX continues to remain below 12.

Foreign investors were net buyers to the tune of Rs.116 crore on 29 Jun while domestic institutions infused Rs.1,810 crore on Tuesday. In global cues, the US markets were flat to positive while Europe was also not too decisive. In early trades, the SGX Nifty is trading positive and that should be the opening trend.

The markets need a real reason to bounce and with the results season ending on Wednesday for the March quarter and the full year, the focus will shift to the June quarter results. For now, we have to put up with a range bound markets but with limited downside risk due to weak VIX figure.

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