Auto stocks data release for previous months, crude oil price, currency movement, global trade war may decide the market this month.
Indian market is required to exchange a range-bound way with a negative inclination in the close term as speculators will embrace a hazard off approach on worries of worldwide exchange strains, rising oil costs and large scale stresses.
In addition, a great rainstorm, better GDP development and proceeded with stream of local cash will top drawback, he stated, including that any security in oil costs and rupee will convey some relief to business sectors.
PMI information for the mfg and service sector would likewise impact exchanging supposition this week, different specialists noted. Oil remains a key deciding element for the market course while other numerous headwinds like expansion and financial way would be distinctly viewed by the members, Nair said.
“Instability is probably going to stay, infer able from negative worldwide signs and additionally local factors, for example, races, weight on CAD and financial shortfall from higher unrefined costs,”
Auto stocks would likewise stay in center this week in the midst of month to month deals information declaration. Many company results to be started to declare from this month, so it may also react accordingly in market.Last week, Fortis Healthcare extended its bidding process till July 3. July 5 will be quite crucial day for the market as Reliance Industries will conduct its annual general meeting.
Escorts, Maruti, Bajaj Finance, Reliance, Fortis and some other stocks may be active this month, Many companies are ready to announce Dividends, Board meetings, AGM, Results and many factors to be watched this month. Intraday trading for this month may be range bound, so entry and exit may should decide technically.
In addition, markets would likewise track Federal Open Market Committee (FOMC) minutes on Thursday.