Market Action for Next Week

Nifty for week, Share market weekly forecast, Market Action for Next Week, Share for next week, major event in next week, Inflation effect on share market

The markets closed with significant declines this week with all sectorial indices closing negative. The Sensex was down 1.6% and Nifty also lost 1.6% over the week. The CNX Midcap index closed with 1% loss, BSE Small cap lost 1% while the Bank Nifty closed with 0.4% loss. The BSE Metal closed with 3% loss, BSE Power closed with 2% loss and BSE Realty was down 0.6%. The BSE Capital Good closed with 0.7% loss, BSE Auto lost 2%, BSE Consumer Durables was down 3.2% and BSE IT closed with 4.8% loss. The top Nifty gainers during the week were ONGC, GAIL, BPCL and HDFC Bank while the biggest losers included Infosys, Wipro, Tata Steel and Jindal Steel.

For Monday July’16, Bench marks Index Nifty will one flat to Negative and having very Resistance at 5275-5290 now. For the week nifty range will be 5150-5280 and below 5110 or closing below 5120 we can see 4760-4720 instantly. Major event which highly effected to stock market is inflation announcement on Monday July’16.

Above 5305 or any closing above 5290 will give minimum 100 point rally in day or two days. 5405-5420 will be key level for next 2-3 months and if Market will cross these levels and sustain above this, we will change our outlook and strategy for trading.

Outlook is Negative for short term and advice to go short on higher level                              

Share which are trade in bearish mode: - WIPRO, JETAIRWAYS, ALOKTEXT

Share which are trade in bullish mode: - JINDALSAW, HCLTECH, COREEDUTEC