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

The markets closed with significant declines this week with most of sectorial indices closing negative. The Nifty was down 2.37% over the week. The CNX Midcap index closed with 3.88% loss, CNX Small Cap lost 4.31% while the Bank Nifty closed with 4.64% loss. The CNX Metal closed with 6.49% loss, CNX Energy closed with 3.23% loss and Realty was down 2.36%. The Auto lost 0.19%, Consumer Durables was down 1.9% and CNX IT closed with 2.18% gains. The top Nifty gainers during the week were HEROMOTOCO, SUNPHARMA, BAJAJAUTO, DLF and INFY while the biggest losers included JPASSOCIATE, AMBUJACEMENT, LT and Jindal Steel.

For Monday July’28, Bench marks Index Nifty will open on Negative nods and having very Resistance at 5930-5990 and support at 5865-5827 now. For the week nifty range will be 5805-5980 and below 5815 or closing below 5825 we can see 5750-5660 instantly. Major event which highly effected to stock market is RBI POLICY on Tuesday July’29.

Above 6005 or any closing above 5990 will give minimum 100-150 point rally in day or two days. 5980-6005 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: - HDFC, GLENMARK, GSFC and OPTOCIRCUI

Shares which are trade in bullish mode: - SAIL, TECHM, TATAPOWER, and ARVIND