The stock markets traded with weakness for the first four trading session of the weak. However, on Friday, the last trading day of the week, they gained some momentum. They traded in a range for most part of Friday but gathered pace over the last one hour or so, Zee Business Managing Editor Anil Singhvi said.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

He said that one must not see the action from the standpoint of indices. There was a lot of action beyond the indices – in the midcap and small cap stocks. This is an indication that the broader markets saw buying activity coming back. The US markets played a significant role in this recovery, he said.

See Zee Business Live TV Streaming Below:

But what is in store when the markets reopen on Monday? The Market Guru Explains the trends and what investors must look out for while deciding to put money into the markets.

Singhvi said that the Global cues will not be much as the stock markets will remain close in the US on Monday on account of its Independence Day holiday. Domestic Markets will largely move on domestic indicators, he further said.

Important Nifty Levels

The Market Guru said that the important support zone for Nifty is in between 15,600 and 15,650 while the important resistance zone is in between 15,850 and 15,900. The markets have to trade between this 300-point range, he further said. The markets are neither ready to go below the support levels nor above the resistance zone.

Important Bank Nifty Levels

He said that the Bank Nifty range is even smaller. The support is in between 34,500 and 34,700. Meanwhile, the resistance level is in between 35,000 and 35,300.

The Managing Editor said that there is, however, a lot of action from mid cap and small cap stocks, that is expected over the next week. This is a clear indication that there is no dearth of liquidity and investors and fund managers are ready to buy in good stocks.

He said that the theme for next week is cash market stocks, mid cap and small cap stocks. The investors and traders should gear-up for the action in these segments. There will be enough stock specific and sector specific action, next week, Singhvi said.

One must focus on these segments, Singhvi advised.

Watch Zee Business Tweet Video Below:

Foreign Institutional Investors (FIIs) were on a selling spree on Friday selling India equities worth Rs 983 cr while the Domestic Institutional Investors (DIIs) bought Indian stocks worth Rs 930 cr.