Monthly

Value plus June 2021



In May 2021, Domestic market moved higher with benchmark Nifty and Sensex Index ending the month with 6.50% & 6.47% profit respectively. However, we have witnessed lockdowns in most parts of the country, the Nifty performed in line with world indices during this period. We had seen decreasing COVID-19 cases in India, and we are likely to see unlocking of the economy in different states gradually which may have some positive impact on sentiment. The corporate results are largely out and are priced in by stocks.



On the sectoral front, Nifty PSU Banks and Nifty Mediahaveoutperformed all other major indices with a higher gain of 18.8% and 15.3% respectively. Some other sectors also have shown positive momentum like Nifty Realty, Auto, Nifty NBFCs, Nifty Private Bank, Nifty Smallcap100 by 9.3%, 8.6%, 7.3% and 7.0% respectively. Comparatively FMCG, Nifty IT, Nifty Metalsand Nifty Pharma have shown apositive movement of 3.7%, 5.6%, 4.2% and 4.0% respectively.

In this issue:

  • Movers and Shakers
  • Market Outlook
  • Nifty Technical Outlook
  • Stock Pick
  • Auto Sales
  • Mutual Fund
  • Key Events
  • Economic Data Wrap Up

On the monthly chart, we are observing a strong bull candle which suggests upside momentum. In coming month if Nifty trades and close above15508 level then it is likely to test 16156 – 16503 – 16908 levels. However, if Nifty trades and close below 15356 level then it can test 15009 – 14662 – 14258 levels. 

At present the monthly trend is up. Hence, near 15009 - 14662 levels is strong support if Nifty holds the mentioned level then it may test 16156 – 16503 - 16908 levels. Hence, one needs to adopt buy on decline strategy as stock specific move is likely to continue.


Tags: Auto SalesKey EventsMutual FundMovers & ShakersMarket OutlookStock PicksNifty Technical OutlookEconomic Data Wrap Up


Arihant's May Investment Newsletter is now available #ValuePlus.
Click here to download full pdf report

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