Monthly

Value plus July 2021



In June 2021, Domestic markets were flat with benchmark Nifty and Sensex Index ending the month with 0.9% & 1.1%profit gain, respectively. Benchmark indices remained range bound Nifty underperformed with world indices during this period. Unlocking of the economy in different states had some positive impact on sentiment. However; fear of 3rd wave of covid gripped the marketsentiments.



On the sectorial front, Nifty PSU Banks and Nifty IT have outperformed all other major indices with a higher gain of 4.4% and 7.5% respectively. Some other sectors also have shown positive momentum like Nifty Auto, FMCG, Metal Nifty realty with 1.4%, 2.4,1.8% and 2.9% respectively. However Nifty private banks and NBFC underperformed all other major indices with a lower gain of- 1.2% 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 “Doji” candlestick pattern candle which suggests that markets are cautiously positive at current level. In coming month if Nifty trades and close above15851 level then it is likely to test 15952 – 16088 – 16246 levels. However, if Nifty trades and close below 15626 level then it can test 15490 – 15355 – 15197 levels. 

At present the monthly trend is up. Hence, near 15490 - 15355 levels is strong support if nifty holds the mentioned level then it may test 15952 – 16088 - 16246 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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