Since the budget itself, the stock market has not recovered from the fall. All trading sessions except for Thursday’s fall were seen in the fall and the Sensex broke up to 1900 points. The market weakened due to the decline in the world’s largest markets including LTCG and the US. Experts say that there is a possibility of a fall in the market next week. If the Nifty does not go above 10650 then the market will remain weak. At the same time, if the level of 10276 breaks it can reach the level of 10 thousand.
Broken market for these reasons
Since LTCG tax was levied on February 1, the Sensex has lost 1900 points i.e. 5.58 percent. With the introduction of LTCG tax, profits from the upper levels in the market have been dominated. Apart from this, there is pressure on the sell-out market in the global market. In fact, because of the boom in Bond yield, investors are taking out bonds in equity from the equity market. There is a saline pressure in many large markets including the US.
Weakness in the market
According to Sachin Sarvade, technical analyst of SMC Institutional Equity, there is no possibility of improvement in the market right now. Unless the Nifty closes above 10,650. By then there will be a weakness in the market. This put-call ratio is below the open interest of 1. This means the market can be weak now. Currently, Nifty has 10,300 support. If this level breaks, the Nifty may fall below 10,000 level.
At the same time, Jagdish Thakkar, director of Fortune Fiscal, says that long-term capital gains tax in the market is responsible. The impact of the Global Sale Off is on the market. At the moment there is a support of 10,250 from the bottom in the market which is not broken yet. There has been a lot of correction in the market. Market improvements may be seen from next week. Nifty looks upwards of 10,750 levels.
These Factors Be Loyal
According to Arun Kejriwal, founder of Chris Research, the results of third quarter results of companies like Britannia, Sanghi Industries will also be released at the domestic level next week. Big companies have come. The results of mid-caps and small-caps companies are to be released.
The impact of the global market
On the market, there will be the impact of the global market. What is happening in the market of the US market due to the fear of a Fed rate hike and what will be the impact on the Indian market.
This week investors will also look at CPI data. During this time, the CPI data of January 2018 will be released. Its effect will also appear on the market.
Eyes on FIIs
In February, FIIs sold shares worth Rs 4,859.48 crore in the Indian market till Thursday. In January, these investors bought shares of Rs 22 thousand crores. Jagdish Thakkar says that Jagdish Thakkar says that due to the increase in bond yields in the US, foreign investors are putting money out of the Indian market for better returns. FIIs are trading in 5 of the 6 trading sessions this month. However, during this period DII has procured 4,830.88 crores.