What to expect from equity markets this week ?

18 Jul 2022 , 09:09 AM

Indian equity markets may remain volatile this week.  The swing between profit booking and value buying may result in markets rising on some days of the week and falling on others. More companies will announce their June quarter results this week. This will be an important factor that will drive the markets. FPIs are likely to continue with their selling trend. Oil prices may also remain volatile. There is a good probability that oil prices may decline some more.

On the technical aspect, technical indicators point to a slightly bullish trend for Nifty 50 this week. Nifty Bank is likely to outperform Nifty 50. Support level for Nifty Bank is likely to be at 34117. Resistance level for Nifty Bank this week is likely to be at 35000. Nifty Midcap Index is also likely to show a slightly bullish trend this week. Nifty Auto Inddex and Consumption Index also seem to be showing a slightly bullish pattern for this week.

Tata Motors’ stock is likely to rise this week. Target price of Rs 480 is expected for this stock. Stop Loss is Rs 418.

Larsen & Toubro’s stock is also likely to show some rise this week. Target price of Rs 1750 is expected on this stock. Stop Loss is Rs 1630.