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This question will be going on in the minds of investors at this time whether the current growth of the stock market will continue in the coming time or after some correction it will again go up again. After looking at the pattern of the August series in the next 3 to 5 days, this question can be answered. Generally, the trend of the market is decided on the basis of settlement to settlement. The July series has ended with an edge and now it remains to be seen whether this trend continues even further. With the decline in GDP globally, the virus does not appear to be under control.
In such circumstances, let us try to understand what will be the fluctuations in the stock market in the coming time. Stock market moves in coming days Third stimulus package, US liquidity, Reliance shares price after first quarter results, QIP, LIC IPO and BPCL strategic sales in three major private banks IndusInd Bank, Axis Bank and ICICI Bank Will depend on
Overall, the first quarter results of the companies were excellent and better than analysts expected and proved everyone wrong except for the CNI team. Street was expecting a 54 percent reduction in revenue, which did not happen.
The Sentiment is expected to remain positive generally due to the stimulus package, QIP of three private banks, LIC IPO and BPCL disinvestment. However, retail has made very good positions but operators will not let them earn easily. Due to this, there may be some correction in the market before going up.
Reliance’s contribution to the Nifty boom is important. It is followed by HUL, ITC, INFOSYS and TCS. After good results, Reliance shares have a history of correction and this time things are no different. However, how much correction will happen in RIL shares depends on whether it will break the support level of Rs 1950 or not. CLSA has set a target of 1750 but for this first it has to break the 1950 level. RIL’s weightage in the Nifty is 15 percent and is the most important aspect of the Nifty trend.
The last time we asked to buy Infosys on 700 and TCS on 2,000, the reason was obvious that they would take Nifty up with RIL. Infosys is currently close to 1,000 and TCS is above 2,300. The correction in Reliance shares may cause the Nifty to fall to the level of 10,800 points. We will not have any problem with this because in the coming time we will get a suitable platform to go up through it. However, if Reliance falls below the 1,950 mark and the Nifty too falls below the 10,800 mark, then the August series may face more problems.
It is worth mentioning that gains or losses depend entirely on some strong aspects. In such a situation, if LIC IPO and BPCL’s strategy sale does not happen in August, then there will definitely be a correction in the market. It would be a good thing if the incentive package comes, but even then the market will fall because it is not possible to get monetary benefits from the government. On the other hand the market always wants monetary help. Therefore, we believe that due to these reasons, there can be a correction in the market and if the shares of Reliance fall, then the market sentiment will definitely be affected
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