Today, We expect the Indian market to extend Thursday’s weakness, given the plethora of negative factors, both from local and global markets. Inflation for the week ended July 26 rose to 12.01% in line with market expectations, though it still remains at a 13-year peak. Nifty has seen a rally of almost 20% in last three weeks.
Remaining cautious at this juncture should be the right strategy. Choppiness in the last two trading sessions indicates that the market is uncertain over the near-term direction. Action will continue to be stock specific and in some cases sector specific.
Remaining cautious at this juncture should be the right strategy. Choppiness in the last two trading sessions indicates that the market is uncertain over the near-term direction. Action will continue to be stock specific and in some cases sector specific.
