It is being expected that ongoing correction to mature in the coming week around the major support area of 10100-10200 for the Nifty in the equity market.
The index may undergo a base formation amid elevated volatility in the broad range of 10138-10600 as it has approached its key support range of 10100-10200 after correcting 14% from its’ lifetime highs 11760 level and extreme oversold readings.
As both time wise and price wise the index is approaching maturity so it is being suggested by experts to utilise the current decline to accumulate quality stocks in a staggered manner in the coming weeks.
Companies like Asian Paints, Bajaj Auto, Bharti Airtel, Bajaj Finance, Bajaj Finserv, Dr Reddy’s Lab, Maruti Suzuki and Wipro would release their results during the coming week. Besides, some other international market data releases may affect the situation in the share market.
- One should stick to only quality midcap stocks to ride the next upward move
- Consolidation in the market, accumulate quality midcap stocks in the coming week
- Equity benchmarks in Indian share market closed lower during last week
- Want to stay calm during volatile times in share market, read this…
- Markets witnessed a sharp rebound during the previous week