Market Pre-opening Podcast on July 2, 2018

The Nifty50 closed the week with a loss of about 1 percent but managed to reclaim 10,700 levels on Friday. It closed above its 100-EMA, 50-EMA, and 5-EMA. But, most experts are not treating this as the reversal of the trend which is still bearish.

For bulls to regain control, Nifty50 has to close above 10,785-10,800 in coming sessions where there is some resistance. On the downside, supports are seen at 10,417-10,550 levels. 

For the coming week, auto stocks will be in focus as automakers will start declaring their monthly sales number for June. 

Apart from that, Indian currency which hit an all-time low of 69.09 vs USD will also be in focus. Although it managed to recover 62 paise from the lowest level but failed to end the week on a positive note, ending 0.93 percent weaker at 68.47.