A morning walk down Dalal Street for July 23, 2018
Bulls helped Nifty to climb 11,000 mark for the second consecutive week in a row but it closed largely flat with a negative bias for the week ended July 20. The market is likely to remain volatile ahead of July F&O expiry on Thursday.
Nifty for the week made a Doji pattern which points towards indecisiveness among bulls as well as the bears. The index remained under pressure last week largely on three counts: Trade wars, fall in rupee which touched a new low of 69.13 on Friday, and political drama which unfolded on the last day of the week – the no-trust vote.
Well, for the week, the trend will be dictated by earnings. Over 270 companies will be declaring their results for the quarter ended June this week, but specifically for Monday 35 companies are scheduled to report results which include names like ACC, HOEC, Indiabulls Ventures, ICICI Securities, L&T Infotech, United Spirits, V-Mart etc. among others.