Stock market will be open for only 4 days next week, know whether the boom in the stock market will continue or recession will return?

Due to the stock market being closed on Thursday on the occasion of Independence Day, the stock market will be open for only 4 days next week. Now the question arises how will the market move in the new week starting from Monday? Will Friday’s boom continue or will the recession return? Market experts say that macroeconomic data, June quarter results of companies, and global trends will affect the trading sentiment of the stock market in the coming week. Apart from this, the trading activity of foreign investors will also be an important factor in determining the activities in the market. 

Weakness possible in the market 

Pravesh Gaur, Senior Technical Analyst at Swastika Investment Ltd, said, “This week, all eyes will be on global markets as we may see weakness after a long period of stability. Indian equity markets may also struggle to maintain levels to some extent this week. Apart from the high valuation of the market, geopolitical tensions are also increasing.” He said that on the domestic front, the final round of financial results of companies for the April-June quarter will decide the direction of certain stocks this week. Results of some big companies like Hero MotoCorp and Hindalco are going to come this week. 

The quarterly results of these companies will come 

Gaur said, “Institutional flows will also play an important role in market dynamics.” Vodafone Idea, NMDC, IRCTC, SJVN, and PC Jeweller will also announce their quarterly earnings during the week. On the macroeconomic front, June industrial production data and July retail inflation rate will be announced on Monday. Wholesale Price Index-based retail inflation data will be released on Wednesday. Vinod Nair, Head of Research at Geojit Financial Services, said that apart from the Indian inflation data coming this week, global markets will decide the direction of the domestic market. 

24,000 is an important support level

Arvinder Singh Nanda, Senior Vice President, Master Capital Services Limited, said that Nifty has formed a hammer candle in the weekly chart, i.e. it has recovered after falling from a high, which shows that the market may see a boom in the coming week. 24,400 is an important resistance level for Nifty. If it crosses it, it can move towards 25 thousand points. At the same time, 24,000 is an important support level. If it breaks below it, it can fall to 23,500 points. In such a situation, buying on dips can be a good strategy for investors.

The market had recovered after the fall 

Last week, the BSE Sensex fell 1,276.04 points or 1.57 percent while the NSE Nifty declined 350.2 points or 1.41 percent. Global stock markets fell sharply last week due to the closure of the yen carry trade and fears of a recession in the US.