Jul 5, 2021
This week in Stock market: July 5 to July 9
Opinion
Last week, the stock market was choppy. The market hit an all-time high of ~15910 but then saw minimal corrections for the first four days and closed higher on Friday, with Nifty finally settling around 15722. There were no major moves as markets wait for the next big news to take a decisive direction. Let’s look at some contracts that’ll keep the traders interested next week — and discuss what you should buy, hold and sell!
IPOs
Two IPOs are set to hit the markets next week:
- Clean Science and technology
- GR Infraprojects
Both the shares are expected to open at higher values given their high price in the gray markets and the excessive bids placed during the IPO subscription. The long-term view for Clean Science and tech is particularly strong. So my suggestion is to hold!
The vaccination numbers are strong, with India becomes the country with the second-highest number of doses administered so far. The unlock process is going at a rapid pace and the economy is recovering. This is expected to boost investor confidence and rally Nifty.
The weekly chart is still making higher highs. The global markets also seem bullish, which should help push Nifty further. So fundamentally, one should hold a majority of their equity portfolio in the upcoming week. Moreover, the markets formed a hammer in the candlestick patterns on Friday, adding to the positive signs.
Gold
The prices at which Gold is trading are historically good support levels. Last week, the strong bearish trend was also halted and the market saw some buying. If you’re not holding the commodity, this would be a great time to buy Gold futures. If you’re low on capital, consider buying Gold Petal to express your view on the markets. Here’s a weekly chart!
Watch this out!
Last week, we recommended the readers to buy Maruti, TCS and Delta Corp. In the upcoming week, both of these stocks will post their quarterly earning and high-volume trading days are expected. The IT sector remains bullish as ever and my recommendation would be to hold the IT equities. An entry is difficult because the stocks are trading very high values.
Apart from this, OPEC seems to have reached a deadlock on output. With crude oil already trading at 2.5-year highs, this might push the prices higher if an agreement is not reached in the Monday meeting.
As long as Nifty holds 15700, these are good buying days! Is there any particular stock you’re confused about?
