Likely to extend record setting streak next week, although much will depend on Prime
Minister Narendra Modi's maiden budget to be unveiled on July 10.
Investors will be hoping the government will unveil next week a credible budget that seeks to raise revenue, including from sales of state-run firms, while at the same time keeping spending under control. Investors will also be closely tracking monsoon rains, which accelerated this week after recording the weakest first month of the June-September rainy season in five years.
Investors will be hoping the government will unveil next week a credible budget that seeks to raise revenue, including from sales of state-run firms, while at the same time keeping spending under control. Investors will also be closely tracking monsoon rains, which accelerated this week after recording the weakest first month of the June-September rainy season in five years.
NIFTY FUTURE NEXT
WEEK
In this whole week
the trading session witnessed choppy trading with a positive bias, supported by gains
in pharma, banks, autos and technology stocks.
In this whole week the Sensex & nifty both rose up but in trade the nifty
was very range bound since Tuesday. Now the countdown is begin for the upcoming
budget 2014. However,
there are just four trading sessions left ahead of the main event due on July
10.All the investors
having so many expectations from the upcoming budget, 2014. Expectations are that
the index should be able to make new all time highs ahead of the Budget 2014. The
Street is already hoping for a more pragmatic budget this time, which focuses
more on reducing fiscal deficit, boosting growth and reviving the investment
cycle.
The Sensex is trading very close to its next crucial resistance level of 26,000. And nifty is also very close to the level of 7800.
The Sensex is trading very close to its next crucial resistance level of 26,000. And nifty is also very close to the level of 7800.