Weekly Stock Market Outlook August 23 to August 29 2021:
From investing decisions to knowing about the profit margins, what to expect in stock markets this week?. Have a look at the overall market outlook from August 23 – August 29. #MoneyMatters With Mr. Vikas Jain, Senior Research Analyst, Reliance Securities. Watch Video to find out where to and how to invest in the share market.Also Read - RBI Directs Loan Recovery Agents To Not Intimidate Borrowers, Not Call Them Before 8 am And After 7 pm
Weekly Stock Market Outlook August 23 to August 29 2021: Also Read - Dalal Street Kicks Off Fresh Week On Steady Note
Also Read - Raining Bulldozers: JCB Cashes In On Buzz With Attractive Rs 51,000 Bring Home Offer
- Nifty 50 has jumped to a new level of around 16,700.
- In case of market internals, a good amount of shares were sold in cross sectors, profit was seen.
- Unexpectedly, Metal sectors performed well with a level of 8%.
- IT sectors and FMCG sectors have outperformed.
- Bank Nifty and auto has underperformed again.
- A good fall was seen in mid caps and small caps.
- This week, in concerns with monthly derivatives expiry, market volatility will increase.
- This week India VIX has also rose to a level of 8%.
- We could see a few profit bookings in the market this week.
- In terms of global market, US GDP numbers are expected to arrive this Thursday.
- If dxy in global markets cross 94, we could see a sudden second wave of sell off, because of which the market may remain pressurized.
- Bank Nifty is underperforming compared to broader markets.
- Bank Nifty will be in a close watch as it is witnessing a support area of 33,900 – 34,200.