Earning season will likely to dominate the market week a head
Major US companies, such as Bank of America, Morgan Stanley, Goldman Sachs, IBM, Netflix, Tesla, and Johnson & Johnson will drive the US markets.
Indian investor will await the results of top Nifty 50 companies such as HDFC Bank, LTI Mindtree, FMCG Major HUL, Ultratech.
On the macro data front US investor to monitor retail sales, industrial production, and housing data, including existing home sales, housing starts, and building permits.
In other news, China is set to release Q2 GDP growth
Countries like United Kingdom, Canada, Japan, New Zealand, and South Africa will access the Inflation data.
Indian markets are on uptrend it seems like a sectoral shift. IT led the gains on Friday session and thus it is likely that Nifty IT will catchup the Nifty 50 with a potential of 10% upside from hereon.
Some sector which likely to be have a news based traction
Semiconductor
The Indian cabinet has given its approval to US chipmaker Micron Technology's plan to invest $2.7 billion to set up a semiconductor testing and packaging unit in Gujarat. The government will provide production-linked incentives worth ₹11,000 crore ($1.34 bn) for the semiconductor plant
UPI/Fintech's
Transactions on unified payments interface (UPI) fell slightly to 9.3 bn. in June 2023, data from the National Payments Corporation of India showed. While transaction volume had clocked the 9.4 bn. mark in May 2023, experts attribute the dip in June 2023.
Technically Markets are in uncharted territory with immediate resistance levels of 19500/19300 while the Fibonacci resistance levels are 19693, F&O resistance zone 19800 and finally a Fibonacci extension 161.8% at around 20040
Major US companies, such as Bank of America, Morgan Stanley, Goldman Sachs, IBM, Netflix, Tesla, and Johnson & Johnson will drive the US markets.
Indian investor will await the results of top Nifty 50 companies such as HDFC Bank, LTI Mindtree, FMCG Major HUL, Ultratech.
On the macro data front US investor to monitor retail sales, industrial production, and housing data, including existing home sales, housing starts, and building permits.
In other news, China is set to release Q2 GDP growth
Countries like United Kingdom, Canada, Japan, New Zealand, and South Africa will access the Inflation data.
Indian markets are on uptrend it seems like a sectoral shift. IT led the gains on Friday session and thus it is likely that Nifty IT will catchup the Nifty 50 with a potential of 10% upside from hereon.
Some sector which likely to be have a news based traction
Semiconductor
The Indian cabinet has given its approval to US chipmaker Micron Technology's plan to invest $2.7 billion to set up a semiconductor testing and packaging unit in Gujarat. The government will provide production-linked incentives worth ₹11,000 crore ($1.34 bn) for the semiconductor plant
UPI/Fintech's
Transactions on unified payments interface (UPI) fell slightly to 9.3 bn. in June 2023, data from the National Payments Corporation of India showed. While transaction volume had clocked the 9.4 bn. mark in May 2023, experts attribute the dip in June 2023.
Technically Markets are in uncharted territory with immediate resistance levels of 19500/19300 while the Fibonacci resistance levels are 19693, F&O resistance zone 19800 and finally a Fibonacci extension 161.8% at around 20040