Share Market Outlook: This week the Midcap index has fallen by 3 percent and the Smallcap index has fallen by 1.8 percent. There has been a huge decline in five companies of the Adani Group. Investors should look for the right opportunity for themselves as the midcap bull run is pending.
On a weekly basis, Adani Total Gas declined by 22.62 per cent.
Share Market Outlook: This week the stock market set a new record, after which selling pressure is visible on it. However, on a weekly basis, for the fourth consecutive week, it closed sharply. However, on a weekly basis, the Nifty closed with a decline for the third consecutive week. However, on a psychological level, the market is still showing an uptrend. Any downside at this level is likely to be dominated by the buyers.
On the other hand, BSE Midcap and Smallcap indices have declined by 3 per cent and 1.8 per cent this week. Some of the stocks in the BSE 500 index have declined up to 23 per cent this week, including Adani Total Gas, Adani Transmission, Adani Power, Graphite India, Adani Port & SEZ, BHEL, Adani Green Energy, Ashok Leyland, Hindustan Copper and Tube. Including companies like Investments.
5 shares of Adani Group included
On a weekly basis, 22.62 per cent in Adani Total Gas, 22.62 per cent in Adani Transmission, 22.52 per cent in Adani Power, 18.30 per cent in Graphite India, 17.19 per cent in Adani Port and Special Economic Zone, 15.62 per cent in BHEL, 15.03 per cent in Hindustan Copper, Adani Green Energy declined 13.36 per cent, Ashok Leyland 11.64 per cent and Tube Investment declined 10.89 per cent.
Pressure on smallcap and midcap on immediate basis
Market experts say that there is definitely a decline in smallcap and midcap stocks on an immediate basis, but these two indices are yet to gain momentum. In the coming days, further correction can be seen in midcap and smallcap stocks. The correction is visible again in the commodity sector.
Where will the market look next?
Regarding how the market will be in the future, experts say that Nifty 50 is trading above the fifty-day moving average 15063. The expiry of this month’s futures and options is on June 24. Till then there will be volatility in the market. In such a situation, the first look should be at the support level of 15450-15550. The resistance level for this will be at the level of 15800-15900. On the last day of the week, the Nifty 50 closed at the level of 15683 with a fall of eight points while the Sensex closed at the level of 52344 with a gain of 21 points.
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