Indian Stock Market Prediction Next Week (28 June -2 July): Indian stock markets finished higher amid positive global cues during the week ended 25 June. Markets gained even after FIIs sold during the week, however, DIIs continued their buying spree in the cash markets. The progress of coronavirus vaccination and an encouraging macro indicator showing some growth in June after reopening of business activities have upbeat the market sentiment during the week.
The other key factors that may impact the Indian stock market and Nifty and Bank Nifty prediction next week are as follows.
Macroeconomic data
The macro data will play a vital role next week. The IHS Markit PMI manufacturing data for the month of June is expected in the mid of week. The June month’s data is expected to come higher compared to April and May due to the reopening of manufacturing units in several places. The other macroeconomic data that are going to release next week are given below.
| Economic Data Next Week | |
| 30 Jun 2021 | Govt Budget Value |
| 30 Jun 2021 | Current Account Q1 |
| 30 Jun 2021 | Infrastructure Output YoY May |
| 1 July 2021 | Markit Manufacturing PMI June |
| 1 July 2021 | Export and Import Data |
| 1 July 2021 | Bank loan & deposit growth |
Auto sales numbers
The auto sales were hit by the second wave of coronavirus pandemic in April, May, and till mid of June in some places. As per the report, most auto dealers have earned negligible revenue as they have made minimal sales during these periods. During the first fifteen days of June 2021, auto retail sales were better than expected due to the ease of coronavirus restrictions and an increase in demand.
Further, the timely arrival of the monsoon and evenly spread of rains may bring an early respite for the rural economy, which may again increase the demand faster than expected. Traders having a position in auto sectors should remain cautious on 1st July.
Global market cues
All major global market indexes closed higher during the week ended 25 June. In the coming week, global cues will depend on the release of economic data like PMI numbers, unemployment rates. The other economic data that are going to release next week are as follows.
| Important Global Macro Data Next Week | ||
| 29 June 2021 | Unemployment Rate | Japan |
| 29 June 2021 | Retail Sales | Japan |
| 30 June 2021 | Industrial Production YoY Prel MAY | Japan |
| 30 June 2021 | NBS Manufg & Non-Manufacturing PMI | China |
| 30 June 2021 | Current Account & GDP Growth Rate Q1 | GB |
| 1 July 2021 | Thankan Manufacturing Index | Japan |
| 1 July 2021 | Jibun Bank Manufacturing PMI Final June | Japan |
| 1 July 2021 | Caixin Manufacturing PMI | China |
| 1 July 2021 | Markit/Cips Manufacturing PMI final June | GB |
| 1 July 2021 | Jobless claim 4-week avg | US |
| 1 July 2021 | Markit Manufacturing PMI final June | US |
| 2 July 2021 | Monthly Unemployment in June | US |
| 2 July 2021 | Export & Import data | US |
Indian Stock Market Prediction Next Week-Nifty & Bank Nifty futures (28 June to 2 July)
Nifty Futures prediction for the next week (28 June to 2 July)
Primary Trend of NSE Nifty index futures for next week: Positive
Range-Bound Trend of Nifty futures: All up Moves Initiates Profit Booking (Sale) @ 15950 whereas All Down Moves Initiates Short Covering (Buy) @ 15800
Suppose Nifty share price in futures Moves Above 15895 and sustain. Then you should Buy Nifty futures with 1st Target of 15920 during the day or week with a Stop Loss of 15860 FOR the Target of 15920- 15948- 15992- 16046
Suppose Nifty share price in futures Moves Below 15860 and sustain. Then you should Sell with the 1st Target of 15838 during the day or week with a Stop Loss of 15895. FOR the Target of 15838- 15792- 15760 -15713
Bank Nifty Index futures prediction for next week (28 June- 2 July)
Primary Trend of Bank Nifty index future for the week: Positive
Range-Bound Trend of Bank Nifty share price in future: All up Moves Initiates Profit Booking (Sale) @ 35900, whereas All Down Moves Initiates Short Covering (Buy) @ 35250
Suppose the Bank Nifty share price in the futures Moves Above 35570 and sustains. Then you should Buy Bank Nifty futures with the 1st Target of 35760 during the day or week with a Stop Loss of 35220. FOR the Target of 35760 – 35900- 36045- 36370
If Bank Nifty shares price in the future Moves Below 35220 and sustained. Then you should Sell with the 1st Target of 35090 during the day or week with a Stop Loss of 35570. FOR the Target of 35090- 34905- 34750 – 34470
FII & DIIs investment in Indian stock markets
Foreign Institutional Investors (FIIs) were sellers while Domestic Institutional investors (DIIs) were buyers in the cash market during the week ended 25 June. FIIs have sold Rs 2685.9 crores while DIIs have bought Rs 4729.26 crores in the cash market segment during the week.
FIIs sold consecutively for the month of April and May 2021 in the Indian stock market due to the fears of the second wave of coronavirus and its impact on economic growth. After continues buying till mid-June, they have slow down the pace of investment in the Indian equity market. Last week they were the net sellers in the cash market segment. Traders need to monitor closely the FII’s activities in the cash market segment in the coming week.
Coronavirus risk & Vaccination
India reported a single-day rise of 48698 covid-19 cases with 1183 fatalities in the last 24 hrs on Saturday morning. The number of active cases has declined below 6 lakhs and now accounts for 1.97 percent of total infection. While the national recovery rate covid-19 infection has improved to 96.72 percent.
Meanwhile, the government has reported that 50 Delta-plus variants of Covid-19 cases across 11 states of India. The maximum numbers are reported in Maharastra, followed by Tamil Nadu, Madhya Pradesh, and Kerela. The government has said that the delta variants of Covid-19 have been found in 80 countries in the world. In the UK, the new Covid-19 delta variants cases jumped during the week.
On a vaccine front, India administered 61.19 lakh vaccine doses in a day taking to the cumulative number above 31.50 crores. India will have a total of 6 Covid-19 vaccines available by September. The vaccination drive has been accelerated from 21st June due to the new vaccine policy announced by the center. Traders should closely monitor the vaccination drive and delta variant-related news as this may impact the market sentiments next week.
You can also read daily Indian stock market predictions next week before the markets get open and daily Nifty and Bank Nifty Index futures Prediction in the evening on our website.
You may also like to read, Weekly Stock Market Report – 21 to 25 June 2021
Nifty Lot Size Reduced – Here’s what you should know
Happy Investing!!
Editor’s Desk
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