Markets ended the July series on a positive note; what should investors do on Friday?

Domestic equity benchmarks BSE Sensex and Nifty 50 resumed uptrend after three straight days of fall on Thursday, the day of F&O expiry. The Sensex closed 209 points higher at 52,653 and the Nifty50 surged 69 points to settle at 15,778. The broader market indices outperformed the benchmarks as mid-caps climbed over half a percent and small-caps climbed nearly 1%.

Among sectors, the metal index gained 5%, while IT, PSU Bank and realty indices rose 1-3%. However, FMCG index was down 1%.

On the Nifty50 index, Hindalco, Tata Steel, Bajaj Finserv, JSW Steel, SBI were the top gainers. And Maruti, Power Grid, ITC, Bajaj Auto, and Coal India led the losses.

Tatva Chintan Pharma Chem shares got listed at 95% or Rs 1,028 premium over IPO price, at Rs 2,111 apiece on BSE.

Here’s how experts see markets trading on Friday

Ajit Mishra, VP – Research, Religare Broking

Markets traded firm and gained over half a percent on the day of monthly derivatives expiry. The dovish monetary policy from the US Fed boosted sentiment and triggered a gap-up start. The benchmark inched gradually higher as the session progressed however buying was restricted to select index majors. Consequently, the Nifty index ended with decent gains of 0.5% to close at 15,778 levels It’s prudent to stick with a stock-specific trading approach until we see a decisive trend in the index. Earnings combined with global cues will continue to dictate the trend.

Sumeet Bagadia, Executive Director, Choice Broking

Finally, the bulls came into action after a three-day fall. On the technical front, the index has been trading in higher highs and lower lows formation and taken support at lower Bollinger Band formation & 50-days SMA, which suggests a bounce back in the upcoming session. However, the Nifty index is struggling in a range of 15,700-15,900 and either side breakout will decide the further direction. At present, Nifty is finding resistance around 15,960 levels while on the downside, support is intact at 15,600 levels.

Manish Shah, Founder, www.Niftytriggers.com

Nifty has seen one of the lowest range of the months. Such a grind as not been seen in months.
We know that the 15950 is a major resistance barrier and Nifty needs to break above the zone with a strong momentum candle. Before this happens Nifty has to face a resistance at the gap up area between15830-15880. From the look of it a close above 15880 could be an early signal that the Nifty could see a resumption of an up trending phase.