Indian market continued to remain under pressure for the second consecutive week ended July 30 amid mixed global and domestic cues. In the last week, BSE Sensex fell 388.96 points (-0.73 percent) to end at 52,586.84, while the Nifty50 was down 93.05 points (-0.58 percent) to end at 15,763 levels.

Ashis Biswas, Head of Technical Research at CapitalVia Global Research | The market witnessed some positive movements and an attempt to hold the support level around the Nifty 50 Index level of 15800. The market is going to be crucial for the short-term scenario to sustain above the 15800. Sustaining above 15800, the market expects to gain momentum, leading to an upside projection till 15900-15950 level. Technical indicators suggest, a volatile movement in the market in a small range.

Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments | Short term and medium term supports lie at 15600 and 15400 respectively and as long as these are holding on a closing basis, the propensity of the market continues to be on the upside.

Nirali Shah, Head of equity research, Samco Securities | The RBI’s MPC meeting is scheduled for the coming week however the expectation is that the RBI too, just like the Fed, will not hamper the repo rates, so as to continue supporting impacted sectors with cheaper credit. The Governor's comments on inflation will also throw some light ontoour economy and any future actions our central bank might take. Auto sales numbers, PMI figures along with the result season will continue to drive stock specific movements on D-Street. Investors can continue investing in the markets in a SIP format to accumulate quality stocks.

Sameet Chavan, Chief Analyst-Technical and Derivatives, Angel Broking | Considering the historical trend, ‘August’ month is known for bigger moves. So it would certainly be interesting to see whether ‘History repeats itself’ or not and if this happens then which direction market decided to move in. As far as levels are concerned, 15850 followed by 15950 are the levels to watch out for and on the flip side, the sacrosanct support is placed at 15550 – 15450. If breakout takes place in the northward direction then we may not see bigger move; but if it happens downwards, then brace yourself for some tough time.

Joseph Thomas, Head Of Research, Emkay Wealth Management | The factors that have been at the core of market activity locally as well as globally have been the recent rise in the pandemic numbers indicating a probable revival in the near future, the Fed stance on monetary policy turning more foggy with higher inflation numbers and better growth numbers, but the Fed till looking for better employment data, and the enhancement of Chinese regulatory oversight mainly on tech, and edutech companies, while a political and military stance against China is gaining ground gradually elsewhere. The relatively more important factor to reckon with would be the Chinese ban on exports of certain commodities by Chinese firms including fertilizers may push up the cost of these products for the rest of the world, and may have consequences for trade and commerce in the near term. Some of these factors may continue to dominate the discussions in the coming weeks too, as the markets reopen for business next week.

Ajit Mishra, VP - Research, Religare Broking | The diverging trend of the Nifty and banking index is keeping the participants guessing over the next directional move. However, rotational participation from the index majors from other sectors is helping the index to sustain at the higher levels. Considering the scenario, it’s prudent to maintain focus on themes that are playing out well and select the stocks accordingly.

RBI meet, auto sales, earnings to drive the market, 15,600-15,400 major support: Experts

Auto sales numbers, PMI figures along with the result season will continue to drive stock specific movements on D-Street. Investors can continue investing in the markets in a SIP format to accumulate quality stocks, says Nirali Shah, Head of equity research, Samco Securities.