June series is done and dusted and forgotten. The focus today shifts to GST which is rolling out tomorrow. Parliament will go on a special session from 10.30pm tonight and exactly at the strike of the midnight hour, Parliament attended by President, Vice President, Prime Minister, Council of ministers and members of Parliament will usher in the biggest tax reform of this century as well as that of independent India.
Market will be worried on the impact of GST and how it will impact the economy.
Though there will be hiccups initially, we are well on our way for 10,000. Half of 2017 will be over today and the 2nd half will be approached with nervousness. World markets are in red and all these worries and uncertainty will weigh on NIFTY and don’t be surprised if there is a correction today. Infact the opening itself will be a gap down and will happen close to 9450 level. 9400 will be tested during the course of the day. Today is the weekend as well as end of the month as well as end of 1st half of the year. So, there wont be much inclination to buying and some motivation to profit booking. That will impact the NIFTY today and so its a day to sit and watch the “Red” in the market and its a red flag day for any kind of buying.