Quote on Morning Market Views 02 July 2025 by Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited

Below the Quote on Morning Market Views 02 July 2025 by Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited
"After breaking the 24500-25000 range Nifty has moved to the new range of 25200-25800. Positive news about a possible trade deal between India and US can help break the upper limit of the range but it would be difficult to sustain the Nifty at higher levels for long. There are no indications yet of a strong rebound in earnings. GST collections data for June indicates sluggish growth. Auto sales numbers for June also indicates subdued sales. In brief, there is no room for the market to sustain the upward momentum given the high valuations.
A surprise element is the resilience of the US economy and corporate earnings, which in turn is imparting resilience to the US market, despite the tariffs. How long this resilience will hold remains to be seen. The Fed chief Jerome Powell has indicated that there is no room for a rate cut immediately. This will rein-in the enthusiasm of the bulls."
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