Sunday, 22 April 2018

Weak Market will keep trader busy before the Expiry - Next week

The market continued its run for the fourth consecutive week despite volatility in global stocks and crude hit multi-year highs, largely backed by hope of continuity in earnings revival and its seems investor continuing to monitor the earning performance, crude prize and rupee movement with update in progress of Karnataka Election update which may market make more volatile and weak.
Brent is nearly closed to 74USD which is highest after 2014.
Market will first react on HDFCBank Result which are below expectation with controlled NPA and high provisioning.
TCS healthy earning and next year guidance, normal monsoon forecast boosted the investor confidence last week and the broader market outperformed front liners as the Madcap and Small cap indices rallied a percernt each. Metal and IT were biggest gainer rising 4-5 percent while PSU bank lost the maximum nearly 5 percent.

Main Momentum will remain focus on Earning next week as 120 companies are going to announce their earnings, will be sharing the list separately.
Technical Outlook
No change in technical outlook on Nifty before expiry, Nifty will try to reclaim its 10600 level and 10660 will remain its strong resistance on higher side while 10480 will remain strong support for the nifty before expiry.

No comments:

Post a Comment