Market View: 23-27 APR 2018

Filed in Market Update by on April 23, 2018


Week Market View: 23-27 APR 2018
View Last week he NIFTY closed at 10564 registering a gain of 0.80% over previous week. The gain was as predicted in the last market view. Phenomenal earnings growth from TCS, good amount of buying from the DII’s and a good monsoon prediction boosted positive sentiments. Technically, the NIFTY has shown a DOJI on the charts which indicates short term indecisiveness. 10600 will act as a strong resistance now and a breakout in either direction will tell us where NIFTY is headed. This week would be marked by APRIL derivative expiry and hence volatility is expected. The markets will watch the earnings closely, Infosys has certainly disappointed but around 120 big names would be announcing their results this week including Reliance, Maruti, Airtel etc. Crude has reached all time high levels since 2014 due to geo political tensions and so the rising crude and its impact on rupee will be watched by the markets. There is a lot of hope of earnings revival this quarter so let’s wait and watch. If we get a good earnings season the markets will factor in for the upcoming Karnataka elections as well. Overall we have nothing really to worry for. We should keep a low profile this week. All the best!

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