The week ahead : Economic data to move the market further..by J Victor on April 25th, 2016
The week that passed by saw the markets starting off on a high note on Monday but lost momentum as it went ahead. However , the markets closed in green buoyed by earnings numbers , hopes of RBI rate cut , rise in commodity prices , good monsoon forecast and continued buying from FIIs. The Sensex and Nifty finally closed the week at 25,838 and 7,899 – which is 211 and 49 points high respectively.
Going ahead , Quarterly earnings from blue chips will be the key factor that would influence the market movements in the short term. Axis , ICICI , Yes bank and Maruthi are the big names that will come out with its earnings numbers. Traders should note that the derivative contracts will expire this week and that may cause markets to be turbulent towards the later half.Good monsoon forecast is a positive signal since it directly influences the agricultural output , inflation and overall economic growth.
For the week ahead , we expect the markets to trade in a range of 25,300-26,400 and 7,700-8,000. Market valuations are at the maximum at this point and further movement upwards will happen only if there is significant improvement in the overall scenario.
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