The week ahead : Nearing key hurdles..

Backed by positive cues from around the world , the Indian benchmark indices closed the week with a gain of 1.14% ( Sensex @ 32969 ) and 1.16% ( Nifty @ 10,114 ). The on-going talks to ease the trade war between US and China eased the pressure around the globe and Indian and Asian markets responded accordingly.

Going ahead, the first trading week of the new financial year unfolds and investors should keep watching the global trends which were driving the market sentiments for a while now. The March month auto sales numbers and the rupee and crude oil price movement are also important. Although the indices reacted positively last week , the short term trend still remains down. Whats important to watch is whether the indices can break the key resistance conclusively. The key resistance points or the Nifty and the Sensex are poised at 10,600 and 33,800. These are key hurdles and as long as the indices trade below these levels , it would be difficult to judge whether there is a confirmed uptrend or not.

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