Ahead of Market: 10 things that will D-Street action on Thursday

economictimes.indiatimes.com:

Here's how analysts interpret the market pulse: «Initial concerns arose from the unexpected surge in domestic CPI inflation, primarily due to higher food prices. This brought volatility to the Indian market. However, relief came when this inflation surge appeared transitory, leading to a recovery later in the trading session.

“Additionally, as core inflation continued its moderation, the market did not expect a rate hike, although an extended rate pause now seems more likely. Stronger-than-expected retail sales data in the US and concerns about further rating downgrades of US banks added to the volatility in Western markets. In contrast, Asian markets responded to the rate cut initiated by the Chinese central bank,” said Vinod Nair, Head of Research at Geojit Financial Services.

“The negative chart pattern with consecutive lower tops and bottoms remains. After forming a new lower bottom at 19257 on Monday, Nifty might be heading towards another lower top soon. The strong resistance is currently around 19550-19600 levels, and weakness might emerge from this week's highs.

The immediate support is around 19250-19300 levels,” explained Nagaraj Shetti from HDFC Securities.With that in mind, here are some key indicators for Thursday's action:US marketThe S&P 500 and Dow rose on Wednesday as Target results lifted the retail sector, while investors awaited minutes of the Federal Reserve's July policy meeting for cues on the bank's interest rate path. Shares of Target jumped 6.3% after the big-box retailer's second-quarter profit beat outweighed its annual forecast cut. Bigger rival Walmart, which is scheduled to report results on Thursday, rose 0.5%, while department stores Macy's and Kohl's gained 2.1% and 0.7%, respectively.