Ahead of Market: 10 things that will decide stock action on Tuesday
economictimes.indiatimes.comequity indices ended lower in a trading session on Saturday, dragged by information technology companies and Hindustan Unilever, but gains in lenders helped limit some losses.
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The blue-chip Nifty 50 ended down 0.23% to 21,571, while the S&P BSE Sensex fell 0.4% to 71,423.
The equity market traded in a full session on Saturday, and remained shut on Monday due to a public holiday in Maharashtra state and as the central government observes a holiday on the occasion of Ayodhya Ram Mandir Pran Pratishtha.
Here's how analysts read the market pulse
«Indications are in favor of further consolidation in the index thus traders should maintain their focus on stock selection. All key sectors, barring banking, are still holding strong however earnings announcements are keeping volatility high so keep a check on aggressive positions and maintain a clear exit plan in place,» said Ajit Mishra, SVP — Technical Research, Religare Broking.
Om Mehra, SAMCO Securities, said, «Despite persistent attempts to breach crucial resistance each of them resulted in a sell-off. The market exhibited a consolidative trend within the 21,500-21,750 range, indicative of a sideways movement going ahead. Weekly support stands firm at 21,400 levels while the upper Bollinger band poses resistance at 21,850.»
That said, here’s a look at what some key indicators are suggesting for Tuesday's action:
US market
The S&P 500 touched a fresh record high on Monday in another session of gains for Wall Street's major indexes, with investors monitoring the ongoing corporate earnings season and any clues on interest-rate cuts this year.
European shares
European shares rose on Monday as they
