Ahead of Market: 10 things that will decide D-Street action on Monday
The blue-chip NSE Nifty 50 index rose 0.92% to 22,327, while the BSE Sensex settled 0.90% higher at 73,651.
Here's how analysts read the market pulse:
«Nifty has rallied significantly, surpassing the 22,500 mark after maintaining momentum beyond 22,100. Furthermore, there's a clear breakout in consolidation on the daily timeframe, signaling rising optimism. Nevertheless, Nifty encountered initial resistance near its previous swing high of 22,526. Consequently, to sustain a continued rally, it must surpass the 22,525 level decisively. On the downside, 22,200 could serve as short-term support,» Rupak De of LKP Securities.
Deepak Jasani, Head of Retail Research at HDFC Securities, said, «Nifty once again formed a bull candle with high upper shadow, reflecting selling pressure on rises. Nifty rose 1.04% for the week, 1.57% for the month and 1.80% for the quarter. 22526 is proving tough to be breached on the up, while 21973-22180 band could provide the near-term support for the markets.»
That said, here’s a look at what some key indicators are suggesting for Monday's action:
US market
Wall Street set more records Thursday as US stocks coasted to the close of their latest winning month and quarter.
The S&P 500 added 5.86 points, or 0.1%, to its all-time high set a day before and closed at 5,254.35. That sent its gain for the year’s first three months to a fat 10.2%. The only quarter that’s been better in the last two years was the one that came just before.
European shares
Europe's STOXX 600 closed at a record
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