Ahead of Market: 10 things that will decide D-Street action on Friday
Here's how analysts the market pulse:
«Technically, the 24,250 zone showed signs of resilience, which could be seen as an intermediate obstacle for the bulls to overcome. On the lower end, the pivotal level of 24,000 still holds significant importance, and a decisive breach could trigger some correction in the near future, with immediate downside support at 23,800,» said Osho Krishan, Senior Analyst — Technical & Derivatives, Angel One.
«The higher-end resistance is placed at 24,500, where the highest open interest is built up on the call side. A break above this mark will likely see a fresh move on the upside. The lower-end support is at the 24200-24150 zone, and a decisive break below this level could lead to further selling pressure towards the 24,000-23,800 mark,» said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
That said, here’s a look at what some key indicators are suggesting for Friday’s action:
US market
Wall Street remained closed on Thursday, July 4, in observance of Independence Day.
European shares
European shares rose on Thursday amid optimism around U.S. interest rate cuts following soft economic data, while London markets gained as voting began in the UK with opinion polls predicting a historic win for the Labour party.
The pan-European STOXX 600 index rose 0.4% by 0816 GMT, led by a 1.3% rise in the automobiles and parts sub-index .
The sub-index was powered by German automotive supplier Continental, whose shares jumped 10.1% to a three-week high, with a trader
