Ahead of Market: 10 things that will decide stock action on Monday

economictimes.indiatimes.com:

Here's how analysts read the market pulse:“The market's upward momentum was further supported by strong inflows from FIIs, the merger update of HDFC, and a narrowing current account deficit. Globally, investor confidence was uplifted by favourable revisions in US Q1 GDP, a decline in jobless claims, and positive outcomes from the US bank stress test conducted by the Fed,” Vinod Nair, Head of Research at Geojit Financial Services, said.

“For bulls, 19050 and 19000 would act as key support zones while 19300-19400 would be crucial resistance areas. However, below 19000, traders may prefer to exit from the long positions.

For Bank Nifty, as long as it is trading above 44300 the breakout texture is likely to continue and could move up till 45000-45300,” Amol Athawale, Kotak Securities, said.That said, here’s a look at what some key indicators are suggesting for Monday’s action:US stocks rallyWall Street stocks concluded a winning quarter with a flourish on Friday, cheering better inflation data as Apple surged to a valuation of over $3 trillion. All three indices spent the entire session in positive territory after the personal consumption expenditures index measure of inflation eased to 3.8 percent year-on-year in May, a significant drop from 4.3 percent a month earlier.European shares climb European shares rose on Friday as lackluster data on China's factory activity spurred hopes of more policy stimulus, while investors awaited key inflation readings for more clues on the direction of global interest rates.

The pan-European STOXX 600 index was up 0.7% by 0825 GMT.Tech View: Long bull candle A long bull candle was formed on the daily chart with a gap-up opening, which is for the third consecutive session. The opening upside