foreign investors.
However, in the week ahead, some volatility is likely to kick in amid the expiry of the February derivative series.
In Nifty, in the short term, the index can move towards 22400 and a move above it can take it to 22700, said Arvinder Singh Nanda, Senior Vice President, Master Capital Services.
Both price and momentum indicators are suggesting continuation of the positive price action, Nanda said.
Macro Data
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On the macro front, new home sales and consumer confidence data will be released in the US on Monday, followed by the fourth quarter GDP data on Tuesday.
On Thursday, the initial jobless claims will be released in the US, and in India, the GDP data for the December quarter will be released.
Global Markets
In the absence of any significant domestic triggers, global markets will continue to be monitored by investors for early cues.
F&O Expiry The week also marks the expiry of the February derivative series, and therefore, some volatility is bound to be seen as traders rollover positions to the March derivative seres.
67 smallcap stocks gain in double digits in a roller coaster market week
Auto Sales Automobile companies will release their wholesale sales numbers for February later this week. Investors will watch the numbers to gauge the underlying demand trends in rural and urban markets.
Corporate Action
Vodafone Idea will be in focus as its board will meet on Tuesday