Global cues, Q4 earnings, FII flows among six factors to set Dalal Street trajectory this week
After a good start, the overall trajectory for the market is positive for the truncated week ahead. Stock markets are closed on Thursday for Eid-Ul-Fitr.
Global markets will be tracked by investors for cues in early trade. Investors’ focus will also move to March quarter results, which will begin with Tata Consultancy Services on April 12. “The coming week marks the beginning of the earnings season and the focus will be on the IT majors to start with,” said Ajit Mishra, SVP — technical research at Religare Broking.
Besides, some macroeconomic data points will be released in the US and Europe, which will also be tracked by the market. Following are the factors that will decide the trajectory for markets in the week ahead.
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Investors will continue to take cues from the trend in global markets in early trade in the absence of any significant domestic triggers.
“The performance of the US markets, after the recent decline, will also be in focus and a close below 38500 in the Dow Jones Industrial Average (DJIA) may prompt further fall. On the higher side, it would face stiff resistance around the 39300-39800 zone,” Mishra said.
Macroeconomic Data
Investors will track the minutes of the last meeting of the US Federal Reserve, which will be released on April 10.
China will release its consumer price inflation data for March on April 10, which will also be tracked by investors globally.
