Modi-Trump meet, Q3 earnings among 8 factors that could impact D-Street trade this week
The broader Nifty 50 index closed at 23,559.95, down by 43.40 points, or 0.18%.
“Technically, after a 250-point pullback from the intra-week high of 23,807, the Nifty has found support at the 11- and 20-day EMAs (23,465 and 23,440, respectively). A sustained move above 23,700 could pave the way for a retest of the 23,807 resistance, followed by the 24,000-24,100 zone. Conversely, the 23,400-23,465 range is expected to provide support on the downside,” said Devarsh Vakil of HDFC Securities, commenting on the day’s action.
Factors likely to impact market movement when trading resumes this week:
1) Trump-Modi meet
Markets will keep an eye on any comments by US President Donald Trump regarding the economy and geopolitics. Prime Minister Narendra Modi is scheduled to visit the USA next week, on February 12-13, where he will interact with Trump and senior US officials. These meetings will also be closely monitored for any potential announcements, which could lead to stock-specific reactions.
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