The Indian equity markets starts this week on a positive note.
Key factors that could guide market this week includes –
- Geopolitical developments and trend in Covid-19 cases.
- June monthly expiry series is expected to inject some volatility as traders will roll over
their positions to next month - global markets trends, and foreign fund movement would also dictate sentiments
- The last leg of March quarter earnings will trigger stock-specific movements.
- Investors will also keep a keen eye on the vaccine front. Hetero will launch remdesivir, an injectable drug from Gilead, to treat hospitalised Covid-19 patients this week.
- Markets will also monitor the escalating tensions between India and China.
- On the results front, more than 600 companies are scheduld to release their quarterly earnings this week, which includes the likes of ITC, Asian Paints, GAIL India, Coal India, and IRCTC.
- On the macro front, current account data for the fourth quarter will be released on June 26.
- Globally, investors will be eyeing some ket macro-economic reports from the US including Manufacturing PMI, GDP growth rate, and the results of Fed stress test for big banks.
A technical look at the Nifty.
Last week The Nifty closed at 10,244, above its 100-day moving average on Friday. According to analysts, all eyes will now be on 10,350, a level from which the index retreated twice last week. If the Nifty manages to breach this level, the next stop could be 10,550.
[/vc_column_text][/vc_column][/vc_row]