Mumbai, January 11 (). The ups and downs in the Indian stock market are expected to continue in the coming week. Many issues related to the country and the world can affect the market. Investors will keep an eye on the start of December quarter results, important inflation related data and uncertainty regarding America’s trade policy.
Benchmark indices closed on a weak note last week, extending their decline for five consecutive trading sessions. Investors appeared cautious before the quarterly results of companies. The market remained under pressure due to continuous selling by foreign investors.
Now next week, investors will keep an eye on how the companies perform in the December quarter and whether the economic data provides any relief to the market or not.
The December quarter results will start with the country’s major IT companies, including Tata Consultancy Services, HCL Technologies, Infosys, Wipro and Tech Mahindra, declaring their third quarter results.
The coming week is also going to be very important in terms of economic data. During this period, data related to retail inflation, wholesale inflation, trade deficit and foreign exchange reserves will be released in India.
All these data will help in understanding the economic condition of the country and will set expectations regarding interest rates and economic policies of the government.
Investors will continue to keep an eye on global developments, especially activities related to America’s trade policy. Several important cases are to be heard and ruled on in the US Supreme Court, including a case challenging the global tariffs imposed by President Donald Trump.
If any clear decision or shocking decision comes in this matter, then it can have an impact on the stock markets around the world, whose effect can be seen on the Indian market as well.
According to a market expert, the immediate resistance for Nifty is at 25,800. After this, pressure may remain at the levels of 25,940 and 26,000. On the downside, support can be found at the levels of 25,600 and 25,450. If the market slips below 25,300, the decline may be sharper.
Another expert said that on a daily basis, Nifty has closed below the important level of 25,800. This indicates that selling pressure has increased in the market and currently the effect of recession is visible.
—
DBP/VC
