Fourth quarter earnings will be the key driving force behind the movement of the stock market in a holiday-shortened week ahead, say experts.
Stock market will remain closed on Tuesday for Mahavir Jayanti.
Infosys, India's second-largest IT services firm, on Friday reported better-than-expected 16 per cent rise in the fourth-quarter net profit and forecast strong revenue growth for the current fiscal on new client additions.
Next week will see major BSE-listed companies such as TCS, Wipro, HDFC Bank, IndusInd Bank, Cairn India and Hindustan Zinc, among others reporting their quarterly earnings.
Among macroeconomic data, inflation based on wholesale price index (WPI) for March 2016 is scheduled on Monday.
The domestic WPI data and Chinese housing figures on Monday, German ZEW economic sentiment, euro zone's current account data on Tuesday and the region's PMI reading towards the end of the week would be other developments that may sway the market sentiment next week.
>>> Nifty Daily Chart <<<
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Price crossed 7760 and Next Resistance @ 7990 to 8015.
>>> Nifty Hourly Chart <<<
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Above 7760 & 7777 - Possibilities like 7890 and 7990-8015 open for the bulls. We have NIL Position.
>>> Bank Nifty Daily Chart <<<
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Above 16265 - Possible rally till 17040.
>>> CEATLtd - Hourly Chart <<<
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We have re-entered our short near 1139, Expecting for fall below 1100.
>>> Performance till 13th April, 2016 <<<
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