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=======================================================================Indian Markets Outlook for the week – 18.Apr.2016 to 22.Apr.2016
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Earnings of key companies--Infosys, Tata Consultancy Services, Wipro, Cairn India, and HDFC Bank--for the quarter ended March will give direction to share indices next week. Investor sentiment and the bias for equities remains positive after benchmark indices ended at a three-month high last week,
Technically, The Nifty 50 may test the psychological level of 8000 points, if it crosses its immediate resistance of 7920 points. Last trading day, hope of a good monsoon and benign inflation lifted the index up 141.50 points or 1.8% to 7850.45, its highest level since Jan 1.
The 50-stock index breached its 50-day exponential moving average of 7770 points wednesday, and now finds support at that level. On Monday, global markets would be an important factor for equities as investors come back after an extended weekend on account of Ambedkar Jayanti on Thursday and Ram Navami on Friday.
RESULTS EYED
The information technology giant is likely to report a 3% sequential rise in its Jan-Mar consolidated net profit to 35.5 bln rupees. Other IT majors—Tata Consultancy Services and Wipro--will report their earnings on Monday and Apr 20, respectively.
TCS is seen reporting a 3% sequential growth in its Jan-Mar consolidated net profit to
62.87 bln rupees, boosted by foreign exchange gains and a 4% expansion in topline. Cairn India and HDFC Bank will report their earnings on Apr 22.
( www.rupeedesk.in )