Key Triggers for Next Week: Q2 GDP, FIIs Data, and Global Cues Market Outlook
Next week, there are a few key things to keep an eye on in the stock market. Experts suggest that tensions between Russia and Ukraine, along with rising crude oil prices, the activity of foreign institutional investors (FIIs), and the Q2 GDP will be major factors influencing the market. It’s all about staying informed and prepared for what’s to come.
Last week, Indian equity markets bounced back after a two-week losing streak. Even with geopolitical tensions, the bulls made a strong recovery on Friday. This was supported by positive exit poll predictions for the NDA alliance victory in the Maharashtra elections, which helped stabilize market sentiment.
The Nifty closed 2.39% higher at 23,907.25, while the Sensex closed 2.54% higher at 79,117. This led to a weekly rally with Nifty and Sensex rising by 1.45% and 1.78%, respectively. The rally was broad-based, involving nearly all sectors except energy. Realty, auto, and fast-moving consumer goods (FMCG) were some of the top contributors.
Experts like Palka Arora Chopra from Master Capital Services and Santosh Meena from Swastika Investmart are optimistic given the recent results in Maharashtra and Jharkhand elections. They believe that political stability in Maharashtra could boost investor confidence and lead to a stock market rally.
Looking ahead, important resistance levels for Bank Nifty are between 51,300 to 52,000. A break above these levels could see it going further up. On the other hand, for Nifty, 24,100 is a key resistance level to watch for. If the index surpasses this, it could target 24,500, while 23,700 is an essential support level.
As we brace for next week, it’s helpful to keep these factors in mind while following market developments closely. Stay informed and stay tuned for any volatile movements that may occur. Let’s see how these factors play out and what they mean for investors in the coming days.
