Local equity markets scaling life-time high levels in the passing holiday truncated week, puffed up gains in the range of 0.25%- 0.45% and ended above the psychological 22,700 (Sensex) and 6750 ( Nifty) levels respectively. In the coming holiday truncated week, which marks the start of new month, market-participants would be watching out HSBC Manufacturing PMI, which is slated to be released on May 2. Stock markets would be shut for trade on May 1 on account of 'Maharashtra Day'. However, before that market will be watching out for Core sector data, to be released by the end of the month.The index of eight core industries rose 4.5% in February from a year earlier, compared with 1.6% in the previous month, according to data released by the commerce and industry ministry. Besides, Consumer price index (Industrial Workers) data would be released on April 30, 2014. Further, auto and cement companies would be in focus for the coming week as these companies will report their monthly sales figures. In the ongoing result season, traders will be eyeing earnings of prominent companies, including Godrej Consumer, Hindustan Unilever, Alstom T&D, Bharti Airtel, Ceat, Dabur India, TVS Motors, IDBI Bank, Kotak Mahindra Bank, Bata India among others. On the global front, investors would be watching out for few economic data release from world's largest economy, United States (US), staring from GDP data on April 30, followed by Jobless Claims data, Personal Income and Outlays, ISM Mfg Index and Employment Situation data on May 2, 2014. Next major support seen at 6745 and 6710 while major resistance at 6840 and 6905. Broadly, Macroeconomic data, trend in investment by foreign institutional investors, trend in global markets, trend in other global emerging markets, the movement of rupee against the dollar and crude oil price movement hold key. FMCG major Hindustan Unilever reports Q4 results on Monday, 28 April 2014. Bharti Airtel, Jindal Steel & Power and Sesa Sterlite will unveil their Q4 results on Tuesday, 29 April 2014. Kotak Mahindra Bank announces its Q4 results on Wednesday, 30 April 2014. Grasim Industries announces its Q4 results on Friday, 2 May 2014. Auto stocks will be in focus as companies from this sector will start reporting sales volume data for April 2014 starting from Thursday, 1 May 2014. PSU OMCs will be in focus. State run oil marketing companies (PSU OMCs) will review fuel prices on 1 May 2014 based on the average imported oil price in the previous fortnight. PSU OMCs review fuel prices on 1st and 16th of every month based on the average imported oil price in the previous fortnight.
WEEKLY TECHNICAL LEVELS-INDICES-EQUITY
NIFTY- PIVOT POINT 6808
MAJOR SUPPORT 6747 6711 6650
MAJOR RESISITANCE 6844 6905 6941
SENSEX-PIVOT POINT 22755
MAJOR SUPPORT 22570 22452 22268
MAJOR RESISTANCE 22873 23057 23175
MAJOR EVENTS FOR THE NEXT WEEK
28 APRIL US HOME SALES DATA
29 APRIL US-CONSUMER CONFIDENCE DATA
30 APRIL FED RATE DECESION
1 MAY INDIAN MARKET CLOSED DUE TO MAHA DAY
2 MAY US HSBC PMI MFG DATA
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