Investors will focus on the next batch of Q4 and year ended 31 March 2014 results next week. Trend in investment by foreign institutional investors (FIIs), trend in global markets, trend in other global emerging markets, the movement of rupee against the dollar and crude oil price movement will be watched. Major results like Canara Bank, Emami and Piramal Enterprises will announce their January-March 2014 quarter results on Monday, 5 May 2014. Gillette India, HDFC and Titan Company will announce their January-March 2014 quarter results on Tuesday, 6 May 2014. Lupin, Procter & Gamble Hygiene and Health Care and Syndicate Bank will announce their January- March 2014 quarter results on Wednesday, 7 May 2014. Glenmark Pharmaceuticals and Union Bank of India will announce their January-March 2014 quarter results on Thursday, 8 May 2014. Coromandel International, Eicher Motors, GlaxoSmithkline Consumer Healthcare and Ranbaxy Laboratories will announce their January-March 2014 quarter results on Friday, 9 May 2014. The final result of nine phased Lokh Sabha poll process, which started on April 7 and will end on May 12, is scheduled to be announced on May 16. Meanwhile, in the coming week traders will be eyeing HSBC India Services PMI data, which is due to be released on May 5, 2014. Contradicting indications of rebound in domestic economic growth, the activity in Indian services sector contracted in March on account of fall in new orders amid fragile economy. Meanwhile, foreign reserves data, which would be unveiled on May 5, 2014, too would be watched out by market-participants. On the global front, investors would first react to the US jobs report data scheduled to release on Friday .i.e. May 2, 2014. Besides, that participant will be eyeing some other crucial economic data from US, staring from International Trade data on May 6, followed by Jobless Claims on May 8, 2014. During the week, CNX Nifty touched the highest level of 6786.25 on April 28, 2014 and the lowest point of 6656.80 on April 30, 2014 and closed at 6694.80 with a weekly loss of 87.95 points. For the coming week, 6640 and 6580 are likely to be good support levels for the Nifty, while it may face resistance at 6770 and 6840 levels.
WEEKLY TECHNICAL LEVELS-INDICES-EQUITY
NIFTY- PIVOT POINT 6712
MAJOR SUPPORT 6640 6583 6510
MAJOR RESISITANCE 6768 6842 6900
SENSEX-PIVOT POINT 22474
MAJOR SUPPORT 22228 22038 21971
MAJOR RESISTANCE 22665 22911 23100
USD/INR-NSE
PIVOT POINT 60.58
MAJOR SUPPRT 60.19 59.91 59.52
MAJOR EVENTS FOR THE NEXT WEEK
5 MAY INDIA SERVICES PMI EUROZONE PPI
6 MAY CHINA SERVICES PMI
7 MAY FRANCE INDUSTRIAL PRODUCTION
8 MAY CHINESE CPI
9 MAY GERMAN TARDE BALANCE NUMBERS
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