Stock Market Overview:
Next week, stock market may witness higher volatility mainly on account of the f&o expiry of the july series. A weak than expected level of reliance industries too may evoke cautious feeling. Across the world, quarterly earnings are the trend setter for the respective indices. In domestic market too, earning of the corporate will play major shot, yet international cues, particularly euro-zone updates will have a major bearing in our stock market.The news that the heavily indebted region of valencia asked madrid for financial aid interrupted a period of relative calm for wall street and raised the specter that the euro zone's fourth-largest economy may itself need to be rescued. The euro-zone nations have sealed a deal for rescue loans up to $122 bn to spain's banks amid speculation that spanish government may also seek a bailout. These developments will provide direction to the international equity bourses. Apple's results, due tuesday, may counter investor worries over the euro zone crisis. Tech results in us also will be closely watched for signs of weak demand overseas, particularly from europe.
Other technology companies expected to report next week include texas instruments and amazon.com. Of the s&p sectors, technology has the highest sales exposure to europe at about 25 percent. Among the other 138 s&p 500 companies reporting earnings are ford motor co, united parcel service and whirlpool corp. A gauge of european banks dropped 3.7 percent and spain's equity benchmark fell 5.8 percent, its largest daily percentage drop in more than two years.
Spanish benchmark bond yields hit euro-era highs as the yield on the 10-year bond reached 7.3 percent. These too may spread selling sentiments among the buyers. Next week, important companies like l&t, dabur, hul, ashok leyland, lic housing, sesa goa are going to announce their quarterly results. Any positive announcement will support buying in our market.
Nifty levels for Today's Market
Resistance Level-5270/5325Support Level-5170 /5045
Intraday Stock Cash Call:
Cash :- buy kpit cummins above 123.50 tgt – 129 & 136 sl- 118Stock Future Call:
buy optocurcui above 162.70 tgt – 170 & 178 sl- 156 lot – 1000
I was delighted to find this web site.I wanted to thank you for your time reading this wonderful! I really enjoyed every bit of it and I've marked to ensure that the blog post something new.
Learn Stock Market