The market trend next week will be decided by domestic and global factors.
On the domestic front, India's Union Budget to be presented on July 23 is an important event, with the Q1 earnings season also starting this week. Major companies like Tata Consultancy Services (TCS) and HCL Tech will release their earnings on July 11 and 12 respectively. Additionally, CPI numbers for June, corporate announcements, foreign fund inflows and crude oil prices will be key factors for the market next week.
"India's Union Budget in July is an important event with hopes pinned on growth-oriented policies and monsoon season developments, which will also be a key point of interest for investors," said Pravesh Gaur, Senior Technical Analyst, Swastika Investmart Ltd. And traders."
On the international front, market participants will closely keep a close eye on key events including Fed speech, UK GDP data, US core CPI inflation, initial jobless claims and US PPI data.
Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd, said, "Nifty currently has important support around 24,100 levels. Breach of this support could lead to a fall to 23800 levels. A close above 24,450 could see Nifty fall. There may be a push towards 24,600 levels, with resistance at 24,400-24,500 and immediate support at 24,200.
On the domestic front, India's Union Budget to be presented on July 23 is an important event, with the Q1 earnings season also starting this week. Major companies like Tata Consultancy Services (TCS) and HCL Tech will release their earnings on July 11 and 12 respectively. Additionally, CPI numbers for June, corporate announcements, foreign fund inflows and crude oil prices will be key factors for the market next week.
"India's Union Budget in July is an important event with hopes pinned on growth-oriented policies and monsoon season developments, which will also be a key point of interest for investors," said Pravesh Gaur, Senior Technical Analyst, Swastika Investmart Ltd. And traders."
On the international front, market participants will closely keep a close eye on key events including Fed speech, UK GDP data, US core CPI inflation, initial jobless claims and US PPI data.
Arvinder Singh Nanda, Senior Vice President, Master Capital Services Ltd, said, "Nifty currently has important support around 24,100 levels. Breach of this support could lead to a fall to 23800 levels. A close above 24,450 could see Nifty fall. There may be a push towards 24,600 levels, with resistance at 24,400-24,500 and immediate support at 24,200.
