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Top 6 factors that will dictate market direction in this week
Updated on 23 April 2017
Recent posts
The following are Top SIX factors that likely to be in focus:-

All through the past week, the domestic equity market looked like a caged bird trying its might to come out of the prison and fly high, but in vain.

Overpowering global cues, including ongoing tensions between the US and North Korea, a plethora of conjectures around French presidential elections, announcement of the UK snap polls, a not-so-great show by IT giant TCS in March quarter earnings and a cautious stance by investors amid March quarter results clipped the wings of the domestic indices.

On Friday, the S&P BSE Sensex shed 57 points to settle at 29,365 while the broader Nifty50 of the National Stock Exchange (NSE) closed in the red for the sixth straight session and settled at 9,119, down 17 points. On a weekly basis, the 30-share index lost 0.32 per cent while the Nifty50 fell 0.34 per cent.
Among key events, IT major Tata Consultancy Services (TCS) on Tuesday reported financial results for the quarter ended March 31, 2017, which were a tad below market projections. The company posted 2.51 per cent quarter-on-quarter (QoQ) drop in bottom line at Rs 6,608 crore for the quarter ended March 31, 2017 compared with Rs 6,778 crore net profit it had posted for the sequential quarter ended December 31, 2016.

Banking sector cheered the Street, as two key players YES Bank and HDFC Bank put up a good show during the quarter under review. While HDFC Bank reported an 18.25 per cent year-on-year rise in net profit at Rs 3,990 crore, YES Bank topped market estimates with a more than 30% spurt in fourth quarter net profit.

Going forward, earnings are likely to play a major role in determining market direction. Going by the buzz on Dalal Street, here’s a list of seven key factors that may impact your market in the coming week.
French elections: One of the biggest determinants of the movement of financial markets across the globe would be the outcome of French presidential election. France goes to the polls on Sunday for the first round of a bitterly-fought presidential election, crucial to the future of Europe and a closely-watched test of voters' anger with the political establishment. With the runoff of elections scheduled for May 7, it is expected that the new president will be formally confirmed by May 11.

Reliance Industries to release Q4 report card: Mukesh Ambani-owned oil-to-telecom conglomerate Reliance Industries (RIL) is slated to release its Q4 results on Monday (April 24).

Other key Q4 results: Besides RIL, other companies scheduled to release March quarter results on Monday include Indiabulls Housing Finance and Ultratech Cement. Axis Bank and IT giant Wipro will announce results on Tuesday i.e. April 25; Kotak Mahindra Bank and Maruti Suzuki India announce theirs on Thursday and Ambuja Cements and IDFC on Friday.

F&O expiry: The market will remain volatile as traders roll over positions in the futures & options (F&O) segment from the April series to May series. The near-month derivatives contracts will expire on Thursday, April 27, 2017.

ECB to announce monetary policy: The European Central Bank (ECB) will announce monetary policy decision in Frankfurt on Thursday (April 27). German Finance Minister Wolfgang Schaeuble has pressed ECB to follow US Fed and change course away from an ultra-accommodative monetary policy.

Technical Analysis
As analyzed during last, we have mentioned that Nifty is supposed to go down and support is at 9000. Still it is trading above 9000 in this week it is expected to move further down and find support near 9000.

Trader and investor can plan their trade or investment accordingly.
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