Stock Market oulook this week and ahead

We understand the need for the right research to make smart  investment decisions. To keep you well informed, we present the market outlook for this week.
Previous Week : Hero Honda was the major gainer during last week trade with a gain of more than 10%
	Indian equities traded with high volatility during last week trade. While short covering on Wednesday saw Nifty gaining more than 2%. Infosys disappointing earnings per share guidance for FY12 and spike up in inflation numbers saw the benchmark indices closing flat week on week basis.
		On a week-on-week basis, the Sensex was down by 65 points or
		0.3%, to close at 19386 levels whereas the S&P CNX Nifty closed in the red down by 18 points, or 0.3%, to close at 5824 for the week
		Hero Honda was the major gainer during last week trade with a gain
		of more than 10% week on week basis, where as Infosys was the major loser with a loss of more than 7% on week on week basis
		Infosys Q4 FY11 numbers were more or less in line with street
		estimates but the company gave a tepid guidance for FY12 (123- 128 v/s consensus estimates of 134-137 ) resulting in sharp correction in the stock. Amongst mid cap companies DCB posted numbers beating street estimates
		IIP numbers for the Month of February came in 3.6% (Street
		Estimates: 4.88%). IIP numbers for the month of January were revised to 3.9 %from 3.7% the cumulative growth for the period April- February, 2010-11 stands at 7.8%
		Food inflation fell to a four-month low of 8.28 % for the week ended
		April 2 (9.18% last week). Primary article inflation index at Inflation for the month of March came in 8.98% (Street estimates: 8.38%) versus 8.31% in February
		Crude prices have decline for the week by ~ 4-5 % on week on
		week basis on account of peace talk by Gaddafi
		On the economic front, a report showed that the trade deficit
		narrowed to $45.8 billion in February from a revised $47 billion in January
		The disappointing results from Alcoa contributed to notable
		weakness among resource stocks, which were also dragged lower amid sharp drops in commodities prices
		The US initial jobless claims rose by 27,000 to 412,000 from the
		previous weeks revised figure of 385,000
		The Labour department said its producer price index rose by 0.7% in
		March following a 1.6% increase in February
Week Ahead : Nifty has immediate support at the 5735 levels
	The Nifty at current level is showing signs of indecision as its trading volatile in a wide 200 points range. The market direction in the coming week is going to be determined by the Q4 FY 11 results. In the month of April till date, FII have net buyers to the tune of 2,211 crores while domestic funds are net sellers to the tune of 1,944 crores (provisional data).
		Among the key global data to watch for in next week is US building
		permits, US housing starts, US existing home sales, European monetary union purchasing manager index
		Earnings season will pick up next week with large caps like TCS,
		HCL Tech, JSPL and HDFC Bank declaring the Q4 FY11 numbers. Amongst the mid caps, Indusind Bank and Persistent Systems will report their numbers
		Nifty on the weekly chart has formed a Doji candlestick pattern
		suggesting indecision at current level, and only breakout from the recent trading range of 5730-5945 will determine further course of action
		Nifty has immediate support at the 5735 levels which is the previous
		week low and also coincides with the trendline support joining the high of February 4, 2011 (5556) and February 18, 2011 (5599)
		Breaching below the low of 5735, the index can test 5620 levels
		where it has support from the 200 days EMA
		On the Higher side previous two week high in the range of 5925-5945
		is the immediate resistance, sustaining above which on closing basis Nifty can test levels of 6050 during the coming week Disclaimer: The above views are based upon research of third party and this site is not liabile for any losses occuring to the user of this information.