InvestorQ : Hi Dikshi, what is your trading view for the week starting on 03 May? What are the major trading signals that you anticipate for the week?
Rashi Mehra made post

Hi Dikshi, what is your trading view for the week starting on 03 May? What are the major trading signals that you anticipate for the week?

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diksha shah answered.
5 days ago
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During the last 2 weeks, the Nifty has been gyrating between gains and losses and that volatility may continue. Here are some of the key triggers for you to keep a watch on.

· Nifty and Sensex gained 2% in the previous week but 15,000 on Nifty and 50,000 on Sensex continued to be major resistance. The worry is VIX above 23, which promises to make the market volatile.

· COVID cases in India continued to hover around 400,000 per day even as inoculations were struggling to catch up. FPIs took out Rs.12,039 crore in April on COVID fears and that fear could sharpen.

· Expect reaction to RIL results on Friday evening. Profits were up 108% and the EBITDA of retail and digital is now more than O2C. This week, big results expected are Kotak Bank, SBI Life, Adani Ports, Tata Steel, Hero Moto, HDFC, and Ultratech Cement.

· Power Grid INVIT IPO got 59% subscribed in 2 days but the Rs.4,993cr INVIT IPO could test appetite for monetized paper. Auto numbers disappointed and could be an overhang in the coming week.

· There was good news as the core sector for Mar-21 came in at 6.8% on base effect. This base effect is likely to continue for 4-5 months and that is good macro news. This week. PMI Manufacturing and Services will determine macro momentum.

· On generic cues, NDA loss in West Bengal could disappoint markets in the short run. However, the record GST collections of Rs.141,000 crore in Apr-21 could steal the show.

· Key US macro data points include US PMI, April Construction, Vehicle Sales, Factory Orders, jobless claims, and non-farm payrolls. Other key global data points include ECB PMI, April retail sales, BOJ policy, JIBUN PMI, China CAIXIN PMI and trade balance.



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