Budget 2024, Q1 earnings action among 11 factors to impact D-Street mood this week
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Nifty ended with 0.9% gains in a week helped by gains in IT even as metals and consumer durables pulled the markets back. When markets resume trading on Monday, a host of important domestic and global events lined up during the holiday-truncated week are likely to impact them. On Friday, Nifty ended with a decline of 1.1%. The short-term trend of Nifty seems to have reversed from all-time highs, Nagaraj Shetti of HDFC Securities said. The formation of candle patterns as per daily and weekly charts indicate the possibility of more weakness in the market ahead, he warned. “The next lower supports to be watched are around 24,200 and 24,000 levels. Immediate resistance is at 24,850 levels,” he said. Factors that are likely to impact movement when markets reopen this week: Budget 2024 The D-Street will be having its eyes fixed on July 23, when Finance Minister Nirmala Sitharaman will be presenting her first full budget of the Narendra Modi-led...