A morning walk down Dalal Street | What's in store for the markets in 2018?
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A cautious start to the New Year! Bulls failed to regain control in the first week of the year 2019 as benchmark indices closed the week with losses of over 1% each.
On Friday, the S&P BSE Sensex recouped intraday losses and closed 181 points higher, thanks to supportive global cues. While the Nifty ended 55 points up to close at 10,727.
The index bounced back after retesting its crucial support placed at 50-days moving average but it is still trading below its long term moving average placed at 10,780.
The coming week promises lot of excitement. Earnings, macro data will dictate the trend for markets. IT majors TCS and Infosys will declare their results on 10th and 11th January. Other major companies that will announce their Q3 results next week are Tata Elxsi, Bajaj Corp, Delta Corp, Bandhan Bank, Karnataka Bank and IndusInd Bank.