Week a head, the spotlight will be on the debt ceiling negotiations, FMOC meeting minutes, and several Fed speeches
Focused Sector
1. Indian paints and coating sector is expected to touch Rs 1 trillion in next 5 years, according to Indian Paints Association
2. Aviation as the domestic air passenger traffic in India has increased from 10.54 million in April 2022 to 12.88 million in April 2023.
3. Electric 2-wheelers Segment as starting June 1, the government plans to reduce incentives for electric bikes
Technically Market is consolidating in a tight range of 18500 and 18200. On the daily chart, small positive candle was formed that indicates the formation of a bullish hammer-type pattern. Normally, formation of such hammer patterns post reasonable decline signal possible reversal on the upside post confirmation.
In Absence of any domestic cues, Market will react on Global factors key levels remain 18033 and 18330. Market to sustain above 18330 to have a pull back till 18643 on downside important level to hold will remain 18033.
Focused Sector
1. Indian paints and coating sector is expected to touch Rs 1 trillion in next 5 years, according to Indian Paints Association
2. Aviation as the domestic air passenger traffic in India has increased from 10.54 million in April 2022 to 12.88 million in April 2023.
3. Electric 2-wheelers Segment as starting June 1, the government plans to reduce incentives for electric bikes
Technically Market is consolidating in a tight range of 18500 and 18200. On the daily chart, small positive candle was formed that indicates the formation of a bullish hammer-type pattern. Normally, formation of such hammer patterns post reasonable decline signal possible reversal on the upside post confirmation.
In Absence of any domestic cues, Market will react on Global factors key levels remain 18033 and 18330. Market to sustain above 18330 to have a pull back till 18643 on downside important level to hold will remain 18033.