In addition, the Indian equity benchmarks surpassed their Asian colleagues for the week ended March 22, with the Nifty and Sensex the strongest benefit in regional indicators.
“The Nifty continues to move upwards following the breakout from the falling trendline, which is supported by a positive spirit. During the last trading session, the index faces resistance to the 21-week exponential moving average, which is located above 23,400, with the second 200 points, with the second 200 points. Moving on 23,400 can lead to near -term consolidation, “said Rupal D, a senior technical analyst at LKP Securities.
Factors that are likely to affect movement when markets are reopened this week:
1) Updates related to US Tariff
On the global front, the U.S. Markets will be closely viewed, with updates on tariffs and GDP growth data expected to influence investors’ spirit. When the US Temporary relief was observed after the markets were downward, mixed signals indicate potential instability in the next sessions.
2) Monthly termination
Without ensuring any major local economic programs, the March derivatives will be focused on the termination of the contract.
3) FII/DI activity
It seems that the Indian equity has finally turned into buyers. On Friday, foreign institutional investors (FIIs) paid Rs. A net purchase of Rs 7,470.36 crore was registered, while domestic institutional investors (DIIs) were a net seller, with Rs. There was a net flow of Rs 3,202.26 crore.
4) Technical factors
The banking and financial sectors have played a leading role in the rally, in which the banking index reclaims the key moving average.
“In the banking index, a breakout above 50,800 can take advantage of 51,700-52,800 ranges, while 49,900 is a critical support level,” said Ajit Mishra, SVP of Relief Broking Research.
In addition, the recent breakout from the Nifty’s 22,250-22,650 range has been extended at a critical resistance level of around 23,400, where the key moving average (100-dema and 200-dema) is located.
Mishra added, “The crucial step beyond this level can determine the stage for further benefit towards 23,800-24,100 zones. On loss, a range of 22,750-23,000 is expected to provide strong support in the poolback position.”
5) INR Movement
The rupee became stronger with a sharp growth of 0.40 INR or 0.46%, reaching 85.94, as FII flow has increased with strong buying figures in recent days. The decision to keep the Fed rates steady and its forecast for the front interest rate provided significant support to the rupee, pulling down D Dollar. In addition, strengthening the capital markets increases the rupee stronger pressure.
“Rupees strengthened with 0.40 INR or 0.46%sharp growth, which rose to 85.94, as the FII flow increased with strong buying figures in recent days. The decision to keep the Fed rates steady and its forecast for low interest rates, dragging down Dollar, strong capital, with a strong capital market. And currency on LKP securities.
6) crude price
Crude oil remained very unstable, extending its benefits, supported by US sanctions by plan to reduce production on Iran and OPEC+. Prices have also increased following the Ukrainian drone attack on Russia. The US imposed fresh sanctions on Iranian crude shipment, targeting Chinese refinery and its suppliers. In addition, the OPEC+ announced the output cut from 189,000 to 435,000 barrels, effective until June 2026.
(Disclaimer: The recommendations, suggestions, opinions and views given by experts are their own. This does not represent the views of the economic time)
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