Weekly Newsletter - July 22 2011

A fairly listless week ended with a bang, helping the main indices gain almost 1% each. But, overall things remain pretty choppy and uncertain. There could be further advance if global markets remain supportive. The real test will be the 200-DMA levels.



The fact that we will have a RBI policy review and F&O expiry next week will make proceedings even more interesting. Corporate results will keep pouring as well. A slew of global economic statistics are also due next week. All in all, next week promises to be action packed.

RIL, Maruti, Sterlite Industries, BHEL, Cairn India, JSW Steel, HCL Tech, HUL, ITC ONGC, Sun Pharma, PNB, Titan, ICICI Bank, Idea and PFC are some of the important companies declaring their earnings next week. In terms of global data points, global markets will closely follow US reports on housing sector, consumer confidence and GDP.

The Nifty may face some resistance between 5700 and 5800 while support is likely around 5500. FII flows will be crucial as well. The monsoon session of parliament will be another key event to keep on one’s radar.