Moneycontrol
Last Updated : Jan 08, 2018 08:55 AM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Strong momentum may push Nifty towards 10,600

Markets will react to the GDP estimates on Monday which were released by CSO post market hours on Friday.

Climbing all wall of worries Nifty rose to a fresh record high on Friday and is now all set to climb 10,600-levels.

The momentum is strong which is keeping bulls active on D-Street and even though GDP data released by CSO last week does point towards a slowdown, that is more or less temporary. D-Street has got nothing to worry about.

ICRA expects GVA growth to rise to around 6.7% in Q3 FY2018 and a sharp 7.5% in Q4 FY2018. Investors are advised to tread with caution as we head towards crucial resistance zone of 10,600.Technical experts expect some bit of profit booking around these levels.

Markets will react to the GDP estimates on Monday which were released by CSO post market hours on Friday. Earnings will dominate markets this week – TCS and Infosys will report their results for quarter ended December on 11 and 12 January respectively.

On the macro front, data for November industrial production and December CPI inflation will be released after market hours on Friday.The Street would also keep a tab on Brent Crude oil prices which crossed USD 68 a barrel level for the first time since May 2015 last week.

For more, watch the Markets@Moneycontrol show. Moneycontrol analyst Shishir Asthana speaks to Anchal Pathak about the markets trends to look out for today.
First Published on Jan 8, 2018 08:55 am
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