Rudra Investment Suggest Some Things That Will Keep Traders Busy This Week

Expertise of Share Market Rudra Investment believes long term can use instability in the market to their benefit and preserve a stock-specific approach. Benchmark indices gained a percent in the previous week with the 30-share BSE Sensex closing above 36,000 levels and Nifty50 settling tad over 10,850.

The market is usual to combine in the coming week and the focus will gradually shift to earnings, experts said.

The domestic response remained optimistic with reports that the government is contemplating several incentives for farmers ahead of the 2019 Lok Sabha elections.

Here are Some 10 key things that will keep traders busy next week:

Income

The market’s meeting point will gradually shift to December quarter earnings in coming month, which will be closely watched after mixed performance in July-September quarter.

Smallcap firm GM Breweries will be the only company to declare its Q3 numbers on January 3.

Crude

Oil prices fell for the third successive week and traded near to the smallest levels of 2018 amid global growth concerns.

International benchmark Brent crude futures slipped around 3 percent to close at $52.20 a barrel after falling briefly below $50 during the week while US crude lost half a percent to $45.12 a barrel.

Rupee

The Indian rupee settled the passing week at 69.93 a dollar, up from previous week’s closing of 70.17 amid weak spot in American currency, positive trend in equity markets and fall in crude oil prices.

Auto sales

December auto sales data, which has been weak particularly for four-wheeler industry during festive season, will be closely watched by the Street as it will be a key indicator of an economic slowdown.

Higher cost of ownership, postponement of purchases during elections and selective financing by NBFCs have impacted festive season sales especially during October and November According To Rudra Investment.

Technical Outlook

In the shortened week, the Nifty50 after beating weekly low of 10,534.55 rebounded to trade higher for last three consecutive sessions and hit a weekly high of 10,893.60. The index closed 1 percent superior at 10,859.90 and formed optimistic candle on the weekly scale which resembles a Hammer kind of pattern.