On-going earning seasons will continue to add volatility to market in the coming week as the upcoming week will see some of their heavyweights announce their results. Apart from earnings, upcoming Karnataka State will continue to dominate market sentiments. Any new development could swing the sentiments on either sides. Global sentiments could be affected in the coming week on the upcoming Iran nuclear deal ahead of May 12.
Nifty is going through a phase of profit booking and thus losing almost 200 points in the past three trading sessions. However, Nifty has to hold above the 10,500 mark, which is also crucial support zone for Nifty. But Nifty upside is capped around the 11,000 levels.