Weekly Market Outlook - Rahul Sharma - Senior Research Analyst at Equity99

"Next batch of January-March 2018 earnings will dictate market sentiments in the coming week.Apart from on-going corporate earning, markets will continue to look at global markets for clues especially crude which has recently hit a three year high.

In the coming week, Bharti Infratel, Bharti Airtel,Bajaj Corp, Ultratech, Wipro, Axis Bank, Biocon, Tata Elxsi, Yes Bank, IDFC, Maruti Suzuki and RBL Bank will come out with their results next week. Focus will will remain management commentary and guidance for year ahead rather then earnings which in turn will fund-managers re-balancing their portfolio accordingly. On Monday, markets will initially respond to HDFC Bank earning announced on Saturday.

Nifty has once again formed a Hanging-Man Candle stick pattern on the daily chart, which is another sign of uncertainty. Going forward, a fresh breakout is likely only if Nifty manages to break and close above the 10,610-10,630 zone, while 10,480 will act as a strong support for Nifty".

Source : Equity Bulls

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