Earnings, macroeconomic data, global cues, COVID may keep market choppy: Experts

Earnings, macroeconomic data, global cues, COVID may keep market choppy: Experts

The coming week will be driven by the trends in the initial earnings outcome with the IT sector in focus. It will also be a busy week in terms of the release of macroeconomic data points like Inflation data for December and manufacturing and industrial production data for November, said Vinod Nair, Head of Research at Geojit Financial Services





January 10, 2022 / 07:50 AM IST





Indian market kicked start the year 2022 on a robust note with 2 percent gain supported by banking and oil and gas stocks, despite rising concern over the COVID infections and a Hawkish FOMC stance. The BSE Sensex last week added 1,490.83 points (2.55 percent) to end at 59,744.65, while the Nifty50 gained 458.65 points (2.6 percent) to close at 17,812.70 levels.





Palak Kothari, Research Associate at Choice Broking | At present, the index has support at 17,500 levels while resistance comes at 18,000 levels, crossing above the same can show 18,200-18,300 levels. On the other hand, Bank Nifty has support at 36,800 levels while resistance at 38,300 levels.



Mohit Nigam, Head - PMS, Hem Securities | On the technical front, Nifty's immediate support