Strong US markets and stable Asian markets indicate that domestic markets are likely to open on a steady note on Tuesday. With the results is almost over, analysts expect the market to follow global trends.

Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd, Markets will take direction from number of macro events due this week including the US inflation data and the UK GDP data apart from various Federal Reserve speeches. Further this is the last week of the earnings season which would keep the markets volatile. "A lot of stock specific action would be seen in the market," he added.

SGX NIfty at 18,132 indicates that the market will open to stable-to-positive note, as Nifty futures on Monday closed at 18,122. Most Asia-Pacific equities are up, but only marginally in the region of 0.1-0.3 per cent. Korea stocks, however, down by 0.10 per cent in early deals on Tuesday.

According to Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd, “Both the key benchmark indices closed above the psychological mark after a strong rally on Wall Street last Friday boosted sentiment back home. The recent volatile trend continued but the Nifty closing above 18000 mark is broadly positive for the market. On intraday charts, the index has formed a promising higher bottom formation and also formed long leg Hammer candlestick formation. However, the key concern is that the Nifty is still trading below 20-day SMA or below 18100.

Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities, said: "A small positive candle was formed on the daily chart with long lower shadow. Technically, this pattern indicates an upside bounce from the lows and an attempt of upside breakout of the range movement around 18050-18100 levels. This is positive indication and one may expect further upside in the short term."

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