Market forecast - What to expect this week?

28 Nov 2022 , 11:47 AM

Indian equity markets may see some gains this week. In China, protests have erupted against the draconian Covid lockdown policy of Chinese government. These disruptions may benefit Indian equity markets. More foreign investors will divert funds to Indian equity markets from Chinese equity markets. 

US non-farm job data for November will come this week.  Black Friday Sales in US are likely to be tepid this year. OECD has said that inflationary pressure has increased. HP has said that it does not expect the Personal Computers business to recover anytime soon in the next year.  Its rival Dell has already reported a significant drop in sales of PCs to both consumers and companies. 

On the technical front, support for Nifty 50 this week is seen at 18170. Resistance is seen at 18600.  Infrastructure stocks are expected to perform well this week.

A BUY call is being given on the stock of Persistent System, for this week. Target price is Rs 4250. Stop Loss is Rs 3840.