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Market forecast - What to expect this week?

12 Dec 2022 , 12:29 PM

Indian equity markets may see some volatility this week. US Federal Reserve will announce its interest rate hike decision this week. Until the decision is announced, there will be uncertainty. If the US Federal Reserve does not moderate its stand on inflation, and goes again for a 75 basis point hike, it will worsen the global economic situation. Indian economy too will be adversely impacted by it. Oil prices continue to come down. This is a positive factor for Indian economy. 

On the global front, Foxconn has  seen a sharp drop in revenues because of the Covid lockdowns in China. According to International Air Transport Association, global airline industry is likely to return to profitability in 2023. The industry as a whole is expected to post profit of $5 billion in 2023, after 3 consecutive years of losses.

On the technical front, Nifty 50 is likely to see support at 18104 and resistance at 18800, this week.  Bullish trend is likely to be seen in Infrastructure stocks, this week. IT stocks may see bearish trend.

A Buy call is being given on the stock of Gujarat Gas, for this week. Target is Rs 560. Stop loss is Rs 500. 

Related Tags

  • BSE
  • nifty
  • NSE
  • sensex
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