INSUBCONTINENT EXCLUSIVE:
election results, any developments on the global trade front and tensions in the Middle East will be other major drivers for the
closely eyeing exit polls, which is scheduled on 19th May
And this may lead to volatility during the week starting May 20," said DK Aggarwal, chairman and managing director, SMC Investments and
Advisors.This week, the pre-election rally in domestic market was cut short by escalation in trade tensions between US and China, along with
mixed Q4 results, and anticipation of a consumption slowdown ahead."After many days of consolidation, Nifty has bounced back from a low of
is eventful given exit polls and final verdict
Market is likely to be indecisive till final outcome is known, while extension of volatility cannot be ruled out," he added.Bharat Forge,
Glaxosmithkline Pharma, Hindustan Petroleum Corp, Tata Motors, DLF, Jindal Steel and Power, BEML, India Cements and NTPC are expected to
announce their earnings for the January-March period during the week.The rupee deprecated by 31 paise to close at 70.23 against the US
dollar on a weekly basis, compared with its close of 69.92 against the greenback the previous week."Next week is a make or break on account
of domestic elections exit polls and actual results markets are factoring a BJP led coalition coming to power, any different result can be a
A positive outcome may lead to a moderate rally in markets," said Sajal Gupta, head forex and rates, Edelweiss Securities.He also said the
rupee is expected to trade between 69.20 and 70.80 against the dollar.In terms of technical charts, the NSE Nifty could head towards the
next major supports of 11,227-11,180 points in the week."Technically, with the Nifty reversing the recent uptrend and entering into a new
downtrend, the index could now head towards the next major supports of 11,227-11,180 in the coming week," said Deepak Jasani, head of retail
research at HDFC Securities."Any pullback rallies could find resistance at 11,358-11,457."Get the latest election news, live updates and
election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections
Like us on Facebook or follow us on Twitter and Instagram for updates from each of the 543 parliamentary seats for the 2019 Indian general
Election results will be out on May 23.
