FOMC meet, macro data, Russia-Ukraine crisis are key factors to drive market next week – Analysts list key Index levels

From key macro numbers to US Fed FOMC assembly scheduled subsequent week can be the important thing drivers of the home market within the holiday-shortened coming week between 14-17 March, a lot of the market analysts stated of their market subsequent week estimates

On account of Holi, the market can be closed on March 18, 2022 – Friday within the subsequent week.

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The markets this week witnessed a good restoration amid volatility, surging over 2 per cent, taking a breather after 4 weeks of slide. The start was downbeat, monitoring information of battle between Russia-Ukraine intensifying, which pushed crude to the $130 per barrel mark.

Consequently, each Sensex and Nifty gained over 2 per cent every to settle at 55,550.3 and 16,630.4 ranges respectively. The broader markets too ended with wholesome good points whereby midcap and smallcap ended with good points of two.5 and 4.2 per cent respectively. 

Within the coming week, the individuals will first react to the IIP knowledge on Monday – March 14, 2022. On the identical day, CPI Inflation and WPI Inflation are additionally scheduled, Ajit Mishra, VP Analysis. Religare Broking stated in his remark.

Among the many vital occasion, he added, the US Fed coverage meet end result on March 16 will likely be carefully watched as the bulk anticipate a 25 bps hike, nonetheless, their commentary on the quantum of future charge hikes can be essential.

Apart from, the updates on Russia-Ukraine stress and its affect on crude will stay in focus.  We really feel individuals ought to proceed with a cautious stance till the prevailing geopolitical stress additional eases, the market analyst stated.

Santosh Meena, Head of Analysis, Swastika Investmart additionally believes, “FOMC assembly and Russia-Ukraine challenge will likely be key international components this week Indian markets rebound after a steady fall for 4 weeks due to some optimistic information flows on the Russia-Ukraine standoff, BJP victory in 4 states, cool off in crude oil costs, and promoting exhaustion.

“There are nonetheless uncertainties on the Russia-Ukraine challenge whereas we may have an vital FOMC assembly end result on sixteenth March amid hyperinflation. Amid all, crude oil costs and FIIs’ conduct will likely be vital triggers to drive the Indian market in a truncated week,” Meena added.

Stating that the prudent strategy is to focus extra on danger administration elements, Mishra talked about, a decisive shut above 16,800 might assist Nifty inch in the direction of the 17,200 zones on the index entrance. Nonetheless, within the case of decline, 16,000-16,200 zone would act as a cushion, he added.

Individuals ought to concentrate on metallic, IT, pharma, and choose power shares for lengthy trades whereas others could proceed to commerce blended, Mishra steered traders for the approaching week.

In line with Meena, “Bulls need to take Nifty above the 17000 degree to come back again aggressively within the sport in any other case there’s a danger that bears could once more develop into lively the place 16300-16250 will likely be a direct and important assist zone then16000-15500 would be the subsequent assist space.”

“By way of Nifty Financial institution, the index additionally witnessed a sensible pullback nonetheless 35500/36000/36500 are vital resistance ranges and it should cross 36500 degree for any significant reversal. 34000 is a direct assist on draw back whereas 33000-32500 is the following assist space” he added.