Market Outlook: PMI data, Q4 results key triggers for next week

Last week, Indian equity benchmarks saw positive returns with Sensex and Nifty closing the week with gains of 1.85% and 2.03% respectively. The broader markets were in an uptrend, with Nifty Midcap hitting an all-time high and Nifty's small-cap closing the week at a significant level. Nifty Realty and Nifty Metal also hit record highs, showing a bullish trend in the market.

Key Triggers for Next Week

1. India PMI Manufacturing Data

The release of PMI data for May in India will be closely watched by market experts for insights into the country's manufacturing sector. Any surprises in the data could lead to market volatility.

2. Q4 Corporate Results

Another key trigger for next week will be the release of Q4 corporate results. Investors will be keenly observing the performance of major companies to gauge the overall economic health and the impact on the stock market.

3. US Fed Chair Jerome Powell's Speech

US Fed Chair Jerome Powell is set to deliver a speech on Monday, which is expected to influence market sentiments. Any hints of future monetary policy changes could have a significant impact on the market.

Market Expert's View

According to Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd, the positive momentum in Nifty hints at a potential bullish trend. The market may experience volatility in both directions, with 22,300 acting as the immediate support level and 22,525 and even 22,750 as potential resistance levels.

Market Sentiments and Predictions

The release of PMI data from both the US and India, along with Q4 corporate results, will play a crucial role in shaping the market outlook for the next week. With ongoing uncertainties surrounding election results and quarterly earnings, market experts anticipate continued volatility in the near term.

In conclusion, the market outlook for the next week is filled with anticipation and uncertainty. Investors will need to stay vigilant and make informed decisions based on the upcoming economic data releases and corporate results. As always, it's essential to keep a close eye on market trends and expert opinions to navigate through the volatility effectively.