INSUBCONTINENT EXCLUSIVE:
volatility in the domestic equity markets during the coming week.According to market observers, the last few phases of the general election
and the rupee's movement against the US dollar can also trigger volatility during the week's trade sessions."The main factor at play will be
the trajectory of oil prices," said Joseph Thomas, head research at Emkay Wealth Management."This assumes greater importance due to the fact
that there was a sharp fall of close to two per cent in oil prices on Friday due to the relatively higher probability of Saudi Arabia and
the United Arab Emirates increasing oil supply to bridge the supply gap due to complete of elimination of Iranian oil supply."Apart from oil
prices, India Inc's Q4 result will be major sentiment driver at the Indian equity market."So far Q4 results have been in-line with
Any revival in earnings and potential rate cuts by RBI will help the market to outperform in near term," said Vinod Nair, head of research
at Geojit Financial Services.Companies such as Ambuja Cements, Indian Hotels, TVS Motor Company, Kotak Mahindra Bank, Britannia Industries,
Greaves Cotton, Hindustan Zinc, Tata Power Company and Hindustan Unilever are expected to announce their Q4 earning results in the coming
week."Financial results continue to be the chief source of directional trigger for markets," Sahil Kapoor, chief market strategist,
Expect indices to consolidate and then move up as earnings are beginning to improve."Additionally, investors will look out for upcoming
macro-economic data points such as the eight core industries' (ECI) output, the country's fiscal deficit numbers and PMI manufacturing
figures which will be released during the week starting April 29.On the currency front, Sajal Gupta, head forex and rates, Edelweiss
Securities said: "We remain wary of INR positioning ahead of a domestic event risk in the form of union election outcome on May
23.""Importantly the 'May seasonality' historically has not augured well for INR, with the currency losing around two per cent in the last
nine years in the month of May
We expect USD/INR to range 69.50-70.30 for the week."The rupee on a weekly basis weakened to 70.01-02 per greenback.On technical levels,
Deepak Jasani, head of retail research for HDFC Securities said that NSE Nifty remains in an intermediate uptrend."Technically, with the
Nifty bouncing back and holding above the crucial supports of 11550, the Nifty remains in an intermediate uptrend," Mr Jasani said."Further
upsides are likely in the coming week once the immediate highs of 11,856 are cleared
Crucial supports to watch for a trend reversal remain at 11,550."Get the latest election news, live updates and election schedule for Lok
Sabha Elections 2019 on TheIndianSubcontinent.com/elections
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