Nifty may soon enter re­sis­tance zone

Financial Chronicle - - MONEY GAME -

first-quar­ter earn­ings failed to stir buy­ing ap­petite on Wall Street, un­der­lin­ing con­cerns about lofty quar­terly ex­pec­ta­tions for Amer­i­can cor­po­ra­tions, high val­u­a­tions and ris­ing geopo­lit­i­cal anx­i­ety in the Mid­dle– East. Trump’s state­ment of ‘mis­sion ac­com­plished’ in Syria makes the street be­lieve that there may not be more bomb­ings. How­ever, this is a de­vel­op­ing story and we will have to watch it. The In­dia Me­te­o­ro­log­i­cal Depart­ment is­sued its first of­fi­cial fore­cast for 2018 mon­soon rains. They are ex­pect­ing mon­soon to be nor­mal for the third year on the trot. A strong sup­port lies in the vicin­ity of 10,300 level for this week. Quar­terly re­sults will be the main driv­ing force be­hind the prices in the near term.”

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