Indian Markets Outlook for the week – 5.Oct.2015 to 09.Oct.2015 (To track global mkts next week; bias positive)

Indian Markets Outlook for the week – 5.Oct.2015 to 09.Oct.2015 

(To track global mkts next week; bias positive)
( www.rupeedesk.in ) 

Traders are likely to watch the movement in global equity market next week due to lack of significant triggers in domestic equities. With no major domestic event in near future, we believe global cues would largely dictate our market trend in coming days.

Markets will be closed on Friday for Gandhi Jayanti. Market participants expect a positive bias but gains are likely to be capped as traders will be on the sideline ahead of corporate earnings for Jul-Sep on Oct 9, a market participant said. IndusInd Bank's results will kick start the earnings season.

The National Stock Exchange's Nifty is seen facing stiff resistance at 8050 points, although 8000 points is a key psychological level. Due to selling at higher levels the index has failed to close over 8000 points over the last one month, despite rising above that level intraday in four sessions during the period.