Market Weekahead: Worry about more post-budget falls in equities

REUTERS - * Disappointment over the lack of specifics in the budget could linger, keeping shares off the record highs hit on July 8.

* Technically, traders say, the Nifty still looks over stretched, with some technical patterns such as "double top" advocating a potential move to the 7,250-7,300 range from its 7,459.60 close on Friday.

* April-June earnings, including from Tata Consultancy Services , and inflation data will influence trading.

* Concerns about contagion from Portugal's banking sector could weigh, traders add.

KEY FACTORS/EVENTS TO WATCH

Monday: May WPI (1200 India time)

May CPI (1730 India time)

Wed: Kotak Mahindra Bank Ltd earnings

Thurs: Tata Consultancy Services and Bajaj Auto Ltd's earnings

 

Fri: Reliance Infrastructure Ltd and Reliance Power Ltd's earnings

(Reporting by Abhishek Vishnoi)