In the week starting tomorrow, May 11, there is going to be significant activity in the stock market. Factors like companies’ fourth quarter results, US-Iran tensions, and foreign investor selling will determine the market direction. Let’s understand what could happen in the market next week Support and Resistance Support Zone: 23,936 | 23,870 | 23,820 | 23,466 | 23,335 | 22,858 Support means the level where a share or index gets support from falling down. Due to increased buying here, the price doesn’t fall easily. There could be a buying opportunity here. Resistance Zone: 24,380 | 24,450 | 24,480 | 24,535 | 24,646 | 24,685 Resistance means the level where a share or index faces obstacles in going up. This happens due to increased selling. Upon crossing the resistance zone, there is hope for a bullish trend. Note: Support and resistance levels are according to Wealth View Analytics report. 5 factors that can determine the market direction: 1. Global Tension Created by Iran-US War The conflict between America and Iran continues, due to which instability persists near the Strait of Hormuz. Washington is still waiting for Tehran’s response so that peace talks can move forward. This geopolitical tension will have a direct impact on Indian market sentiments. 2. Selling by Foreign Investors (FIIs) Foreign Institutional Investors (FIIs) are continuously withdrawing money from the Indian market. Last week they sold shares worth ₹11,072 crores. In the month of May, this figure has now reached ₹14,231 crores. In 2026 so far, foreign investors have made total withdrawals of ₹2.06 lakh crores. Note: Net buying/selling figures of FIIs and DIIs are in crores of rupees. 3. Quarterly Results of Over 400 Companies Most of the large companies in Nifty have already announced their results, but now it’s the turn of mid-sized companies. In the next six days, over 400 companies will announce their January-March quarter results. These include big names like Tata Motors, Bharti Airtel, Cipla, Tata Steel, and Canara Bank. 4. Fluctuations in Crude Oil Prices Crude oil prices in the global market will play a crucial role in determining the direction of the domestic market. On Friday, Brent Crude closed at $101 per barrel. If tensions escalate, oil prices will go up. This will be negative for the Indian economy and stock market. 5. Impact of Global Markets on India On Friday, American markets closed with gains. Nasdaq saw a rise of 1.71%. There, improvement in chip-making companies’ shares and good employment data have boosted investor confidence. Indian markets on Monday may take cues from this surge in American markets. Technical Levels for Next Week Nifty According to Dr. Ravi Singh, Research Head at Master Capital Services, the ‘Buy on Dips’ strategy can be adopted in the market right now. According to him, as long as Nifty remains above 24,000, there is hope for recovery. On the upside, there is strong resistance at 24,500. Choice Broking’s Technical Research Analyst Akash Shah said that on the upside, there is resistance at 24,500 and 24,600. Meanwhile, on the downside, support is visible at 24,000 and 23,800. If the 23,800 level breaks, selling pressure could increase further. Sensex Regarding Sensex, Choice Equity’s Technical Research Analyst Hitesh Telar said that there is good support in the 76,800-77,000 zone. If the market falls, buying could return at this level. Meanwhile, on the upside, resistance is visible around 78,000-78,300. Disclaimer: This article is for informational purposes only. The opinions and advice given above are those of individual analysts or broking companies, not of Dainik Bhaskar. We advise investors to definitely consult certified experts before making any investment decisions.
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