Worry about more post-budget falls in equities

Reuters Posted online: Friday, Jul 11, 2014 at 0000 hrs
Disappointment over the lack of specifics in the federal budget could linger, keeping shares off the record highs hit on July 8. Technically, traders say, the NSE index 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.