Sunday, July 23, 2017

Weekly Review - 24th July, 2017

Dear All,


FOMC's rate-setting meeting:- Come Tuesday, and all eyes will be on the Federal Open Markets Committee’s two-day monetary policy meeting. The decision on whether rates will rise or stand still will be known on Wednesday (July 26).

According to a Forbes report, the likelihood of an interest rate hike is pretty remote, based on the CME Fed Funds futures. “But what investors might want to take note of is what language the Fed uses when it explains the decision on interest rates. Typically, even one word change can signal a sea change in Fed outlook.”

Many Fed analysts say they expect the FOMC to take a more hawkish view on raising interest rates, considering what Fed speakers have said in recent trips to the dais and Chairwoman Janet Yellen’s recent testimony. But nothing is done until it’s done, the report says further.

F&O expiry:- The market may remain volatile as traders will roll over futures & options (F&O) positions from the near month July series to August series. The July series derivatives contracts expire on Thursday.

Global cues:- On the global front, Japan Manufacturing PMI data for July 2017 will be released on Monday, July 24, 2017; US Manufacturing PMI data for July will be out on Monday, July 24, 2017, when the minutes of last week’s Bank of Japan monetary policy meeting will also be released.

This apart, UK's GDP figures for the second quarter will be unveiled on Wednesday, i.e. July 26. The economic growth expected to be 1.8% YoY and 0.4% QoQ, with the latter seeing an improvement over the 0.2% of Q1. On Friday, the US is scheduled to release its GDP numbers for Q2. Going by the forecast, the growth is expected to be 1.7 per cent QoQ from 1.4 per cent.

>>> Nifty Daily Chart - Posted Last Weekly Review <<<

>>> Click the chart to see on full screen <<<

Posted on Last Weekly Review - Price may Resist @ 9920 or 9950.

>>> Nifty Daily Chart - Still Resisting Bulls @ 9930 <<<

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Can't Cross above 9930 for the entire week.

>>> Nifty Hourly Chart <<<


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Price must cross and hold above 9930 for a rally towards 10040-45.

>>> BANKNIFTY - Daily Chart <<<

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Key Resistance @ 24300.

>>> BANKNIFTY - Hourly Chart <<<

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Two Possibilities may get resisted near 24300-350.

>>> CNXPSUBANK - Daily Chart - Posted - Last Weekly Review <<<

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Posted on Last Weekly Review - Price might be forming a Head and Shoulder.

>>> CNXPSUBANK - Daily Chart <<<

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3584 High made and Started correcting. If breaks support @ 3484 - then more correction likely. Watch PSU Bank Stocks also.

>>> SBIN - Daily Chart - Correction on Card <<<

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Price looking for a correction. If above analysis is not wrong - Price should not cross above 294 & 300.

>>> CNXIT - Hourly - Posted on Last Weekly Review <<<

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Posted 10610-630 as Resistance.

>>> CNXIT - Hourly Chart <<<

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10790 Next Resistance.

>>> NIFTYMIDCAP50 - Hourly Chart - Posted Last Weekly Review <<<

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Posted on Last Weekly Review - Channel top as a Resistance.

>>> NIFTYMIDCAP50 - Hourly Chart - Resisted @ Channel top <<<

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Started correcting after testing the channel top. Caution advised.

>>> CNXMETAL- Daily Chart <<<

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Previous high 3233 remains as a Resistance.

>>> TATASTEEL - Daily Chart - Holding Short <<<

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>>> CNXAUTO - Daily Chart <<<

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11056 Above more rally.

>>> Performance till 21st July 2017 <<<

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Above performance is not a Promise or guarantee for the given Profits or Loss.Performance given based on 1 lot at a time and clients Profit differ as per the margin availability and Number of Lots taken by them. We may or may not re-enter the Calls given here hit Stop Loss, as per market movement. The charts given above are just for educational purpose only and we don't recommend any Entry / Buy or Exit / Sell. Reader must taken their own decision or consult their qualified Analyst before making any decision

>>> INVESTMENT IDEA - MCDOWELL-N - LONG FROM 2350 <<<

>>> Click the chart to see on full screen <<<

We are Long from 2350 with a Profit of almost 400 Points. On Weekly chart - Good break out Seen. More Rally on Card. Cheers!!!

>>> N4A - Free Updates <<<