Sunday, August 14, 2016

Weekly Review 16th August, 2016

Dear All,


Inflation and industrial production data:- The market will react to July inflation data as well as industrial output data for June, which came after market hours on Friday. Consumer price inflation rose at the faster-than-expected pace to 6.07 per cent in July, up from 5.77 per cent in June, government data showed on Friday. India's industrial output rose 2.1 per cent in June from a year earlier, driven by consumer durables and electricity production.

Minutes of July US Fed policy meet:- Market participants across the globe will keep a close eye on the minutes of the July policy meet of the US Fed, which will be released on August 17, Wednesday.

The minutes of the Fed's July policy meeting may come under scrutiny given that the central bank has only one opportunity left at its meeting next meeting to raise rates before the November presidential election, said a media report.

In July, the US Fed left key benchmark policy rates unchanged at 0.2 per cent while saying that the 'near-term risks' to the economy have diminished.

WPI Inflation:- India's wholesale price index-based (WPI-based) inflation, which accelerated in June from the previous month, will be in focus. The index touched a 20-month high last month as prices of fruits, vegetables and cereals continued to rise.

Data released by the Department of Industrial Policy and Promotion showed that WPI-based inflation quickened to 1.62 per cent in June from 0.79 per cent recorded in the month of May.


>>> Nifty Weekly Chart <<<

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

Weekly Chart on Nifty shows a Second time Hanging Man on the top of the channel. Bulls having lot of strength to move up the price, as RSI also gave a Break out from trend line. Lot of positive sentiments and FII's continue to remain on the BUY Side. Only a Strong Sell off or a Big Bad News can Revert the Market, Until then Bulls may remain with its upper hand.

>>> Nifty Hourly Chart <<<

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Price of Nifty Hourly Chart - Inside a Expanding like triangle. If 8685 Crosses, may test 8750.

>>> Bank Nifty Weekly Chart <<<

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Last two weeks its a Clear Hanging man on the top and continuously last 5 weeks unable to cross above 19150.

>>> Bank Nifty Hourly Chart <<<

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Unlike Weekly Chart of BN - Hourly give a different picture. Price if breaks above the channel as shown on chart - Expect some short covering and rally too.

>>> SBIN - Posted Last Weekly Review <<<

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Last Weekly Review - Wrote 235.50 as a Key Resistance - Price crossed and We exited our Shorts with Loss. So what's Next ?

>>> SBIN - Follow Up <<<

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After results declared on friday - Price continue to raise in the wedge as shown above. Price needs to test 254 resistance or top of the channel. If crosses above the channel - Price may give a fresh rally also. We may or may not enter either short or long again as per movement.

>>> CENTURYTEX - Posted on 09th Aug, 2016 <<<

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Wrote - CenturyTex may have a correction soon.

>>> CENTURYTEX - Booked Profit Rs.44000/- <<<

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Booked Profit Rs.44000/-

>>> ASIANPAINT - Hold Shorts <<<

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Holding the short.

>>> Performance till 12th Aug, 2016 <<<

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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.