Sunday, August 21, 2016

Weekly Review - 22nd August, 2016

Dear All,

August F&O expiry: Investors are advised to tread with caution as the market is likely to turn volatile in the coming week amid the expiry of August series derivative contracts, as traders roll over positions to the September series.

Urjit Patel new RBI Governor: The government late Saturday announced the appointment of Urjit Patel, the current Deputy Governor of RBI, to take over the reins of RBI from Raghuram Rajan, when the later ends his term on September 4.

Fed Meeting :- All eyes will be on Janet Yellen speech in the upcoming Jackson Hole symposium on Friday. The minutes from the July 26-27 policy meeting showed that rate-setters were split over the necessity of tightening policy soon.

A recent batch of strong US employment data fuelled expectations that the central bank could raise policy rates in September, however, a clarity is something which is still missing amid mixed views from policy makers. Yellen, though, is likely to reassure market participants across the globe of a slower pace of rate increase.

>>> Nifty Weekly Chart <<<

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

A Doji followed by a hanging man, can be a reversal of bearish trend created by hanging man previous week. Volatile and Choppiness to continue, until a clear confirmation on either side.

>>> Nifty Daily Chart <<<

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

8720 and 8685 play an important resistance on Daily chart.

>>> Nifty Hourly Chart <<<

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

Hourly chart - shows Bears giving a danger signal. Break below the trend line may trigger a big or good sell off any time. 8720 and 8685 may resist Bulls.

>>> Bank Nifty Daily Chart <<<

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

After breaking 19150 price made a DOJI on the top of the chart, hope there can be a bit consolidation too.

>>> Bank Nifty Hourly Chart <<<

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

19480-90 may resist bank nifty.