Saturday, October 22, 2016

Weekly Review 24th October, 2016

Dear All,


The week started with a bearish undertone in continuation of the corrective phase of the market, but the Nifty50 smartly turned around midway through the week and closed in the positive territory. The first round of earnings was out.

The ongoing earnings season and the festivities will keep the mood of the market buoyant on expectations that cash from kharif crops and the seventh Pay Commission award will kickstart the consumer spending cycle.

Generally, the Q2 results season does not cause much of price volatility as majority of the expectations is priced in, only surprises are reacted to favourably or unfavourably as the case maybe.

The government has stipulated GST rates progressively at 6 per cent, 12 per cent, 18 per cent and 26 per cent, considering the depth of the consumer pockets to pay. Luxury is taxed at highest rates, whereas necessities in many cases are keep out of the tax net.

The most viewed US Presidential debates have polarised the candidates strongly and, therefore, this time the outcome will be watched keenly across the world, as both the candidates have diametrically opposite views on many of the development issues.

Meanwhile, as widely expected, the European Central Bank (ECB) kept the policy rate unchanged after a meeting yesterday. Though ECB left its ultra-loose monetary policy unchanged, President Mario Draghi said the European region's central bank had left the door open to more monetary stimulus.


Data collated by Emerging Portfolio Fund Research (EPFR) shows that global funds have reduced allocation to India in the past three months.

Global emerging market funds reduced their exposure to 11.3% in end-August, from 12.1% in end-May.

Likewise, funds dedicated for investments in the Asia ex-Japan region reduced exposure to 13.6% from 14.1% during the same period.

Market participants point out that this is largely because of profit-booking, given the sustained rise in Indian stocks this year.

>>> Nifty Daily Chart <<<

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

Pattern looks like an H&S - Hence price need to cross above 8740 for a break out. Fails to cross above 8740 may give a high chance of break down below 8520 or 8450 sooner or later.

>>> Nifty Hourly Chart <<<

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

8704 & 8740 - Important Resistance - Cross above these levels

>>> Bank Nifty Daily Chart <<<

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

Price so far moved as abc. Earlier made a break down and followed by a throw back. Price will face resistance @ 19720 and cross above may see a rally till 19900 and 20200.

>>> Bank Nifty Hourly Chart <<<

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

Price shows a Break out on Hourly chart and if manage to hold above 19720 - Rally may extend further.

>>> TechM - Posted on 18th Oct, 2016 <<<

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

Wrote on 18th Oct, 2016 - We are Holding with a Profit of Rs.14300 for more rally. See what happened.

>>> TechM - Profit so Rs.30,000/- & Far Still Holding for More Profit <<<

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

Yes, We are almost with a Profit of Rs.30,000/- and looking for more rally to come. Price may possibly test the upper channel as shown on chart.

>>> DRReddy's Lab - Hourly Chart - Posted on 13th Oct, 2016 <<<

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

Posted on 13th Oct, 2016 - Wrote for a good Rally. See what happened.

>>> DrReddy's Lab - Holding with a Profit of Rs.12000/- for more rally <<<

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

Price Broken out - as per above chart. So Look our for more rally next week also.

>>> Performance till 21st Oct, 2016 <<<

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


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

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