Saturday, September 16, 2017

Weekly Review - 18th September, 2017

Dear All,


Monsoon Update :-

The Street will closely look at the data released by weather authorities such as the India Meteorological Department (IMD) and entities such as Skymet.
As per a report by Kotak Institutional Equities, the as of September 13, rainfall has been 6 percent below normal, with weekly rainfall being 31.4 percent below normal. This could be taken note of by investors who had placed their bets on good monsoon to be a driver for rural, agri and consumer stocks. They had seen a rally since May when the first forecast reports were out.

Macro data :-

In the US, Markit Composite, manufacturing and Services PMI data for September 2017 will be unveiled on Friday. Also, In Europe, manufacturing and services PMI releases from France, Germany, and the Eurozone as a whole will be released on Friday.
Among other things, India is set to release its current account data for the second quarter, while Europe and US will declare its CPI numbers and the housing market index. Along with it, US will also announce crude oil inventory data, while Bank of Japan will hold its monetary policy meeting. There could be announcements on rate action front there.

FOMC meet :-

The market here could look out for cues from the meeting of Federal Open Market Committee meeting. The US central bank could start cutting its balance sheet, but rate hike expectations are nil for this meeting.
"The Fed's tone and stance during next week's FOMC statement and press conference will play a major role in setting expectations for interest rates, the Fed's balance sheet reduction plans, and the U.S. dollar going forward," said James Chen, head of research at Forex.com in Bedminster, New Jersey, reported CNBC.

Global cues :-

The Street could keep a track of geopolitical movements as well. Over the past week, there were active developments on the North Korean front, which kept the market on its feet. In fact, the rogue nation’s leader also fired a missile which flew over Japan, leading to some panic in the market.
Such tensions do not look like they will ebb for a while. War of words between different leaders continue and any other retaliation from either of the countries involved in the conflict could further spook the markets. Having said that, experts also said that the impact on the market is also getting lighter.
Market expert Ambareesh Baliga also pointed out that Germany’s Federal elections slated will be held on Sunday, September 24. The event will select the member of the government which will have ramifications on who will get elected as German Chancellor.

>>> Nifty Daily Chart <<<

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


Above 10131 > May test New High. Price moving as ABCDE, Wave E may test New High with fresh rally.

>>> Nifty Hourly Chart <<<

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


Price Resisted Near 10115 - must cross again to test 10130 & 10180. Support remains @ 10050 & 10000.

>>> Bank Nifty Daily Chart <<<

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

Price need to cross above 24995 for a healthy rally.

>>> Bank Nifty Hourly Chart <<<

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Support 24790-820 if Breaks - may test 24710 & 24620.

>>> CNX PSU Bank Nifty - Hourly Chart <<<

>>> Click the chart to see on full screen <<<
Possible Rally till or above channel expected. PSU banking stocks may rally more.

>>> SBIN - Posted on 12th Sep, 2017 <<<

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Wrote on 12th Sep - SBIN may rally if breaks above the triangle like pattern.

>>> SBIN - Consolidation Happening <<<

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More Consolidation expected - may test the below support line also. We have Exited our Long.

>>> BankBaroda - Posted on 12th Sep 2017 <<<

>>> Click the chart to see on full screen <<<
Posted as Holding Long on BOB.

>>> BankBaroda - More Rally Possible <<<

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Resistance @ 149 & 151 > Above More Rally possible.

>>> CNXPharma - Above 9395 More 300 Points Rally Possible <<<

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More Rally above 9395. Watch again all Pharma Stocks - Rally coming.

>>> SUNPHARAMA - Daily Chart - Break Out on Card <<<

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Sunpharma - Getting Ready for a BreakOut from Falling Wedge. We don't have any Long.

>>> CNXIT - Daily Chart <<<

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IT Index turning Bullish - If holds 10420 - Expect a Good Rally. Watch all IT Stocks.

>>> INFY - Upmove Possible <<<

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Expect Price to test 930 & 967 on the Upperside.

>>> CNXMETAL - Daily Chart <<<

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Caution advised on Metal Stocks.

>>> NiftyMidCap50 -Daily Chart - Posted on 02nd Sep, 2017 <<<

>>> Click the chart to see on full screen <<<
Have wrote on 02nd Sep 2017 > MidCap to Rally till 4900. See what happened.

>>> NiftyMidCap50 - Daily Chart

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Above 4960 > 100 Points rally possible.

>>> Performance till 15th Sep, 2017 <<<

>>> 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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