Key Factors that may sway your market through the week:-
No love lost between the US & N Korea: Triggering another bout of tension, North Korea testfired a ballistic missile on Saturday shortly after US Secretary of State Rex Tillerson warned that failure to curb Pyongyang's nuclear and ballistic missile programmes could lead to "catastrophic consequences".
However, the US and South Korean officials said the test appeared to have failed, in what would be the North's fourth straight unsuccessful missile test since March.
Earlier on Thursday, the US President Donald Trump had said a "major, major conflict" with North Korea was possible over its nuclear and ballistic missile programmes, while China said the situation on the Korean peninsula could escalate or slip out of control.
Economic data:- Markit Economics will announce the India Manufacturing Purchasing Managers' Index (PMI) data for April 2017 on Tuesday. It will also unveil the results of a monthly survey on the performance of India's services sector in April 2017 on Thursday.
Global cues:- On the global front, a host of economic data is slated to release in the coming week, giving direction to the market movement. First of all, the minutes of the Bank of Japan's (BOJ) Monetary Policy meeting will be released on Monday, May 1. China Caixin manufacturing PMI data for the month of March 2017 will be announced on Tuesday; The US Markit Composite index for the month of April is scheduled to release a day after i.e. on Wednesday. Also, the US nonfarm payrolls data for April 2017 is expected to release on Friday.
Realty Act comes into effect:- The long-awaited Real Estate (Regulation and Development) Act (RERA) will be implemented from May 1. The Act specifies that all existing projects must be registered with the state's regulatory authority by July 2017, and that no new project can be launched without this registration.
Each state and Union Territory will have its own Regulatory Authority (RA) which will frame regulations and rules according to the Act. It’s difficult to comment on the quantum of impact this Act will have on the domestic stocks but realty shares are likely to grab limelight.
OMC and auto stocks to play key role: State-run oil marketing companies (PSU OMCs) will be in focus as PSU oil marketing companies will undertake fuel price revision towards the closing of this month. As reported earlier, they are expected to introduce a daily revision of petrol and diesel prices in select markets, on a pilot basis from May 1.
Auto stocks will be in focus as auto companies will start reporting sales volume data for April 2017, starting from Monday, 1 May 2017.
>>> Nifty Weekly Chart - Posted Last Weekly Review <<<
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Posted Last weekly review - 9120 as a good support.
>>> Nifty Weekly Review - Happened. <<<
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Price managed to Hold 9120 and started bouncing - RSI must support bulls.
>>> Nifty Daily Chart <<<
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On Daily basis - 9350-67 - Crucial Resistance.
>>> Nifty Hourly Chart <<<
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On Hourly Chart - We have two alternative - either it may an ABCDE or 1-5. Price may try to fill the gap left - if breaks below 9300 again.
>>> Bank Nifty Daily Chart <<<
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Its a most Extensive Wave - Hard to count, If this is not wrong - We might see some consolidation.
>>> Bank Nifty Hourly Chart - Posted Last Weekly Review <<<
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Above chart - Posted on last weekly review - Wrote - Looks for a good bounce back. See what happened.
>>> Bank Nifty Hourly Chart - Happened <<<
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BN - above 22340 - may test 22420 or 22590 as shown above.
>>> MindTree - Booked Profit Rs.40,000/- <<<
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Booked Rs.40,000/- Profit on Mind Tree.
>>> Just Dial - Again we are Long <<<
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A week before - after making a good profit, Have re-entered Just Dial again.
>>> INFY - Holding Long <<<
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Continue to Hold Long.
>>> Performance for the month end of Apil 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
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