Sunday, May 14, 2017

Weekly Review - 15th May, 2017

Dear All,


Following are the major factor in determining market movement in the coming week.

Economic indicators :-
The two key economic numbers –IIP and inflation – which were released on Friday after market hours are likely to have a bearing on the domestic stock market when it opens for trading on Monday. The CPI-based inflation dropped to a multi-year low of 2.99 per cent in April, putting pressure on RBI to cut interest rate after it took a hawkish stance in last policy review, citing upside risk to prices. Retail inflation stood at 5.47 per cent in April 2016.

On similar lines, the wholesale price index (WPI)-based inflation slipped to a four-month low of 3.85 per cent in April, as both food articles and manufactured items showed cooling in prices.

However, the industrial output data dampened the spirits as the numbers slipped to a four-month low contracting 1.2 per cent in February because of a decline in the manufacturing sector and lower offtake of capital as well as consumer goods, said a PTI report.

The Index of Industrial Production (IIP) had registered a 1.99 per cent growth in February last year. This apart, the government is expected to announce trade data for April on Monday (May 15).

Global cues :-
On the global front, China’s industrial production data for March 2017 is scheduled for release on Monday. US industrial production data for April 2017 is likely to be announced on Tuesday. Japan’s industrial production data for March 2017 is expected on Wednesday and the US initial jobless claims for the week ended May 12, 2017, is coming out on Thursday i.e. May 18.

>>> Nifty Daily Chart <<<

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Above chart waved as 1-5, Need to confirm the end of 5th wave. Possibilities of extension can't be ruled out.

>>> Nifty Hourly Chart - Posted on 11th May, 2017 <<<

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Posted - as the Price Resisted @ 9450.

>>> Nifty Hourly Chart - What's Next <<<

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As expected Price took support @ trend line, a break below, may trigger more correction.

>>> Bank Nifty Daily - Posted Last Weekly Review <<<

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Bank Nifty posted last weekly review - 22920 as a Key Resistance.

>>> Bank Nifty Daily - What's Next <<<

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22920 tested might be an end for wave 3. If the analysis is not wrong - expect a good correction.

>>> Nifty-IT - Hourly Chart <<<

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CNX-IT Looks like some more bullishness left, Possibly may test 10437 & 10580. We Have no Position.

>>> HindZinc - Booked Rs.32000/- <<<

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Booked Rs.32000/-, Though We may re-enter again as per movement.

>>> Tata Elxsi - Daily Chart - We are Long <<<

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We are Long for a Good Rally.

>>> Performance till 12th May, 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