Sunday, July 30, 2017

Weekly Review - 31st July 2017

Dear All,


RBI monetary policy meet:- The biggest determinant of market direction next week will be the Reserve Bank of India's rate-setting meet, which starts on August 1 with results due on August 2 (Wednesday).

Geopolitical tensions:- North Korea on Saturday conducted another successful test of an intercontinental ballistic missile (ICBM) that proved its ability to strike America's mainland, drawing a sharp warning from the US President Donald Trump and a rebuke from China.North Korean leader Kim Jong Un personally supervised the midnight launch of the missile on Friday night and said it was a "stern warning" for the United States that it would not be safe from destruction if it tries to attack, the North's official KCNA news agency was quoted by Reuters in its report.Reacting to it, the United States flew two B-1B bombers over the Korean peninsula in a show of force after recent North Korean missile tests, the US Air Force said in a statement on Sunday. The development will be watched keenly across the globe and is likely to have a bearing on the financial markets, including India.

BoE meet:- The Bank of England will announce its latest policy decision on Thursday (August 3), when it will also release its quarterly Inflation Report. "Most economists expect the Bank to keep rates at their record low to shore up economic growth, though some - notably large Japanese bank Nomura - are calling for a hike," says Reuters in its report.

Global macro cues:- Overseas, China will unveil manufacturing PMI data for July on Sunday, 30 July 2017. Eurozone consumer price index (CPI) data for July will be unveiled on Monday, 31 July 2017. US Non-farm Payrolls data for May will be unveiled on Friday, 4 August 2017 and US Unemployment Rate data for July will be unveiled on Friday, 4 August 2017.


>>> Nifty Weekly Chart <<<

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In Long Run - Above 10000 - Nifty may test 11400 - Provided certain conditions acceptable with Bulls.

>>> Nifty Weekly Chart <<<

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So far ABC wave completed - Looks Like a Correction in needy for the time being.

>>> Nifty Daily Chart <<<

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Price completed 1-5.

>>> BANKNIFTY - Weekly Chart <<<

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Its an ABC Wave again - Price need to trade above the channel for more rally.

>>> BANKNIFTY - Daily Chart <<<

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

RBI Even on Aug 02nd - Holds the Key for BN direction.

>>> CNXIT - Hourly Chart - Key Resistance @ 10720 <<<

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Watch Key Resistance @ 10720 for a Correction for next 400 Points.

>>> CNXPHARMA - Daily Chart <<<

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Looks like a fast break out, Resisted @ 10265 and started falling. Support 9645 & 9450 if breaks - More correction likely. Caution on all Pharma Stocks.

>>> Performance for the month end of July 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