Markets are choppy last week and unable to move further. So what else left for next week as its going to be an expiry week also.
Technically RSI in over bot zone may give some correction before next upmove.
What are the other factors to consider for bulls to continue its journey.
1) Fed started talking about rate hike next Year in early Jan may not be a threat for now, though it must be watched cautiously how other countries move to protect their currencies. So expect some hawkish movement in all world currencies soon.
2) RBI still not satisfied with Inflation it seems, may not be interested in a rate cut.
3) Some more bad news coming about PSU banks still not good for Bank Index.
4) Improved economic data across the board is unlikely to prompt RBI to ease rates at its April 1 policy meeting, as core inflation remains sticky and prices could flare due to recent weather disruptions.
So lets see INR Chart also how its going to be move next...
>>> INR/USD Weekly Chart <<<
>>> Click the chart to see on full screen <<<
Above is a Weekly Chart of INR/USD - and I feel like 60 is going to be an important support on weekly basis, if unable to break may resume the fall on INR once again, which is definitely going to impact our equity market again.
>>> Nifty - Weekly Chart <<<
>>> Click the chart to see on full screen <<<
In our last Weekly Review mentioned on our weekly chart - that a Doji candle visible. This week followed by a red candle below the channel shows some thing bulls are missing to push above the channel line.
Nothing more visible on Daily Chart - So lets pass onto Hourly Chart.
>>> Nifty - Hourly - As updated on Last weekly Review <<<
>>> Click the chart to see on full screen <<<
Last Week wrote we are long on Nifty.
>>> Happened and Yet to <<<
>>> Click the chart to see on full screen <<<
We booked our long with 140 points. Next week if Price breaks the trend line and able to trade below the supports like 6487 and 6463 then stay cautious with your longs.
>>> Best of Last Week <<<
>>> Voltas <<<
>>> Click the chart to see on full screen <<<
>>> Crompton Greaves <<<
>>> Click the chart to see on full screen <<<
>>> Bata India <<<
>>> Click the chart to see on full screen <<<
>>> Hindustan UniLever <<<
>>> Click the chart to see on full screen <<<
>>> Worst of the Week <<<
>>> Tata Comm <<<
>>> Click the chart to see on full screen <<<
>>> Performance <<<
>>>click the image to see on full screen <<<
