Saturday, July 26, 2014

Weekly Review - 28.07.2014

Dear All,

Out Look for Next Week :-

The Nifty gave a breakout from the 1000-1050 point rising channel once it crossed 6850 in May 2014 before the election results on very good volumes.

Volumes rose sharply thereafter and the Nifty made a high of 7,563 on the day of the election results. After a retracement up to 7120 odd level, the index resumed the uptrend and went on to make a high of 7809 and on Friday it made a fresh record high of 7840.95.

Last Week volumes have dipped in comparison to the prior up-moves. Most of the midcap stocks have failed to participate in the latest rally while a handful of them have actually corrected sharply.

According to most analysts, the hope-based rally is largely over and the markets are likely to consolidate in the near term, but the broader trend for the market largely remains on the upside.

India is the only big emerging economy to escape a cut in the International Monetary Fund's update of its World Economic Outlook that says the global economy seems to have tripped on an unexpected contraction in the US economy in the first quarter, which is a welcome sign.

IMF has retained its forecast of 5.4 per cent growth in the Indian economy in 2015 and a stronger 6.4 per cent growth next year.

Although macro-economic data such as IIP, inflation data points the needle in the right direction, but earnings growth for India Inc is still some quarters away, say analysts.

So lets go to Technicals and see what the Charts Says ....

>>> Nifty - Daily Chart <<<

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

If the above count is not wrong - then expect nifty to perform till or above 8000. Lets see one more probability also.

>>> Alternative Nifty view on Daily Chart <<<

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

of course its a expanding triangle - price got resisted on the top of it. So if Price fails to cross the channel - price may reach till then below channel as shown on chart.

>>> Bank Nifty <<<

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

Nothing more to say than in chart. Lets wait and see.

>>> PERFORMANCE till 25th July 2014 <<<

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

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