NiftyforAll: Weekly Review

Sunday, April 12, 2015

Weekly Review - 13.04.2015

Dear All,

Markets have registered gains for the second straight week after global rating agency Moody’s raised India’s credit outlook to ‘positive’ from ‘stable’, anticipating policymakers' actions will lift India’s economic growth.

A stellar performance by Reliance Industries’ (RIL) after a significant recent gas discovery, MJ-1, coupled with a strong rally in the fast moving consumer goods (FMCG) stocks on renewed buying interest at attractive valuations lifted the benchmark indices higher.

In the week ended April 10, the 30-share Sensex ended up 619.24 points, or 2.19 per cent, at 28,879.38 and the 50-share Nifty ended up 194.10 points or 2.26 per cent, at 8,780.35.

The broader markets outperformed the benchmark indices as investors bought mid-cap and small-cap shares at attractive valuations. BSE mid-cap index advanced 342.60 points, or 3.19 per cent, and small-cap index gained 699.61 points, or 6.28 per cent.

“The market showed a steady trend last week with a positive bias with buying emerging at every correction. The highlight was, however, the mid-cap and small-cap segments of the market which saw strong buying in several counters. For the coming week, some consolidation could be seen with moves mirroring sentiments post the beginning of the corporate results particularly TCS (Tata Consultancy Services), which could have a bearing on the IT pack. However, positive price action could continue in the mid-cap small-cap segments,” said K Subramanyam, co-head (equity advisory) at Altamount Capital.

Key events of the week
The Reserve Bank of India (RBI) governor Raghuram Rajan on Tuesday held repo rate unchanged at 7.5 per cent, as expected. Further, the cash reserve ratio, which is the amount of deposits that lenders must keep with RBI, was also left unchanged at four per cent. Moody’s ratings revised India’s sovereign rating outlook to ‘positive’ from ‘stable’ on Thursday, a step closer to an upgrade of the credit rating.

According to the Society of Indian Automobile Manufacturers, domestic passenger car sales grew 2.64 per cent to 176,011 units in March from 171,491 units in the same month of last year and motorcycle sales last month dipped 5.22 per cent to 8,59,521 units against 9,06,901 units a year earlier.

Real estate companies’ shares closed higher on the bourses on media reports that the Union government cleared amendments to the Real Estate (Regulation and Development) Bill, 2013, paving the way for legislation on regulators for the sector. Anant Raj, HDIL, Sobha Realty, Oberoi Realty and Unitech gained up to 31 per cent.

Further, markets will react to the industrial production data for February released on Friday after market hours. Also, investors will cautiously await for the consumer price index and the wholesale price index, which will be unveiled next week.

>>> Nifty Weekly Chart <<<

Clear Support taken from 8274, Nifty bounced for the last 2 weeks - Nearly 500 Points.

>>> Nifty Daily Chart - As Posted on 28th March, 2015 <<<

Have wrote 8269-73 as a good Support. See what happened after that.

>>> Nifty Daily Chart - Happened <<<

Yes, We are long from 8450. Now if 8794 crosses - Fresh Rally Possible. RSI on a Break Out.

>>> Nifty Hourly Chart <<<

Moving Average Cross over gives more strength. Price if able to cross above 8794 may trigger Fresh Rally and short covering.

>>> Nifty 5 Minuit Chart <<<

Its an Alternative count for an Uptrend. Possibly it must be right if Nifty cross and holds above 8794.

>>> Bank Nifty Daily Chart <<<

Price still moving inside the channel. 17720 gave support at the channel. We are long since 8000 as on 27th March, 2015. Almost we have a 800 Point gain so far.

>>> Bank Nifty - As Posted on 27th March, 2015 <<<

If you are a regular reader - You must not have forgotten the above chart. See what happened now.

>>> Bank Nifty - Happened and Yet to <<<

100 day moving average and 18800 key resistance. Cross above may move till 19130. Just hold Your longs.

>>> Stock Performance of the Week <<<

>>> ITC - As Posted on 28th March, 2015 <<<

Wrote on 28th March to Buy ITC. See what Happened !

>>> ITC - Happened <<<

Booked Profit @ 346 and Made Rs.30,000.

>>> ALBK - Posted on 08th Apr, 2015 <<<

Wrote on 08th April to Buy Albk. See what happened?

>>> ALBK - Happened and Yet to <<<

Both Price and RSI on a good Break out. Get Ready for a good Rally. Don't forget to buy on dips.

>>> Hindalco - As Posted on 07th April, 2015 <<<