Sunday, March 22, 2015

Weekly Review - 23.03.2015

Dear All,

Despite good news, the markets closed in the red for the second consecutive week and it looks like they are going through a reality check at the moment, analysts across brokerage firms say.

Early this month, the Reserve Bank of India surprised the Street with a rate cut, we witnessed the passage of the Insurance Bill and then we had the FOMC meeting outcome. But all failed to lift the markets.

The Indian markets are likely to remain volatile in the upcoming week as well ahead of the March month F&O expiry due on 26 March 2015. Analysts do not rule out further consolidation in the upcoming week.

If the index fails to decisively close above the 8600 level in the upcoming week, markets could see further decline up to levels of 8500 on the Nifty, and around 300 levels on the Sensex.

Meanwhile Indian Economy expected to clock a growth rate of 7.4 per cent in the current financial year, which is likely to improve further to 8.3 per cent by 2016-17, says an HSBC report.

According to HSBC, India's current account will be in surplus for the quarter ending March 2015 (after 32 consecutive quarters in deficit), and the deficit for the upcoming fiscal year will halve to 0.6 per cent of GDP from 1.1 per cent in the current fiscal year.

"If recovery and job creation are slow, the government could resort to fiscally irresponsible policies," HSBC said, adding that a rapid increase in commodity prices is a key risk and may "destabilise" the macro environment.

The global brokerage said the RBI would cut rates by another 25 bps by June, but cautioned that the space for more aggressive rate cuts is "constrained" by the RBI's explicit mandate to bring the inflation rate to the mid-point of the 4 per cent, +/-2 per cent band by early 2018.

The RBI is scheduled to announce its next bi-monthly policy statement on April 7.


>>> Weekly Chart - As Posted on Last Weekly Review <<<

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

As per our last weekly review - RSI Broken the Trend line, Price need to confirm by breaking the trend line.

>>> Weekly Chart - Happened and Yet to <<<

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

So the Price continue to fall after RSI break down. Though Trend line looks important to confirm the bearish side.

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

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

Wrote last week 8450 as a good support on Daily chart.

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

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

Its a Clear Support @ 8450. Nothing to say more.

>>> Nifty Hourly Chart <<<

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Yes - Its a Irregular correction that usually occurs in an UpTrend. Hence 8450 Should be the Good Support for a Good Buy.

>>> Bank Nifty Hourly Chart <<<

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Looks like a Head and Shoulder Break down. High possibilities of touching the second target @ 17880.

>>> DRREDDY - Posted as on 10th March, 2015 <<<

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We gave a Sell call on DrReddy @ 3468. See what happened ?

>>> DRREDDY Hourly - As Posted on 16th March, 2015 <<<

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Yes, We have booked Rs.21000 in our short given @ 3468.

>>> COLPAL - As Posted on 13th March, 2015 <<<

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Gave a Sell on ColPal as on 10th March, 2015 @ 2105. See what Happened.

>>> COLPAL - Happened and Yet to <<<

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Made a Profit Booking @ 2005 with a Part Profit of Rs.12500. We have shorted @ 2105. More fall likely.

>>> STAR - As Posted on 19th March, 2015 <<<

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Yes We have shorted @ 1178 and wrote to Sell on every rise.

>>> STAR Hourly - Happened and Yet to <<<

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Price Came almost near to the second Target also. More fall likely if breaks the support.


>>> Performance till 20th March, 2015 <<<

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

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