Saturday, November 21, 2015

Weekly Review - 23.11.2015

Dear All,

After Bihar election Loss, disappointed earning from many corporates, Nifty managed to hold 7700 - shows a bounce back on card.

The world financial markets reacted to the Paris attacks and the subsequent action by the French government during the first half of the week. The French capital, Paris was attacked by the militant group, ISIS on Friday, 13 November local time.

But the latter half of the week, the US Federal Reserve, which released its meeting minutes on Wednesday, depicted confidence in the world’s largest economy as it signalled at a possible rate hike in December. Also, if the Fed raises the interest rate in December, it would proceed slowly with the further tightening of its monetary policy, the minutes said. This sentiment uplifted the world stock markets.

Back on the home turf, in a statement released by the Ministry of Finance on Thursday said that the seventh Pay Commission has proposed a 23.55% pay hike to the nearly 4.8million central government employees and nearly 5.5 million central government pensioners. If the recommendations are accepted, the impact on the budget would be of Rs 1.02 lakh crore in FY 16-17.

On economic front, the wholesale price index (WPI) released by the government for the month of October showed a contraction for the 12 straight month. The data stood at negative 3.81% against minus 4.54% in the previous month.

Week Ahead :-

Next week will be a truncated week as markets will remain closed on November 25, 2015 on account of Guru Nanak Jayanti.

Market to watch closely the Winter Session of the Parliament, which will commence on November 26,2015 in the hopes to see the Goods and Services Tax (GST) bill to sail through.

The next bigger event is winter session of parliament and then the crucial Dec Fed policy. If both the events don't shock the markets then we could very well start a steady uptrend.

>>> Nifty Weekly Chart <<<

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

Its very clear how 100 WMA gave support to the bulls last time. So now the Price managed to close above 100 WMA - shows Bulls may gain strength again next week.

>>> Nifty Daily Chart - Posted on Last Weekly Review <<<

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

Last week mentioned 7710 and 7690 as a good support, See what happened.

>>> Nifty Daily Chart - Happened <<<

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

As expected both 7710 and 7690 holding and price started its upward journey.

>>> Nifty Hourly Chart <<<

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

Clearly 100 HMA and 7906 hit the bulls on friday. So if Bulls manage to cross above these levels, Expect next round of rally till the two resistance mentioned on chart.

>>> Bank Nifty Hourly Chart <<<

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

17480 Key Resistance Next week for Bank Nifty, Cross above may trigger a good rally. Else downside may resume again.

>>> Apollo Tyre - Posted on 16th Nov, 2015 <<<

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

Above chart updated on 16th Nov, mentioned that we are long for a rally. See what happened.

>>> Apollo Tyre - Follow Up <<<

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

Price made a high of 163.50, though we send message for profit booking near 165, price returned due to volatile. Many of our clients booked and still we feel the rally to continue till our target 165 or even above.

>>> Adani Port - Posted on 16th Nov, 2015 <<<

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

Posted above chart on 16th Nov, 2015 for a Possible upmove. See what happened.

>>> Adani Port - Happened <<<

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

Made a High of 276.40 and we send Profit Booking Message also. Still Chart says a Break out and Possible rally. Buy on dips advisable for a good target.

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

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