Fall in crude oil prices, mixed economic data from major economies along with uncertainty over rate hike by the US Federal Reserve kept Indian equity markets more nervous.
Investors’ attention now has shifted to fourth quarter earnings starting next week after the market discounted the Reserve Bank of India's (RBI's) interest-rate cut that was widely expected.
The RBI policy actions were on expected lines, with a 25 bps rate cut. Overall, we believe that the measures are positive for the fixed-income market and we should see a gradual easing of long-term yields. In the near-term, the equity markets are likely to remain lack-luster as the earnings season kicks in. There would be stock-specific movements as results roll out. Going into May, the global markets will look to further actions by the Fed, ECB and the outcome of the referendum in Britain regarding membership of the European Union. Hence we may see volatility.
Investments by FIIs, trend in global markets will be the key driver of the market in the truncated week ahead.
The markets will remain closed on Thursday and Friday on account of Dr Baba Saheb Ambedkar Jayanti and Ram Navami, respectively.
The government will announce Index of Industrial Production (IIP) data for February and the consumer price index (CPI) data for March 2016 on Tuesday.
The next major trigger for the Indian markets is Q4 results of India Inc. The Q4 results season starts next week with IT major Infosys announcing its Q4 March 2016 results on Friday.
>>> Nifty Weekly Chart - Posted last Weekly Review <<<
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Posted on last weekly review - Hanging man and Death Cross Over. See what happened.
>>> Nifty Weekly Chart - Happened <<<
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Price corrected nearly 235 Point from the high and we expect more correction in the coming week also.
>>> Nifty Daily Chart <<<
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After 7580, next key support shall be 7526-30, if breaks fall to continue, Else expect some bounce.
>>> Bank Nifty Weekly Chart <<<
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Weekly Chart for Nifty Bank - Shows a Bearish Engulfing Candle. Caution advised.
>>> Bank Nifty Daily Chart <<<
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Bank Nifty - after resisted @ 16265 - Price made a fall till 15458. 15600 being a good support must hold next week for an healthy upmove. Else price may test near 15180.
>>> Bank Nifty Hourly Chart <<<
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15600 looks important. lets wait.
>>> Apollo Tyre - Booked Profit <<<
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We Booked our Short in Apollo Tyre with Rs.30K Profit.
>>> LICHSGFIN - Booked Profit <<<
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We Booked our Short in LICHSGFIN with Rs.17600 Profit.
>>> TATAMOTORS - Booked Profit <<<
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We Booked our Long in Tata Motors with Rs.15000/- Profit.
>>> SKSMicro - We have Shorted <<<
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Shorted SKSMicro and Holding for a good correction.
>>> CEAT LTD - We have Shorted <<<
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Shorted CEATLTD at 1097 and test 1077 almost 20 Points down. Holding for more correction.
>>> Performance till 08th April, 2016 <<<
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