The market may see positive opening on Tuesday after data showed slower growth in US non-farm payrolls in August, which have reduced the chances of a Fed rate hike in the near future. Non-farm payrolls in US rose by 1.51 lakh in August against 2.75 lakh in the previous month, with weakness visible in construction and manufacturing sector hirings. The numbers came in lower than 1.8 lakh jobs anticipated in a Reuters' poll.
All eyes would be on Urjit Patel, the new RBI Governor, who will take charge from Raghuram Rajan on Tuesday. Any comment by the new governor on inflation and banks' asset quality would influence the market mood.
Manufacturing PMI readings in China and similar data in Europe will be keenly tracked on Monday.
The European Central Bank's policy decision on benchmark interest rate and Japanese GDP numbers will be released on Thursday. Chinese CPI and PPI readings and back home industrial production and manufacturing output data for July will sway the market sentiment on Friday.
>>> Nifty Weekly Chart <<<
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Price crossed above first hurdle and may test second hurdle 8844. Above 8844 - More rally and fresh high possible.
>>> Nifty Daily Chart <<<
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After getting support @ 8540, RSI made a fresh break out and rally with Price shows the Strength.
>>> Nifty Hourly Chart <<<
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Price and RSI on the Trend line support must help the bulls to rally.
>>> Bank Nifty Daily Chart <<<
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Price if holds above the channel as shown on chart - more upmove possible.
>>> Bank Nifty Hourly Chart <<<
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Bank NIfty may test 20050 or 20150 near the channel top as shown on chart.
>>> BHARTIARTL - Expecting a Bounce <<<
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After some heavy sell off on RIL AGM Day's - JIO Announcement - Price looking for a possible bounce as shown on chart. We are long and expecting some rally soon.
>>> LUPIN - Possible Upmove <<<
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LUPIN may bouce if price holds the channel support as shown above. We are long and expecting a bounce from here.
>>> Performance for the month end of August, 2016 <<<
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Above performance is not a Promise or guarantee for the given Profits or Loss.Performance given based on 1 lot at a time and clients Profit differ as per the margin availability and Number of Lots taken by them. We may or may not re-enter the Calls given here hit Stop Loss, as per market movement. The charts given above are just for educational purpose only and we don't recommend any Entry / Buy or Exit / Sell. Reader must taken their own decision or consult their qualified Analyst before making any decision.
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