Weekly Review - 05th Dec, 2016

Dear All,

Foreign institutional investors (FIIs) have been continuous sellers since November 9, a day after the government announced demonetisation. FIIs have pulled out Rs 18,800 crore in the previous 17 sessions, one of their longest unbroken selling streaks.

Foreign investors sold shares worth Rs 190 crore on Friday, provisional data provided by stock exchanges showed. Domestic investors, too, were net sellers to the tune of Rs 419 crore.

Investors will react to solid US jobs data, which has strengthened the prospects of rate hike by US Federal Reserve later this month. Investors will also eye developments in Italy, which heads to the polls on Sunday to pass or reject reforms that Prime Minister Matteo Renzi says are needed to move the country forward. RBI’s policy review on December 7 will also be a focal point for investors reeling from the government’s clampdown on high-value currency bills and capital outflows.

>>> Nifty Weekly Chart <<<

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

Last Two Weeks Candle Sticks confirmed a Bullish Trend. Hammer and an Inverted Hammer - on the bottom of the chart suggest a Bullish Reversal.

>>> Nifty Daily Chart <<<

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

Price took support near 7930 was halted near 8250 last week. Since the wave structures are complicated with lot of alternatives - One must be careful with every support and resistance - since the entire market moving highly volatile as per news flow.

>>> Nifty Hourly Chart <<<

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

Bulls must defend 8066 and 8050 for its survival. Else Price may possibly retest its previous low. Resistance 8250 if able to cross again may trigger another round of rally and short covering.

>>> Bank Nifty Weekly Chart <<<

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

Though the Sentiments and news flow are battering the Bank Nifty Index Every day - Chart holding its support 18200 for third time or for the 4th week - shows some light. Above inverted Hammer on BN Index - again give a hope for a Possible Upmove.

>>> Bank Nifty Daily Chart <<<

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

Price if breaks below the channel support - may test 17750-60, Else Bulls may gain strength for a Good Rally.

>>> Bank Nifty Hourly Chart <<<

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

So above count shows a complicated abc-x-abc corrective move, If this is not wrong, expect a bounce any time next week.

>>> AdaniPort - Hourly Chart - Booked Profit Rs.17500/- <<<

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

We have no Open position in AdaniPort - May or may not re-enter as per movement next week. But if breaks below 264 next week, expect more fall.

>>> Performance for the month end of November 2016 <<<

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

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.