Saturday, January 23, 2016

Weekly Review - 25.01.2016

Dear All,

Indian equity markets are likely to be volatile ahead of the expiry of January 2015 derivative contracts while the next batch of third quarter earnings from large corporates will also dictate the trend.

However, global markets rebounded later during the week when European Central Bank Chief Mario Draghi hinted at injection of stimulus into the European economy and oil prices staged a recovery.

On the global front, the forthcoming two-day policy meeting of the US Federal Reserve starting January 26 will be something which will be tracked by market participants across the globe. The meeting of Bank of Japan will also be tracked by investors across global markets.

Last week global markets bounced back after European Central Bank (ECB) President Mario Draghi signalled the prospects of further monetary stimulus for the euro zone economy. The ECB left key interest rates unchanged after a monetary policy review.

The US Fed is also likely to keep interest rates unchanged largely on concerns around a slowdown in the global economy, China jitters and a relentless fall in crude oil prices throughout last week.

"Markets would also keep a close vigil on the two-day monetary policy meeting of Bank of Japan that will end on January 29, in which it is expected that add more to quantitative easing," the report said.

Foreign institutional investors (FIIs) largely remained on the sell side of Indian equities. They sold close to Rs 6,500 crore worth of stocks last week.

Rupee Falling in line with the local stock markets, the Indian currency also suffered losses. The Indian rupee during the week breached the 68-mark against the American currency for the first time since September 4, 2013. The fall in the rupee is attributed mainly to devaluation of Chinese Yuan, relentless drop in the oil prices, and the outflow of capital by the Foreign Institutional Investor.

During the week, the crude oil prices crashed below $27/barrel, lowest since 2003 on persistent worries of slowing demand. Further, the addition of Iranian oil after its international sanctions were lifted over the weekend added woes to the supply glut. However, crude oil prices staged a recovery later in the week with both the Nymex and Brent crude quoting above $30 a barrel as severe cold weather conditions in the US and Europe boosted demand.

Prominent companies from the Sensex pack such as HDFC twins, Maruti Suzuki, ICICI Bank, Bharti Airtel, NTPC, and L&T will announce their December quarter results during the week.

>>> Nifty Weekly Chart <<<

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

Bullish Dragon Fly Doji - Shows - More Recovery on Next Week Also.

>>> Nifty Daily Chart <<<

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

Daily Chart - Shows a False Break Out - Means many traders might have Hit SL or might have wrongly entered a Short Positions. We advice them caution, as Bulls may trap them Next Week.

>>> Nifty Hourly Chart <<<

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

Yes - We have mentioned on our previous updates also - We are long on Nifty. Just Hold it for a good Rally as per target.

>>> Bank Nifty Daily <<<

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

Bank Nifty Completed Wave C, Extended till 161.8% of Wave A. If the above chart and counts are not wrong - get ready for a rally. We are long in Bank Nifty also.

>>> Bank Nifty Hourly Chart <<<

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

Hourly Chart on a clear break out from Falling Wedge. Cross above 50 HMA may trigger more rally till 100 HMA also. Hold Long and Enjoy the rally.

>>> AXISBANK Daily - Posted 19th Jan, 2016 <<<

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

Posted on 19th Jan, WE are long in Axis Bank. You all know what happened Friday, Stock Rallied heavily after Quarterly Result. So what's Next.

>>> AXISBANK - Whats Next ??? <<<

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

Clear Break on RSI - If holds, More Rally above the trend line on price chart also. We are long from 390 with almost a profit of Rs.35000/-

>>> ADANIENT - Posted on 20th Jan, 2016 <<<

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

Wrote we are long in ADANIENT - Mentioned - an Expanding Triangle - may give support for price.

>>> ADANIENT - Hold Long <<<

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

Price started moving from the channel support. Hold you long for more rally.

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