Sunday, February 07, 2016

Weekly Review - 08.02.2016

Dear All,


Last Week :-

The Reserve Bank of India in its sixth bi-monthly monetary policy review maintained status quo on interest rates, with the repo rate kept unchanged at 6.75 per cent and the cash reserve ratio (CRR) unaltered at four per cent. The central bank stated that further rate cuts will depend on reform measures announced in the Union Budget 2016 to be announced on February 29.

On the macroeconomic front, India’s manufacturing data for January expanded to a four-month high, while Services PMI hit a 19-month high, thus showing revival in the sector, seasonally adjusted Nikkei India Manufacturing Purchasing Managers' Index and Nikkei India services purchasing managers' index showed.

Crude oil ended the week lower, snapping two weeks of gains, ahead of the crucial meet between the Opec and non-Opec countries to tackle the supply glut issue.

Week Ahead :-

On Monday, February 8, the market would react to gross domestic product (GDP) data for the quarter ended December 2015. GDP rose 7.4 per cent for the second quarter of financial year 2015-16.

India Ratings and Research (Ind-Ra) in a report said the economy was expected to grow 7.6 per cent in the October-December quarter - which is the fastest pace of expansion in five quarters.

Industrial production data for December, 2015 and CPI data for January will be released on Friday, February 12. Industrial production declined 3.2 per cent in November, 2015, over the year-ago period.

Going into the next week, macroeconomic data, global market trends, investments by foreign institutional investors (FIIs), rupee movement against the dollar and crude price movement will dictate market trends

In the coming week, market participants will eye GDP data on Monday and CPI and IIP data on Friday.

Chinese markets will be closed next week on account of the Lunar New Year.

>>> Nifty Weekly Chart <<<

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A red coloured Hanging man - shows indecision. Next Week Range between 7350 to 7600 to decide.

>>> Nifty Daily Chart <<<

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RSI almost on the verge of Break Out, Price need to break above the trend line for a healthy upmove.

>>> Nifty Hourly Chart <<<

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Key Resistance @ 7505, 7530 & 7545 should be crossed before 7605.

>>> Bank Nifty Daily Chart <<<

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Bullish Candle on Bank Nifty Chart - Shows - it can change the entire market to bullish next week.

>>> Bank Nifty Hourly Chart <<<

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RSI on a Break out, Price need to cross and hold above 50 and 100 hma for a good rally.

>>> Axis Bank - Follow Up <<<

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Have Re-entered Axis Bank again. Key Resistance 404, If crosses, More rally on card.

>>> AdaniEnt - Follow Up <<<

>>> click the chart to see on fulls screen <<<

Holding Long in Adani Ent. Waiting for Trend line break out to rally.

>>> SIEMENS - Hourly Chart - Long <<<

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Break out from the wedge. We are Long. Lets Wait and See. Cheers!!!

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