Saturday, April 23, 2016

Weekly Review - 25.04.2016

Dear All,


Investments by foreign institutional investors, rupee movement and trends in global markets will be the key drivers of the market in the week ahead.

Axis Bank, Maruti Suzuki India, Bharti Airtel, Yes Bank, ICICI Bank, HCL Technologies, Vedanta, Interglobe Aviation, ACC, UltraTech Cement are few major companies among others that will unveil their Q4 numbers next week.

Markets are likely to remain volatile ahead of the expiry of April derivative contracts on Thursday, April 28.

Besides, the second part of the budget session of Parliament will commence on Monday, April 25.

On the global front, US Federal Reserve will hold its next two-day policy meeting on Tuesday, April 26 and Wednesday, April 27.

In Japan, two-day monetary policy meeting of Bank of Japan (BOJ) will be held on Wednesday, April 27 and Thursday, April 28.

>>> Nifty Weekly Chart <<<

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

Earlier a Bearish Hanging man and followed by a bearish candle formed near 7760 Failed and tested next resistance near 7970-7980. A Red Colour Doji near the Key Resistance should be noted with caution, also Price tested 50WMA.

>>> Nifty Daily Chart <<<

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

7970 acts a key Resistance for the 3rd time. Price must cross above to gain strength for bulls.

>>> Nifty Hourly Chart <<<

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

Price Resisted @ the top of the channel or at 7975. 7870 act as a good support.

>>> Bank Nifty Hourly Chart <<<

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

Above 16750 - Movement till 17000 on the way.

>>> CEATLtd - Booked Profit <<<

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

Booked Rs.35000 Profit on Friday, Still expecting more fall as the price and RSI on the negative side.

>>> RELIANCE INDUSTRIES <<<

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

Better than expected Q4 Results on Friday. But the above chart shows a rosy picture and looks like Price may correct sooner or later - possibly. WE have short position with SL and will decide the status as per Next week movement.

>>> Performance till 22nd April, 2016 <<<

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