Saturday, July 09, 2016

Weekly Review - 11th July, 2016

Dear All,


The Congress is generating political heat and lining up allegations of 'scams' in the run up to the monsoon session of Parliament in which the Modi government's declared priority is 'to isolate Congress' and push the GST bill through

Political circles foresee a stormy monsoon session following Congress raising the carbine issue, even as it persisted with 'telecom scam'. Congress seems to be readying with the 'carbine plank' to return fire after the BJP targeted it over the Agusta-Westland scam in the last session.

Meanwhile The benchmark S&P 500 stock index traded above its record close on Friday as Wall Street rallied after a much-larger-than-expected print in jobs growth confirmed the U.S. economy has regained speed after a first-quarter lull.

After a dismal payrolls report for May that raised concerns about the health of the economy, employers added 287,000 jobs in June, beating market expectations for the first time in four months.

Some analysts said the strong jobs number could put an interest rate hike from the Federal Reserve back on the table, even as concerns linger over the global economic impact from Britain's vote last month to leave the European Union.

>>> Nifty Daily Chart <<<

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

So far price moving as ABC and C wave getting extended on its last leg. Price may face resistance @ 8430 above may test 8630.

>>> Nifty Hourly Chart <<<

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

Above hourly chart - resisted at the middle of the channel and supported @ 8290. More rally above 8360 and 8430.

>>> Bank Nifty Daily Chart <<<

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

Resistance @ 18100 - above, Price may see fresh rally.

>>> Bank Nifty Hourly Chart <<<

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

18100 or 18150 plays a key role as resistance. Above which price may see more rally.

>>> PETRONET - Daily Chart - Correction Ahead <<<

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

We are short in Petronet. Price and RSI suggest a good fall.

>>> WOCKPHARMA - Hourly Chart - More Rally on Card <<<

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

We are long since 920 and if price crosses above 960 - more rally possible till 1000+. Cheers!!!

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

For service related queries - email us to niftyforall@yahoo.com or whatsapp @ 9677924975.