Saturday, December 17, 2016

Weekly Review - 19th December, 2016

Dear All,

In a unanimous decision, the Federal Open Market Committee (FOMC) raised the target federal funds rate by 25 basis points to between 0.50% and 0.75% and signalled a faster pace of increases in 2017 and 2018, heightening fears that higher interest rates in US would trigger foreign investment outflows from emerging markets including India towards the US.

The wholesale price index (WPI)-based inflation fell to a five-month low of 3.15% in November from 3.39% in the previous month, while the Consumer Price Index (CPI)-based inflation fell to 3.63% in November — a record low in the new series — from 4.2% in October as the rate of rise in food prices were dampened by the cash crunch following the demonetisation of high-value currency notes from November 8 onwards.

The next week will start with yearly deposit growth data along with foreign reserves data, followed by bank loan growth. Globally, the data like US existing home sales and crude oil inventories will remain in focus.

Meanwhile, foreign investors sold over Rs 1280 crore worth of equities in four days to Thursday, data available with National Securities Depository suggested. On Friday, they sold equities worth Rs 90 crore, provisional data available with the BSE showed.

>>> Nifty Weekly Chart <<<

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

Since we have posted a Bullish candle stick formation for last 2 weeks - We need to analyse last formation also. Its an inside candle - Usually an inside Red candle shall be considered negative of the upper side of the chart - Since its formed on the lower side - a chance of 50:50 can be taken. Candle formed between 100 & 50 WMA should be watched. Break above or below may be an trigger for either side.

>>> Nifty Daily Chart <<<

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

Its a painful consolidation week and many traders lost their patience also. Received many suggestion and Target from many traders, even criticism for my bullish view. Even a Negative stance taken by RBI and FED did not trigger a major sell off both times. Means the markets in the hands of Option Writers. A complicated wave move with lot of extensions and changing sub waves keeps changing their respective supports. So far my chart did not suggest a major sell off immediately. Above Pole and flag formation also showing an upmove.

>>> Nifty Hourly Chart <<<

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

Its an Irregular ABC - Hence the probability of B can be till 8080 or 8030 on the downside. Complexity of Wave B movement - give more choppy and pain. So lets wait for Wave B to get complete.

>>> Bank Nifty Daily Chart <<<

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

Lot of Bad News - Expectations - Restless Comments - Ruthless Targets - Bank Nifty Chart - Must be a Most Debated and Argued Chart in recent time I hope. Demonetisation = RBI Disappointment - FED Rate Hike - IT & ED Raids on All Pvt and PSU Banks - All News are factored in the above Chart.
So I feel the above chart - may trigger a rally till 18960 & 19270 till it take the recent low. Hope the W-X-Y count is almost completed and RSI also showing a lot of Positive divergence - If breaks above the trend line - Bulls may gain strength.

>>> CNX - IT - 400 Point Profit and Still Moving UP <<<

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

More rally above 10300.

>>> Oriental Bank Of Commerce - Hourly Chart <<<

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

We are Holding Long in OBC and if the Support holds as shown on above chart - Expect a rally soon.

>>> ACC - Possible Rally Soon <<<

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

Support Line - Must hold for a Good Rally till the top of the channel - We are long and expecting a Rally. Cheers!!!

>>> Performance till 16th Dec, 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

>>> N4A - Services <<<

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