Tension on Korean Peninsula :-
North Korea said on Sunday it has developed an advanced hydrogen bomb that possesses “great destructive power” as US President Donald Trump and Japanese Prime Minister Shinzo Abe talked over phone about the “escalating” nuclear crisis, Reuters reported. The report by North Korea’s official KCNA news agency comes amid heightened regional tension after an earthquake measuring 5.2 struck North Korea on Sunday, suggesting the reclusive country may have conducted a sixth nuclear test. The US Geological Survey said the quake struck 55 km north northwest of Kimchaek. There were no immediate reports of damage or casualties.
Modi’s Cabinet reshuffle :-
As part of his biggest Cabinet reshuffle, Prime Minister Narendra Modi decided to induct nine new ministers while half-a-dozen ministers were relieved from their duties. The government described the motto of the Cabinet reshuffle is Power of 4P: Passion + Proficiency + Political Acumen – for Progress. The political development is likely to have a bearing on the stock market, as a host of recent developments including back-to-back rail accidents, Gorakhpur hospital tragedy and questions over demonetisation have raised many eyebrows on the Modi government’s performance.
US jobs report confusing :-
In a major setback, US jobs growth slowed more than expected in August after two straight months of solid increases. The non-farm payrolls increased by 156,000 in August. Also, the unemployment rate ticked up one-tenth of a percentage point to 4.4 per cent. The US economy created 399,000 jobs in June and July. The numbers are likely to make the US Federal Reserve become cautious about raising interest rates again this year.
ECB monetary policy meet:-
The European Central Bank will hold its two-day rate setting meeting next week with the outcome due on Thursday (September 7, 2017). The bank is likely to maintain a status quo on the interest rate, but some commentary around the bank’s easing policy is expected. According to a Reuters poll, the central bank is likely to announce a reduction of its monthly asset purchases in October. Not only this, the economists who participated in the poll expect the central bank to shut down the programme by the end of next year. In July, the ECB said it had not discussed reducing its asset purchases, also known as quantitative easing (QE), but signalled the change would likely come "this autumn".
Fed speeches to hold key :-
A number of regional Fed presidents are slated to speak next week. According to a report by Financial Times, Fed governor Leal Brainard, Dallas Fed president Robert Kaplan, Minneapolis Fed president Neel Kashkari — all voting members of the monetary policy setting Federal Open market Committee — are slated to deliver remarks on Tuesday. New York Fed president Bill Dudley and Philadelphia Fed president Patrick Harker, fellow voting members of the FOMC, are also scheduled to deliver remarks next week. The speeches are likely to influence investor sentiment. This apart, the US Fed will release Beige Book next week, or the Summary of Commentary on Current Economic Conditions.
>>> Nifty Daily Chart <<<
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Earlier Price made a base for Bulls @ 9685. Previous high 9947 also breaks last week - shows the strength of Bulls. If continues to trades above 9965 & 10040 more rally possible.
>>> Nifty Hourly Chart <<<
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Price crossed 9965 - May test 10000 - 10045 - 10070.
>>> Bank Nifty Daily Chart <<<
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Next Resistance @ 24495.
>>> Bank Nifty Hourly Chart <<<
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Resistance 24496 above may rally further.
>>> Nifty Mid-Cap Index - Daily Chart <<<
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More UPmove possible in Mid Cap Stocks.
>>> CNX - Auto - Index - Daily Chart <<<
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Auto Stocks also ready for more rally.
>>> CNXPharma - Hourly - Posted Last Weekly Review <<<
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Posted - May test 9070 & 9230 .
>>> CNXPharma - Hourly - More Rally Possible <<<
>>> Click the chart to see on full screen <<<
More Rally till 9190 - 9230 - 9290 - 9400. Watch all Pharma Stocks for Rally.
>>> DrReddy - Posted on 13th Aug, 2017 <<<
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Posted on a Weekly Review - DrReddy is a Trun Around Story. See what happened.
>>> DrReddy - More Rally Possible <<<
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We have booked our Long with Rs.23400/- Profit. No HOldings. We may or may not Re-Enter as per movement. Stocks still looking for more Rally.
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