Saturday, January 07, 2017

Weekly Review - 09th Jan, 2014

Dear All,

Nifty tested its crucial hurdle at 8,300 in Friday’s session, but couldn’t hold on to it due to profit taking at higher levels. The expert believes the recovery in banking and finance majors along with other heavyweights has raised hopes of further up-move ahead. However, he suggests keeping an extra caution in stock selection as a decent rebound from the bottom has already happened.

Important events of the week :-

Manufacturing activities contracted for the first time in a year, as PMI slipped to 49.6 points in December, down from 52.3 in November. This also marked the biggest month-on-month decline in the index in eight years or since November 2008 when the global economy had slipped into a severe downturn after the Lehman collapse. 
An impasse over the division of administrative turf between the Centre and states, higher compensation due to demonetisation and definition of coastal states persisted at GST Council meet, indicating that a roll-out of the new indirect tax regime is difficult not only from April 1, but also from July 1, 2017. The next meeting will now be held on January 16. 
Shares of information technology (IT) companies came under pressure this week after two US Congressmen reintroduced a bill to curb the use of H-1B visas, on which the Indian IT sector is particularly dependent.
Minutes from the Fed's December meeting showed policymakers were unsure about the potential impact of President-elect Donald Trump's policies on the economy. They noted upside risk to growth forecasts and suggested aggressive path of rate increase if inflationary pressures rise. 


The earnings season for the third quarter will start from next week with companies such as 8kMiles, IndusInd Bank, BajajCorp, Infosys and MCX kicking off the inninigs. Investors will react to Central Statistics Office’s projection of Gross domestic product (GDP) growth data released yesterday, which pegged economic growth at an optimistic 7.1% in 2016-17, lower than 7.6% in the previous financial year. Strong US nonfarm payroll data, out yesterday, will also be a key market trigger. Investors will also await industrial production, manufacturing output and inflation data scheduled to be released on Thursday.

>>> Nifty Daily Chart - Is this a Valid Head & Shoulder <<< 

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

Is this a Valid Head & Shoudler given above ?? If Yes - You know what to do. Nothing more to say.

>>> Nifty Daily Chart <<<

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

Price tested 38.2% retrace or trend line as shown above - raises concern.

>>> Nifty Hourly Chart <<<

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

RSI singals first Bear sign. Price must break below 8210 may give way for next 8150 & 8100.

>>> Bank Nifty Daily Chart <<<

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

Again Bank Nifty on an Important Juncture. Tested 18315 or 23.6%, If cross above may trigger another 400+ Points rally.

>>> Bank Nifty Hourly <<<

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

Cross above 18315 may test next Resistance @ 18500.

>>> Asian Paints - Profit Booked Rs.12000/- <<<

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

Booked Rs.12000/- Profit on Asian Paints.

>>> CoalIndia - Profit Booked Rs.13600/- <<<

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

Made 8 Points or Rs.13600/- Profit.

>>> Divis Lab - Exited with Loss Rs.3000/- <<<

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

Exited with Loss of Rs.3000/-

>>> Performance till 06th Jan, 2017 <<<

>>> Click the image 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