Foreign investors turned net buyers for the week, purchasing equities worth nearly Rs 1,300 crore. Till Wednesday, FIIs bought equities worth Rs 1,082 crore, data available with National Securities Depository Ltd (NSDL) showed. On Friday, they were net buyers to the tune of Rs 212 crore, provisional data available with BSE showed.
MARKET NEXT WEEK: Finally, we enter the Budget week with the much-awaited B-day falling on Wednesday. Government’s move on Friday on general anti-avoidance rules (GAAR, on taxes) has set the positive tone for more Budget stimulus, yet the investors are expected to trade sideaways in the two-day to Budget, while the Budget announcements will of course chart the market direction during the rest of the days. Besides, several central banks are scheduled to take a call on interest rates next week.
>>> Nifty Weekly Chart <<<
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Nifty Weekly chart - forming a IHS like Pattern, Price need more confirmation to confirm it.
>>> Nifty Daily Chart <<<
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Break above 8460 confirmed the rally till 8740 or 8760.
>>> Nifty 5 Mins Chart <<<
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Above 5 mins chart - suggest a possible end of wave 3 and price may consolidate for 4th wave. 8597 and 8550 may give support.
>>> Nifty Bank Weekly Chart <<<
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Bank Nifty may test the Trend line and MA's also on the Buy side.
>>> Nifty Bank Hourly Chart <<<
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Nifty Bank Resisted @ channel top and may find its support @ 19545 and 19390.
>>> BIOCON - Daily Chart <<<
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Hope Biocon has topped out as per above chart, Possibly may test the below channel support any time.
>>> AdaniPort - Hourly Chart <<<
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AdaniPort - Price Topped as "ABC" - If unable to cross above - may trigger correction - Cheers!!!
>>> Peformance till 27th Jan, 2017 <<<
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Above performance is not a Pomise 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
