Sunday, April 16, 2017

Weekly Review - 17th April, 2017

Dear All,

Rising geopolitical tensions, disappointing March quarter earnings numbers from InfosysBSE -3.86 % and the double whammy of a contraction in February industrial output and a sharp jump in retail inflation to a five-month high in March were enough to roil the domestic market last week. Not to mention, US President Donald Trump's comment that the dollar was getting ‘too strong’, which put another nail in the coffin.

Among key events, IT bellwether Infosys on Thursday disappointed investors, reporting a 2.83 per cent drop in consolidated net profit at Rs 3,603 crore for the quarter ended March 31 compared with Rs 3,708 crore posted for the sequential quarter ended December 31, 2016.

Will the market manage to beat the blues and make a comeback this coming week? Nobody can say that, but there are a host of triggers that are going to set the mood of the market. Going by the buzz on Dalal Street, here is a list of top five factors that may sway the market next week.

Geopolitical worries: The ongoing geopolitical tension is likely to have a strong impact on global financial markets, including India. The situation took an ugly turn on Tuesday when North Korea warned of a nuclear attack on the US at any sign of American aggression, as a US Navy strike group steamed toward the western Pacific - a force US President Donald Trump described as an "armada".

Trump, who has urged China to do more to rein in its impoverished ally and neighbour, said in a tweet that North Korea was "looking for trouble" and the US would "solve the problem" with or without Beijing's help.

Earnings: A slew of corporate earnings, including those from IT giant Tata Consultancy Services (TCS), are lined up for the week ahead, which may chart market direction during the week.

Inflation number: The government is scheduled to release wholesale price-based inflation for March on Monday (April 17). The WPI inflation stood at 6.55 per cent (provisional) for the month of February 2017 (over February 2016) as compared to 5.25 per cent (provisional) for the previous month and -0.85 per cent during the corresponding month of the previous year.

Global cues: On the global front, China is expected to release industrial production data for February 2017 on Monday whereas the US industrial production data for March 2017 is set to release on Tuesday. In addition, the US Fed's Beige Book is slated to release on Wednesday.

Also, the preliminary Markit PMI Composite index for euro zone 2017 for April is due on Friday, April 21.

>>> Nifty Daily Chart <<<

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After resisting on 9274, Price tested 9150 Support.

>>> Nifty Hourly Chart <<<

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Key Support 9150 if breaks - Next Support 9130 is a Last hope for bulls, Break below may trigger heavy sell off.

>>> Nifty 5 Mins Chart <<<

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

Above given is a 5 mins chart, most complicated wave - where many traders might have hit stop loss on either side. As per, Counted as WXY - must hold 9150 & 9130, Else Sell off may trigger.

>>> Bank Nifty Daily Chart <<<

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Price must Trade above 21780 for fresh rally. Staying below 21700 not a good sign.

>>> Bank Nifty Hourly Chart <<<

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

Support @ 21630 - Below trend line - Price may correct. Above 21780 Possible Rally.

>>> PEL - Posted 06th April, 2017 <<<

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PEL - Mentioned on 06th April as Shorted.

>>> PEL - SL hit and Exited with Loss <<<

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Exited @ 1980 with Rs.9000 Loss.

>>> TechM - Made a Loss or Rs.13200/- <<<

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Entered Long @ 445 and Exited with a Loss at 433 with Rs.13200/-

>>> Coal India - Holding Long <<<

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Holding long for a good Rally.

>>> Performance till 13th April 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

>>> N4A - Services <<<