This week the US Fed will meet to decide interest rates, if any. The US is running at more or less at the highest rate of employment which makes a strong case for interest rate cuts, which if done, would cause some worldwide selling in equities and India will not remain immune. GST rollout will be a massive challenge in a country as large and as India, it will throw up short-term spanners in the growth momentum, just like what demonetisation did during the second last quarter of the previous year.
>>> Nifty Weekly Chart <<<
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Price facing a Crucial Resistance @ 9660-9680 on Weekly Basis. Cross above may trigger a Fresh Rally till 10300 and 11400.
>>> Nifty Daily Chart <<<
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Daily Chart Shows - More Rally coming in Next Week also. Possibly 9800 and 9930. We are Long.
>>> Bank Nifty Weekly <<<
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25950 might be a Possible Target for Bank Nifty as per Weekly Chart.
>>> Bank Nifty Daily Chart <<<
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Price may test 24775 to complete its Wave (c)or(3) on the Daily Chart.
>>> CNX-IT - Weekly Chart <<<
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Price made a Break out on Weekly Chart - Later on made a reversal. Tested 100 and 50 WMA.
>>> CNX-Daily Chart <<<
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Price if manage to get support @ 10330 & 10140, Expect a Reversal, Resistance 10760.
>>> CNX Pharma - Posted on 01st June 2017 <<<
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Posted on 01st June, 2017 - That Pharma has completed its downside - Wrote to Bottom Fishing for all Pharma Stocks.
>>> CNX Pharma - Daily Chart - More Rally Coming <
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Price may rally further till 9950 - Hence Expect more rally on Pharma Stocks too. Buy on Every Dips.
>>> PSU Bank Index - Daily Chart <<<
For the first time, Rs 6,000 crore of bad loans from PSU banks has been put out to auction, and the winning ARC (asset reconstruction company) will have to pay 50 per cent cash upfront and balance 50 per cent in a staggered manner. This is the first concrete action after a long time. If done successfully, it would herald a new chapter in the revival of PSU banks’ fortunes. And shareholders will also rejoice. Even SBI recapitalised itself by coming out with a Rs 15,000 crore QIP, keeping all stakeholder interest in mind.
So let's See how the PSU Bank Index to Perform as per its Index
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PSU Bank Index Support @ 3420, if breaks may test 3150. Expect all PSU Bank to correct.
>>> PFC - Hold Long <<<
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Continue to Hold Long till the price break below the channel support, Break above Resistance may give fresh rally.
>>> Performance till 09th June, 2017 <<<
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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
