Saturday, October 21, 2017

Weekly Review - 23rd Oct, 2017

Dear All,

F&O Expiry :-

Futures and options contracts for October series on the National Stock Exchange will expire on Thursday in the coming week and traders will roll over their positions in November series.Maximum call open interest (OI) of 46.7 lakh contracts stands at strike price 10,200, which will act as a crucial resistance level for the index in the October series, followed by 10,300, which now holds 38.71 lakh contracts in open interest.
Maximum Put OI of 75.18 lakh contracts was seen at strike price 10,000, which will act as a crucial base for the index in October series, followed by 10,100, which now holds 45.59 lakh contracts.

Statistics :-

Bank loan and deposits growth data for the week ended October 13 will be announced on October 27. Bank loan growth was 6.9 percent and deposits growth was 8.7 percent in previous week. On the same date after market hours, the data of foreign exchange reserves for the week ended October 20 will also be released.

Global cues :-

In the US, Markit Manufacturing and Services PMI flash data for October will be released on Tuesday; new home sales data for September on Wednesday; initial jobless claims for the week ended October 21 and pending home sales data for September on Thursday; and Q3 GDP growth rate QoQ will be announced on Friday.
Japan's manufacturing PMI for October is expected to release on Tuesday and National Core CPI for September on Friday.
In Europe, manufacturing and services PMI for October will be unveiled on Tuesday and European Central Bank's rate decision will be announced on Thursday.

Infosys Results on October 24th :-

Infosys, which normally kicks off the earnings season, postponed its results announcement date. It will deliver results for July-September quarter on October 24, around 15:45 hours IST.The key thing to watch out for would be commentary from new interim CEO UB Pravin Rao and Co-founder Nandan Nikekani who was appointed as Non-Executive Chairman of the company on August 24, after Vishal Sikka resigned as CEO and MD."Key issues to watch out for would be an update on internal stability of the company; commentary around contribution of newly launched services, and revenue scale and growth from products and solutions; and commentary around macro, verticals, margins and pricing," Motilal Oswal said. Motilal Oswal expects Infosys to report 2 percent growth in constant currency revenue in Q2 QoQ while ICICIdirect sees constant currency revenue growth at 2.5 percent QoQ against 2.7 percent in Q1. The country's second largest software company had been in focus due to the fight between the board members and Co-founder Narayana Murthy over corporate governance standards.

>>> INFY - Daily Chart - Posted on 16th Sep, 2017 <<<

>>> Click the chart to see on full screen <<<
Posted on 16th Sep, 2017 - Price may test 930 & 967.

>>> INFY = What to Expect before or After Result :-

>>> Click the chart to see on full screen <<<
Break on either side may decide the trend.

A lack of earnings visibility and high valuations cloud the outlook for Indian stocks in Samvat 2074.

Although the Sensex and Nifty have rallied 16.67% and 18.38% respectively in the just-ended Samvat, muted corporate earnings have raised concerns on valuations which may have led to the flight of foreign money in the latter part of the year. Fund flows from foreign institutional investors amounted to $865.7 million in Samvat 2073, down 85% from the previous year. That the markets continued to rally was due to robust investments by local mutual funds and insurance companies. Domestic institutional investments in local equities grew 339.01% from a year ago to Rs97,597.15 crore.

While it is possible that investor sentiment may remain positive as long as domestic flows remain robust, such a rally won’t be sustainable, analysts said.

The wait for an earnings recovery may well take some time. Despite some recent positive economic indicators, such as industrial production growth rebounding to a nine-month high of 4.3% in August and merchandise exports surging 25.7% in September, the fastest in six months, slowing economic growth is weighing on investor sentiment and earnings.

A few analysts are also predicting that the GST rollout will eventually boost growth by lowering logistics costs, arresting tax leakages and prompting companies to pass on more cost savings to consumers.

>>> Nifty Daily Chart <<<

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

After testing crucial resistance @ 10250 - Price corrected and tested below 10140 support - May Possibly test 10100 & 10070.

>>> Nifty Hourly Chart <<<

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

Consolidation for wave (iv) may get support @ 10140 - 10100 - 10070. Resistance remains @ 10250.

>>> BankNifty Daily Chart <<<

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

Two Possibilities on Daily and Hourly explained here. If WXY wave - Might test 23900 - 23640 - 23300.

>>> BankNifty Hourly Chart <<<

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

Next Alternative ABCDE - Both looks for correction. Break below the Last support may trigger Fresh Selling.

>>> CNX - PSUBANK - Daily Chart <<<

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

2900 is a must for PSU Bank Index - If breaks - More sell off Possible in all PSU Bank Stocks and BN Index.

>>> SBIN - Hourly Chart <<<

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

Channel Support may halt the Correction of Indian PSU Giant Bank. We have no Positions now.

>>> CNXIT - Daily Chart <<<

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

IT Index on a consolidation. Support 10890 if breaks may test 10820 & 10760.

>>> TECHM - Hourly Chart <<<

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

Channel support if holds - Expect a bounce back rally on TechM. We have no Position.

>>> CNXPharma - Hourly Chart <<<

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

Pharma Index Support @ 9570 if breaks - may test 9456-60. Pharma Stock may correct or consolidate.

>>> DrReddy - Hourly Chart <<<

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

Make or Break for DFL. Support @ 2350 and Resistance @ 2430.

>>> NiftyMidCap50 - Hourly Chart <<<

>>> Click the chart to see on full screen <<<
Watch all midcap stocks for a volatile move ahead.

>>> Performance till 19th Oct, 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 @ Whatsapp <<<

For our Service details - Ping @ whatsapp. New Clients Registration should be send with Name. Existing Registered members - If not getting message - shall ping again and check your mobile to save our Number also.