WEEKLY REPORT                                                  DATE: 23/05/2016

FUNDAMENTAL VIEW:

·         Market trend for the week ahead will depend upon FPIs Flow, Global events, Greenback & Crude Movement.

·         The market may remain volatile as traders roll over positions in the futures & options (F&O) segment from the near month May series to June series due on Thursday.

·         Investors will closely track the next batch of Q4 results. BPCL, HPCL, IOC,  Tata Power, Cipla, Tech Mahindra, Bajaj Auto, GAIL (India), Tata Steel, L&T, BHEL, SBI and Coal India among others will announce Q4 results this week.

Q4 NUMBERS:                                                          

·         MONDAY: BPCL, DISH TV, TATA POWER.

·         TUESDAY: TECH MAHINDRA, CIPLA, COLGATE, AMARA RAJA BATTERY.

·         WEDNESDAY: L&T, TATA STEEL, ASHOK LEYLAND, BAJAJ AUTO, BOSCH, APOLLO HOSPITAL, ENGINEERS IND, GAIL, GODREJ IND.

·         THURSDAY: ONGC, UNION BANK, UNITED SPIRITS, JET AIRWAYS, TATA CHEMICAL, Titagarh Wagons.

·         FRIDAY: SBI, BEML, BEL, BHEL, CAN BANK, CROMPTON GREAVES, HPCL, IOC.

·         SATURDAY: COAL INDIA, DIVIS LABS, HINDALCO, IFCI, JUBILANT FOOD, NHPC.

GLOBAL EVENTS:

·         Monday: Euro zone Market services, manufacturing and composite PMIs (May, preliminary).

·         Tuesday: German GDP (First Quarter), German ZEW economic sentiment survey (May).

·         Wednesday: Bank of Canada interest rate decision and statement.

·         Thursday: UK GDP (First quarter, preliminary), US durable goods orders (April), US Market services and composite PMI (May, preliminary).

·         Friday: Japan national consumer price index (April), Japan national consumer price index (April)           

TECHNICAL VIEW:

Nifty 50 (7749)

·         Nifty had touched its strong support zone of 7740 on Friday.

·         This week if maintains below 7730..7740 zone on closing basis it enters into a new selling zone and can show 7600.. 7539 soon.

·         If holds it support it can again rise to 7900-7946.