WEEKLY REPORT [14/12/2015]

                                                                                                                                                                                 DATE: 14/12/2015

FUNDAMENTAL VIEW:

·        The single biggest factor this week is Fed Reserve decision on rate hike, the decision will set the trend of Indian and Global Market.

·        Inflation data for November based on the wholesale price index (WPI) and the consumer price index (CPI) will be out on Monday.

·        Stock markets on Monday may also react to IIP data, which came post market hours on Friday.

·        Indian market will look out for the non-functioning Parliament is an added concern. Investors' focus is on whether the GST Bill will be passed.

·        Chinese trade data exhibited weakness for the fifth consecutive month, adding to nervousness.

·        Crude remained in the limelight after it hit fresh 2009 lows as the International Energy Agency warned of an oversupply situation worsening in the coming year.

·        Industrial output for October expanded by a higher-than-expected 9.8 percent (vs 3.8 percent in September).

·        To protect the domestic steel industry, the government has imposed an anti-dumping duty in the range of 5-57 percent on cold-rolled steel for a period of five years.

·        On the political front, developments in the winter session of parliament, concluding on Dec. 23, will be closely watched.

·        Japanese premier Shinzo Abe’s visit to India will result in a number of announcements, including a bullet train and civil nuclear sector. Japan has also created a fund of $12 billion for the “Make in India” initiative.

TECHNICAL VIEW:

                      

 Positional view:

              Nifty 50

·        As mentioned in our earlier reports nifty is in a downtrend channel we can see 7539-7420-7320-7200 levels in coming days.

·        Last hope of support or a pull back in trend can be 7500-7540 zone.

·        Proper reversal in trend will be on closing basis above 8000.

·        Sell on rise will be still the strategy.

         Bank Nifty

·          Bank nifty too has an important level of 16460...16560.

·          Close above this can show some pull back upto 16800-17000.

·         If faces resistance in this important level (16460-16560) it can be a good selling opportunity for a target of 15900-15800.