DATE: 04/01/2016
FUNDAMENTAL VIEW:
• In the upcoming week, Market is expecting a gradual rise in markets backed by greater confidence in corporate earnings in 2016-17.
• Trading this week may be influenced by Purchasing Managers’ Index (PMI) data for services and manufacturing sector.
• The low participation was on account of holidays for FIIs and volumes remained low.
• As for stock-specific activity, aviation stocks had a great run last year and look likely to maintain gains for the first few months of 2016.
• Caution on the sector as Crude might bounce back in 2016.
• Automobile companies reported decent December figures. Eicher Motors sales growth stood at 44 percent year-on-year at 5,068 units. Maruti Suzuki sales were up 8.5 percent, while M&M was up by just 4 percent. Ashok Leyland and Tata Motors are yet to announce their sales for December.
• The triggers for markets are only expected from the second week for January when corporates begin announcing Q3 numbers.
• Among key global data, the Caixin China manufacturing and services PMI data for December is expected this week.
• The Euro zone Market PMI composite index for December is also due.
• In the U S, the crucial non-farm payrolls data for the month is due on Friday.
• Today, China halts stock trading for rest of the day after 7% rout triggers circuit breaker.
TECHNICAL VIEW:
• Nifty is showing a formation of inverse head and shoulder and now is near is stiff resistance
• To complete the head and shoulder pattern formation, It has to come down to form the next shoulder around 7700.
• If breaks the stiff resistance zone of 7940..80..8040 and maintains with closing, we can see it going higher upto 8100..8200..8300
• Nifty can face resistance 7980...8000 zone
• Below 7930 maintains we can see selling to lower levels.......
FUNDAMENTAL VIEW:
• In the upcoming week, Market is expecting a gradual rise in markets backed by greater confidence in corporate earnings in 2016-17.
• Trading this week may be influenced by Purchasing Managers’ Index (PMI) data for services and manufacturing sector.
• The low participation was on account of holidays for FIIs and volumes remained low.
• As for stock-specific activity, aviation stocks had a great run last year and look likely to maintain gains for the first few months of 2016.
• Caution on the sector as Crude might bounce back in 2016.
• Automobile companies reported decent December figures. Eicher Motors sales growth stood at 44 percent year-on-year at 5,068 units. Maruti Suzuki sales were up 8.5 percent, while M&M was up by just 4 percent. Ashok Leyland and Tata Motors are yet to announce their sales for December.
• The triggers for markets are only expected from the second week for January when corporates begin announcing Q3 numbers.
• Among key global data, the Caixin China manufacturing and services PMI data for December is expected this week.
• The Euro zone Market PMI composite index for December is also due.
• In the U S, the crucial non-farm payrolls data for the month is due on Friday.
• Today, China halts stock trading for rest of the day after 7% rout triggers circuit breaker.
TECHNICAL VIEW:
• Nifty is showing a formation of inverse head and shoulder and now is near is stiff resistance
• To complete the head and shoulder pattern formation, It has to come down to form the next shoulder around 7700.
• If breaks the stiff resistance zone of 7940..80..8040 and maintains with closing, we can see it going higher upto 8100..8200..8300
• Nifty can face resistance 7980...8000 zone
• Below 7930 maintains we can see selling to lower levels.......
No comments:
Post a Comment