WEEKLY REPORT

                                                                WEEKLY REPORT                                                     

DATE: 18/01/2016

TECHNICAL VIEW:

·         In the upcoming week, Market will eye on Q3 figures of a number of large companies like RIL, HCL Tech, Axis Bank, Kotak Mahindra Bank, Wipro, Ultratech Cement, Cairn India, Idea Cellular, ITC and Asian Paints.

·         The week is also scheduled for Release of Chinese economic data, tumbling oil prices and a US public holiday which will add to the uncertainty around global markets.

·         Another Market setter is the Federal Reserve's rate setting meeting scheduled for January 27-28.

·         Some of the World Economic Numbers are:- CPI data from the US, Chinese IIP and GDP data and inflation and jobless claims data from the UK, ECB’s monetary policy statement, Eurozone Market PMI Composite data for December 2015.

·         The union budget will be presented on February 29.

·         Some of the Economic data from US :-

·         Monday- US markets closed for Martin Luther Holiday

·         Tuesday-Housing Market Index

·         Wednesday- CPI, Housing starts

·         Thursday- Jobless claims, Philadelphia Fed business outlook survey, Natural gas & Oil inventories, Fed balance sheet ,monetary supply

·         Friday- Manufacturing PMI, Existing home sales, Oil rig count.

TECHNICAL VIEW:

 Nifty 50 

 Positional view

·         Nifty is in downtrend, we can see 7320..7200..7154..7134

·         Support zone 7370...7390 close above this might bring a pull back upto 7534...7548

·         Close above 7610 and maintain can only show some signs of reversal.

·         Today Nifty has made a double top of 7463.