DATE: 15/02/2016
FUNDAMENTAL VIEW:
·
In the upcoming week,
Macro data to dictate trend of the market, as the third-quarter earnings season
comes to a close, stock markets would take cues from inflation data to be
announced on Monday and are likely to see increased volatility.
·
The next major trigger for
the market will be Railway and Union Budget 2016-17, to be announced later this
month.
·
IIP and WPI data for
January is also scheduled on Monday.
·
Market may have a partial
impact on opening of Chinese markets on Monday, after a week-long gap.
·
Sinking to its lowest
level in 21 months, Sensex on Thursday crashed 807 points to drop below
23,000-mark on concerns over global economy.
·
Remaining in the negative
zone for the second month, industrial output in December shrank 1.3 per cent
while retail inflation in January edged up to a 16-month high, prompting the
industry to call for urgent policy action in the forthcoming Budget to spur
revival.
TECHNICAL VIEW:
·
Nifty 50 has touched its
strong support zone in positional charts (6861...6874) zone and has bounced
though. It will be too early to say that its a pull back or reversal. So be
careful now on short position.
·
If maintains above 6860...6880
[support zone], we can see good up move.
·
Closing above 7040-7030
level can confirm the reversal in Nifty.
No comments:
Post a Comment