WEEKLY REPORT                                                              
DATE: 06/06/2016 

FUNDAMENTAL VIEW:

Factor which may have an impact on the market in the coming week are:

·         The Reserve Bank of India policy review which is scheduled on 7th June Tuesday.

·         The IMD second stage report, saying the rainfall this year will be 106 percent of the long period average.

·         The factory output data or index of industrial production (IIP) for March will be announced this week.

GLOBAL EVENTS:

·         MONDAY: Janet Yellen speaks on US monetary policy before FOMC meet.

·         TUESDAY: Eurozone GDP (Q1, third estimate).

·         WEDNESDAY: China trade balance (May), UK industrial & manufacturing production (April), US EIA crude inventories.

·         THURSDAY: Australia NAB business confidence (May), China CPI (May), UK trade balance (April), UK trade balance (April).

·         FRIDAY: German CPI (May, final), Canada employment data (May), US Michigan consumer confidence (June, preliminary).

TECHNICAL VIEW:

Nifty 50 (8220)

·         Nifty is near its stiff resistance zone of 8270/8300.

·         But positive pattern formation is also active in charts above the strong support zone of 7990/8080.

·         Nifty is showing a flag formation breakout of 250-300 points if closes above 8300.

·         Any close below 8070 ...can again show 7990

Nifty bank (17680)

·         Like nifty, Nifty bank too has a rally of 1000 points closing above 17900 i.e 18700/18800.

·         With the support of 17500.

·         Close below 17000 can show 16400.