NIFTY OUTLOOK
Trend: ‐ Bullish
Resistance: ‐ 6150, 6350
Support: ‐5750, 5530
Strategy: ‐ Buy On Dips
BANK NIFTY OUTLOOK
Trend:‐ Bullish
Resistance: ‐ 13300, 12650
Support: ‐ 11750, 11100
Strategy: ‐ Buy On Dips
Nifty and Sensex were closed green; gained 3.96%, 4.04% resp. this week.
ISM Non-Manufacturing PMI 56.0 and US Unemployment Claim at 340K.
US & Euro markets were green; Asian markets were almost green last week.
Indian equity markets benchmark ended green on Friday; on this week the Sensex and Nifty were consolidate trend. Major sector which were down like IT Index (up 3.7%), Auto Index (up 2.4%) and Top gainers are Orchid Chem (up 33.8%), HCL Tech (up 7.1%), Wipro (up 5.4%), TCS (up 5.4%), Dishman Pharma (up 8.4%), Wockhardt (up 7%), Hindustan Motors (up 17.1%) and Tata Motors (up 5.3%). Technically Nifty may expected to up from this point or a short term range bound movement this week; Nifty this week may range 6350-5530.
After the Union Budget, this week was the best this calendar year with a rally witnessed across global markets. IIP and inflation could have a bearing on the RBI’s policy meeting. With the need to revive investment cycle, the RBI may consider growth over inflation. A repo rate cut of 25bps in the forthcoming monetary policy review is in the offing. The current account deficit is expected to stay at record high for the entire 2012-13, Country's current account deficit widened to a record high of 5.4% of GDP in the September.
The S&P 500 climbed for its sixth straight day, putting it less than 1% from an all-time closing
high. S&P rose for its ninth positive week out of the last 10. The major world indices showed this week a positive trend, with the Dow Jones up nearly by 1.96 percent, and the Nasdaq Composite Index gained 2.28 percent to end at 3232.09The US dollar ended sharply cheaper against the rupee at 54.28/28 per dollar and the Pound Sterling also finished lower at Rs 81.58/60 per pound. The total foreign exchange reserves had declined by $ 1.60 billion to $ 291.92 billion in the previous reporting week.
WEEKLY ANALYSIS FOR EQUITY MARKET JUST VISIT
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