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MARKET OUTLOOK FOR THE WEEK (25 July 2011 - 29 July 2011) RBI Policy, Q1 Results of major stocks, FII Flow, Monsoon and global cues to dictate trend on this expiry… In coming week, we expect market to maintain range bound trade because of three reasons… Q1 results, Monsoon and RBI Policy meet… Last week FII's flow also not quiet impressive… Q1 results of pivotal like ACC, BHEL, GAIL, HUL, ICICI, ITC, MARUTI, ONGC, RIL are due in coming week… The recent hike in diesel and petrol prices will put pressure on earnings of all major industries, by this price increase freight charges gone up by 7-8% approximately… Also corporate facing pressure from rising interest rates and wage hike… By which we can expect market to maintain ZIG-ZAG move and to be in range bound… RBI is expected to increase key rates by 25bps which is already factored in markets, so we can't expect any big impact on this event… Any surprise step like rate increase more than 25bps will give bad impact… IMD has come out with a slight in increase in Monsoon was a positive factor (which was 20% below average in last week)… If it back to below normal that will also put some pressure… In global front also there in no more big negative or positive surprise as of now, since Greece bail out got clearance in later part of the week… So we can't expect any major change in global cues also… So this derivative expiry will be little volatile and it may maintain within a range, by lack of positive or negative surprises from all part… Technically This pullback will continue, if Nifty Spot maintains above 5667 levels… On the other hand we will see fresh bear phase, if Nifty Spot dives down and holds below 5558 levels… SENSEX 18722 TECHNICAL VIEW (Week 25.07.11 - 29.07.11): This week 18842 & 18621 will act as "KEY LEVELS" - if it maintains above 18842 or maintains below 18621 levels will decide the trend of market in next week… SUPPORTS:
18621, 18474, 18212 & 18059… SENSEX FOR THE DAY 25.07.11: Today, if SENSEX maintains above 18680 will give upside target of 18905-18963 levels… Or else it may slide up to 18545-18474 levels… SUPPORTS:
18680, 18621, 18545 & 18474… NIFTY 5633 TECHNICAL VIEW (Week 25.07.11 - 29.07.11): This week
5667 & 5603 will act as "KEY LEVELS" - if it maintains above
5667 or maintains below 5603 levels will decide the trend of market in
this week… Today, if NIFTY maintains above 5621 levels - then it will give upside target of 5688-5706 levels… Otherwise it may slide up to 5580-5558 levels… SUPPORTS:
5621, 5603, 5580 & 5558…
Article by: Ramesh Chandra, Buy & Sell |