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Nifty trend for the week is covered in this exclusive video by Sharetipsinfo. This video shows how Nifty will trade, best stocks to buy, important upcoming events, important news, sector view and various other technical levels for upmcoming week. Nifty trend can be known from this video.
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Weekly Nifty Trading View for the Week Dec 29, 2014 – Jan 04, 2015 An exclusive report by Share Tips Info
Events To Watch This Week: • The S&P/Case-Shiller Home Price Index is released on Tuesday, 30 December. • The ISM-Chicago purchasing managers’ index is reported on Wednesday, 31 December. • The US Pending Home Sales Index is reported on Wednesday, 31 December. • The European Union reports its manufacturing PMI on Friday, 2 January. • The US Department of Commerce releases its manufacturing PMI on Friday, 2 January. For free trial give us a missed call at 080 3008 8464
End Of The Week That Was : • US GDP growth revised up to 5% • US consumer sentiment improves, housing softens • Japan’s inflation, output slip • US jobless claims dip to 280,000 • Standard & Poor’s warns Russia of credit downgrade For free trial give us a missed call at 080 3008 8464
For The Week : • Financial markets trended higher on a quiet holiday week. The key drivers were the stronger-than expected update to third-quarter US gross domestic product and the ongoing momentum generated by the US Federal Reserve’s pledge to be patient about raising interest rates. • Other robust US data included lower jobless claims, falling gasoline prices and the highest consumer expectations reading in almost eight years. Japan, in contrast, reported disappointingly weak data on inflation and industrial output.The yield on the 10-year US Treasury note climbed above 2.25% on Friday. Oil prices remained at multiyear lows. Major US stock indices set new record highs through the week. For free trial give us a missed call at 080 3008 8464
Market Round Up : • Indian benchmark indices edged lower in truncated trading week as selling of Indian stocks by the foreign portfolio investors (FPIs) weighed on sentiment. The Sensex fell in two out of four trading sessions in the week. Markets remained closed on Thursday, 25 December 2014 on account of Christmas. Data showing the fastest US economic growth in more than a decade in third quarter bolstered the case for the US Federal Reserve to raise interest rates in the world's biggest economy. Investors are concerned that higher US rates will strengthen the dollar and cause inflows into emerging markets to slow. With the government unable to get key legislative reforms bills passed during the winter session of the parliament which ended on Tuesday, 23 December 2014, key equity benchmark indices edge lower on that day. For free trial give us a missed call at 080 3008 8464
Market Round Up: • Indian stocks remained volatile as traders rolled over positions in the futures & options (F&O) segment from December 2014 series to January 2015 series. The near month December 2014 derivatives contracts expired on Wednesday, 24 December 2014, as the stock market remained closed on Thursday, 25 December 2014. • At the close, The S&P BSE Sensex declined 130.06 points or 0.47% to settle at 27.241.78, in the week ended Friday, 26 December 2014. The 50-unit CNX Nifty dropped 24.50 points or 0.29% to settle at 8,200.70. The BSE Mid-Cap index rose 0.74%, outperforming the Sensex. The BSE Small-Cap index fell 0.29%, with fall in index lower than Sensex's decline in percentage terms. For free trial give us a missed call at 080 3008 8464
Rupee And Crude Update: • The rupee stays lower for the third straight session on month-end dollar demand and FII profit booking.the rupee edged lower against the dollar. The partially convertible rupee was hovering at 63.6350 compared with its close of 63.5250 during the previous trading session. • Brent crude futures held above $60 a barrel today, 26 December 2014. Brent for February settlement was up 31 cents at $60.55 barrel. The contract fell $1.45 a barrel to close at $60.24 a barrel during the previous trading session. For free trial give us a missed call at 080 3008 8464
Major Action & Anouncement: • DrReddys Laboratories fell 2.15%. With respect to news article titled, "DRL under health Canada Scanner," DrReddys Laboratories clarified during trading hours on Friday, 26 December 2014, that in keeping with current regulations of Health Canada, the company has voluntarily placed under quarantine all APIs and the formulations based on Active Pharmaceutical Ingredients (APIs) produced at its API facility in Srikakulam district of Andhra Pradesh intended for use in Canada. The company said its products continue to meet intended quality standards, and its APIs and Finished drug products manufactured using these APIs pose no risk to the health and safety of the Canadian people. • Cipla rose 0.82%. The company said on 23 December 2014, that CiplaMedpro has been awarded R2 billion share of the South African Government's 2015-17 National ARV tender. The contract is effective from 1 April 2015 and will run for a period of three years. For free trial give us a missed call at 080 3008 8464
Housing Development Finance Corporation • The company announced on 22 December 2014, that it has agreed to sell up to 1.89 crore equity shares representing a 0.95% stake of HDFC Standard Life Insurance Company (HDFC Life) to the AzimPremji Trust at Rs 105 per share. HDFC has already concluded the sale of the first tranche of 1.19 crore shares. The balance shares would be sold subsequently. After the entire sale of 1.89 crore equity shares is completed, HDFC would hold 71.42% of the total issued and paid-up equity capital of HDFC Life. For free trial give us a missed call at 080 3008 8464
Reliance Industries • The company on Friday, 26 December 2014, said it has signed shipping agreements with one of the world's largest and reputed shipping companies MITSUI O.S.K. Lines (MOL) for transporting liquefied ethane from North America to India. MOL will supervise the construction of six very large ethane carriers (VLECs), ordered by Reliance. MOL will also operate and manage the vessels after they are built and delivered. • NTPC rose 2.84%. The company on 23 December 2014, said that its board has approved a scheme of arrangement for the issuance of secured, non-cumulative, non-convertible, redeemable, taxable fully paid-up bonus debentures of face value of Rs. 12.50 each against each equity shares of Rs 10 (face value) held by its shareholders by utilizing its free reserves. For free trial give us a missed call at 080 3008 8464
Macroeconomic Front: • On the macro front,The government was unable to get the Insurance Laws (Amendment) Bill, 2008, passed in LokSabha and RajyaSabha during the winter session. The Insurance Bill, which has been pending since 2008 in the RajyaSabha, seeks to increase the composite foreign investment limit in insurance companies to 49% from current level of 26%. This will now be done through the ordinance route. It may be recalled that the Parliamentary Select Committee in its report tabled in RajyaSabha on 10 December 2014 agreed a composite cap of 49% on foreign investment in the insurance sector, which includes all types of foreign investment as opposed to the 26% foreign direct investment (FDI) allowed at present. Finance Minister ArunJaitley had said in his maiden budget speech in July that the composite cap in the insurance sector should be increased to 49% from the current level of 26%, with full Indian management and control. For free trial give us a missed call at 080 3008 8464
Corporate News Update 1: • RBI tightens norms to deal with errant borrowers. Anybody with dues above Rs 50mn will now be tagged a non cooperative borrower. • The world Bank has approved a Rs4.5 bn loan to Telangana to improve incomes and address healthcare needs of farmers. • Infosys is increasing its focus on geographies like North America and EMEA region to drive growth of its core banking solution Finacle. • Telecom industry body COAL has requested the Department of Telecom to extend deadline for roll out of 4G services to 2020 citing various hurdles mainly delay in development of technology and regulatory procedures. • Suzlon Group firm Senvion SE has bagged orders worth over Rs 4.20 bn for setting up wind power projects having nearly 64 MW capacity in the UK. For free trial give us a missed call at 080 3008 8464
Corporate News Update 2: • Jet Airways has raised a loan facility of $150 mn from west Asian financial institutions to part fund its three year turnaround stategy. • Relaincejioinfocomm Ltd has received security clearance to start 4G technology based broadband services in six circles but with riders. • Jaiprakash Associates completed its divesmentprogramme aimed at cutting debt with the sale of two cement plants in Madhya Pradesh to Ultratech Cement for 54 bn. • NTPC, the state owned thermal power generation giant, might lose the chance to build its first ultra mega power project, as the government is likely to scrape the bidding process for the Cheyyur UMPP in Tamil Nadu. For free trial give us a missed call at 080 3008 8464
Global Front: • In overseas markets, US stocks ended higher on Friday, with both the Dow and S&P 500 closing at records in a broad rally, though trading was light with many market participants still out for the Christmas holiday. Major indexes closed out their second straight weekly gain, continuing an advance that has lifted the S&P 5.9 percent in seven sessions. The benchmark index hit its 52nd record close of the year on Friday, the most since 1995 and the fourth-best annual record ever, while the Dow rose for a seventh straight day, its longest streak since March 2013. "The overall trend remains higher, but we're reaching a point where we're overbought. Six percent since last Tuesday is such a strong move in such a short period of time, even if bulls have the upper hand in the longer term. For free trial give us a missed call at 080 3008 8464
Global Corporate News 1st • US economy grew at 5% pace in Q3The US economy grew at an annualized 5.0% in the third quarter, up significantly from the previous revision of 3.9% and following the second quarter’s 4.6% pace — the strongest back-to-back quarterly growth rates since 2003. Despite evidence of slowing growth in the fourth quarter, economists predict ongoing expansion in 2015, fueled by the country’s strong labor market and lower gasoline prices. • US jobless claims fall to 280,000Initial claims for US unemployment benefits fell by 9,000 to a seasonally adjusted 280,000 for the week ended 20 December, the fewest since early November. The four-week moving average dropped to 290,250. Continuing claims rose by 25,000 to 2.4 million for the week ended 13 December. For free trial give us a missed call at 080 3008 8464
Global Corporate News 2nd • Japan reports falling inflation, weaker outputJapan’s core consumer price index, which strips out the impact of the April sales tax hike, was just 0.7% in November — down from 0.9% in October and even further away from the Bank of Japan’s target of 2%. Industrial production fell 0.6%, far below the 0.8% growth that economists had forecast. The yield on 10-year Japanese government bonds slipped to a record low 0.30% on the news.. • Japan is planning targeted stimulusJapan is expected to introduce $29 billion in targeted stimulus measures, including subsidies and vouchers for low-income households that are intended to boost consumption in regional economies. The government is also seeking to rejuvenate the housing market by lowering the mortgage rates offered by its home loan agency. For free trial give us a missed call at 080 3008 8464
Global Corporate News 3rd • S&P warns Russia of downgrade to junkStandard & Poor’s warned Russia of a potential downgrade to a junk credit rating early in 2015. The credit rating agency cited the “rapid deterioration of Russia’s monetary flexibility.” The troubled economy has been hard hit by sharply lower oil prices and Western sanctions over the conflict with Ukraine. For free trial give us a missed call at 080 3008 8464
Global Economic Data: • US existing home sales fell at an annual rate of 4.93 million units, or 6.1 % to a six month low in November. • The Thomson Reuters/University of Michigan consumer sentiment index’s final reading of 93.6 for December was a strong increase from November’s final 88.8 and the consumer expectations subindex rose to its highest level since January 2007. • Double goods orders fell 0.7% overall in November, although nondefense capital goods orders excluding aircraft were unchanged after a downward -revised fall 1.9% in October. • AAA reported that the average US price per gallon of regular gasoline fell to $2.38 as of 22 December, the lowest price since May 2009. For free trial give us a missed call at 080 3008 8464
New 52-Week High And Lows BSE (A): • HIGH BSE (A): • Jswenergy 104.05 • Shriramcit 1870.00 • Sksmicro 404.20 • LOWS BSE (A): • Kailash 8.22 • Rasoypr 1.49 For free trial give us a missed call at 080 3008 8464
Major Weekly Gainers In Bse A Category: • Guj Gas 45.19% • BF Utilities 34.95% • Future Retail 25.22% • DCB Bank 18.61% For free trial give us a missed call at 080 3008 8464
Major Weekly Losers In Bse A Category: • Pun. Nationlbank -79.54% • Rasoya Proteins -25.13% • PMC Fincorp -20.84% • Vakrangee -12.25% For free trial give us a missed call at 080 3008 8464
FII Trend During The Week: (Figures in Crore) • 22/12/2014 -171.76 • 23/12/2014 -389.55 • 24/12/2014 -1349.48 • 26/12/2014 457.26 For free trial give us a missed call at 080 3008 8464
Fundamental & Technical Picks For The New Year: • In any market environment, we strongly believe that investors should stay diversified across a variety of asset classes. By working closely with your financial advisor, you can help ensure that your portfolio is properly diversified and that your financial plan supports your long-term goals, time horizon and tolerance for risk. For free trial give us a missed call at 080 3008 8464
Missed the rally! Now bank on PSBs: • CNX PSU Bank Index has seen a break-out above the supply zone of 4,100 for the first time since July 2011. In the process, the index has given a breakout from an inverted head &shoulders pattern on the weekly chart. The technical set-up suggests that it is just a matter of time before it surpasses the all time high level of 4,640. For free trial give us a missed call at 080 3008 8464
Indian Bank,,,,,,,,,TGT 251. • Indian Bank on the daily chart, has been moving alongwith the support of its rising trendline since February 2014 wherein every decline is met with buying interest. On the weekly chart, it is on the verge of breaking out from an inverted head & shoulders pattern above 195.This stock has underperformed in the past six months. We expect the stock to build on short-term breakout. For free trial give us a missed call at 080 3008 8464
Oriental Bank of Commerce ,,,,,,,,,TGT 411 • Oriental Bank of Commerce (OBC) has faced supply pressure around 300. However, in December, it has managed to overcome this hurdle and also confirmed a breakout from an inverted head & shoulders pattern on the daily chart.Flags are considered to be continuation pattern in nature. So expect the stock to resume its uptrend seen prior to the recent phase of consolidation. Upmove above 290 was preceded by bullish piercing line thus confirming an end to the short-term phase of consolidation. During the correction in early November, the stock found support at its multiple moving averages. Thereafter, it began a phase of consolidation, which eventually broke on the upside. For free trial give us a missed call at 080 3008 8464
CanaraBank,,,,,,,,,TGT 521. • Canara Bank on the long term chart, it has retraced 61.8% of its previous upmove and the same level also coincides with the support of its 200-DMA. Recent recovery in November has been accompanied by impressive volumes. With PSU Bank Index showing signs of a turnaround, it supports the argument for a decent upside. The current upmove also corroborates the minimum downside risk and very high upside potential in Canara Bank. It continues to remain in long term uptrend as it has seen gradual recovery after hitting a low of 362 in September 2014. Canara Bank has rallied to a new high after touching long term support line, providing good entry point with better risk reward ratio. For free trial give us a missed call at 080 3008 8464
Technical And F& O View: • S3 8,065 • S2 8,107 • S1 8,154 • NIFTY 8,200.70 • R1 8,281 • R2 8,325 • R3 8,366 For free trial give us a missed call at 080 3008 8464
Technical And F& O View: • Recovery from the low of 7,961 seems to be resumption of the previous uptrend after a sharp decline in early-December. Nifty has managed to rebound back above the rising trendline, thus turning the break down below 8,000 a mere whipsaw. Also, the rising channel on Index persists which indicates that the uptrend is intact. This does not mean that price action would reverse sharply but it could enter into sideways pattern as action shifts to smallcaps and midcaps.Bank nifty rolls stood at 75% matching 1.6mn shares rolled in November series, as traders carry over their position. PSU Bank continues to outperform during the previous session. The FIIs long/short rolls in index future stood at 64/24%, lowest over the last one year. For free trial give us a missed call at 080 3008 8464
Conclusion: • After a pullback at start of the week, partly owing to short-covering, the market succumbed to profit taking as the bulls ran out of steam. Fresh weakness in the Rupee and Crude Oil dragged the index to lower levels. The December series remained highly volatile, but the Nifty managed to recover half of the losses it made in by mid-December. On the economic front, the government initiated major reforms this week by passing an ordinance on the Coal Block Auctions and Insurance Amendment Bill. For free trial give us a missed call at 080 3008 8464
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