Bourses’ momentum on Mahurat trading session, which is scheduled to be held on November 3, Sunday, will be keenly watched by market-participants after the recent fire-works at Dalal Street that led the bourses ending just shy off of their all time high level in the passing week. Trend in investment by FIIs funds inflow who is currently on a buying spree, trend in other global emerging markets, rupee movement and movement in crude oil prices will determine near term on the domestic bourses. Further, drawing closer towards the end of the earning season, investors for the coming week would be awaiting results from major companies like Ashok Leyland, BHEL, Spicejet, Tech Mahindra, Indian Oil Corporation (IOC), Punjab National Bank, Punjab & Sind Bank, Tata Motors among others. Additionally, in the coming week, Market Economics will unveil its monthly survey on the performance of India's services sector for October on November 5, 2013. Moreover, investors would also be eyeing FII momentum in the coming week. Overseas investors have pumped in more than Rs 12,100 crore ($1.97 billion) in the Indian equity market since the beginning of this month amid easing concerns over the US tapering. On the global front, investors would be tracking few economic data from US economy, United States, starting from GDP and Jobless Claims data on November 7 and followed by Employment Situation and Personal Income and Outlays data on November 8.
TECHNICAL LEVELS AND MAJOR EVENTS TO WATCH OUT FOR NEXT WEEK
TECHNICAL LEVELS-INDICES-EQ
NIFTY PIVOT POINT 6240
NIFTY SUPPORT 6145 5985 5890
NIFTY RESISTANCE 6400 6495 6650
SENSEX PIVOT POINT 20995
SENSEX SUPPORT 20695 20195 19895
SENSEX RESISTANCE 21495 21795 22295
TECHNICAL LEVELS-USD/INR
PIVOT POINT 62.16
MAJOR WEEKLY SUPPORT 61.32 60.47 59.63
MAJOR WEEKLY RESISTANCE 63.00 63.85 64.70
MAJOR EVENTS FOR NEXT WEEK
4 Nov 2013- Market closed on account of Diwali
5 Nov 2013- Euro Area PPI
6 Nov 2013- Euro Area Service PMI, Q2 Results- ABB BHEL IGL Thermax
7 Nov 2013- ECB Interest Rate Decision,
8 Nov 2013- Q2 results of Ind Bank Divis lab, IOC PNB PFC Tata Motors BEML
TECHNICAL LEVELS AND MAJOR EVENTS TO WATCH OUT FOR NEXT WEEK
TECHNICAL LEVELS-INDICES-EQ
NIFTY PIVOT POINT 6240
NIFTY SUPPORT 6145 5985 5890
NIFTY RESISTANCE 6400 6495 6650
SENSEX PIVOT POINT 20995
SENSEX SUPPORT 20695 20195 19895
SENSEX RESISTANCE 21495 21795 22295
TECHNICAL LEVELS-USD/INR
PIVOT POINT 62.16
MAJOR WEEKLY SUPPORT 61.32 60.47 59.63
MAJOR WEEKLY RESISTANCE 63.00 63.85 64.70
MAJOR EVENTS FOR NEXT WEEK
4 Nov 2013- Market closed on account of Diwali
5 Nov 2013- Euro Area PPI
6 Nov 2013- Euro Area Service PMI, Q2 Results- ABB BHEL IGL Thermax
7 Nov 2013- ECB Interest Rate Decision,
8 Nov 2013- Q2 results of Ind Bank Divis lab, IOC PNB PFC Tata Motors BEML
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