Indian equity markets for the passing week ended with a cut of over a percent, below the psychological 20,250
(Sensex) and 6,000 (Nifty) levels. Going further, a volatile week is in the offing as the market gears up for
November F&O expiry, which is scheduled on November 28, 2013.
Telecom stocks are expected hog some limelight in the coming week as an inter-ministerial panel Telecom
Commission on November 29 is expected to consider new penalty slabs for service providers violating
government norms. Meanwhile, these stocks are also expected to react to the outcome of EGOM’s meeting,
held on November 22, to discuss the details of the third round of spectrum auction as well as M&A guidelines
for the sector.
Additionally, sugar stocks too could witness some action in the coming week as UP government, has directed
mills to begin their halted operations by November 25. However, it remains to be seen if the mills going by
state government’s order will resume their operations after the latter turning a deaf ear to their demands, kept
the sugarcane price unchanged at Rs 280 per quintal for the currency sugar season.
Further, investors would also keep an eye on Petroleum Minister Veerappa Moily’s meet with investment
bankers and top industry executives in Mumbai next week to restore investors' confidence in oil and gas sector
before launching the tenth bidding round of exploration blocks.
On the global front, investors will be tracking slew of macro-economic data from the world’s largest economy,
the United States (US) starting from Housing Starts data on November 26, followed by Durable Goods Orders
and Jobless Claims data on November 28.
MAJOR EVENTS FOR NEXT WEEK
25 NOV US Pending Home Sales
26 NOV US GDP Growth Rate
27 NOV US Initial Jobless Claims
28 NOV Euro Consumer Confidence
29 NOV India GDP Growth Rate
During the week USD against INR opened at 62.50 made a high of 63.10, low of 61.90 and finally closed at 62.50. It was stronger during the week due to huge demand and as long as it remains above 62.50, we may see more strength in the
USD. This also depends on the FII inflow into equities or they slow down their purchase in equity will drive the market.
(Sensex) and 6,000 (Nifty) levels. Going further, a volatile week is in the offing as the market gears up for
November F&O expiry, which is scheduled on November 28, 2013.
Telecom stocks are expected hog some limelight in the coming week as an inter-ministerial panel Telecom
Commission on November 29 is expected to consider new penalty slabs for service providers violating
government norms. Meanwhile, these stocks are also expected to react to the outcome of EGOM’s meeting,
held on November 22, to discuss the details of the third round of spectrum auction as well as M&A guidelines
for the sector.
Additionally, sugar stocks too could witness some action in the coming week as UP government, has directed
mills to begin their halted operations by November 25. However, it remains to be seen if the mills going by
state government’s order will resume their operations after the latter turning a deaf ear to their demands, kept
the sugarcane price unchanged at Rs 280 per quintal for the currency sugar season.
Further, investors would also keep an eye on Petroleum Minister Veerappa Moily’s meet with investment
bankers and top industry executives in Mumbai next week to restore investors' confidence in oil and gas sector
before launching the tenth bidding round of exploration blocks.
On the global front, investors will be tracking slew of macro-economic data from the world’s largest economy,
the United States (US) starting from Housing Starts data on November 26, followed by Durable Goods Orders
and Jobless Claims data on November 28.
CMP
|
5995.45
|
Nifty Range
|
5756
to 6235
|
Pivot Point
|
6060
|
Turning Points
|
6050/5941
|
Positive
Above
|
6061
|
Negative
Below
|
5930
|
Bull
Turning Point
|
6127
|
Bear
Turning Point
|
5864
|
5972 - Weekly & Daily Double Bottom.
Moving Averages
Average
|
20 Days
|
50 Days
|
100 Days
|
200 Days
|
SMA
|
6147
|
6037
|
5872
|
5862
|
EMA
|
6102
|
6024
|
5940
|
5857
|
Fresh Strength will be seen only above 6017 and 6039. If Nifty manages to stay above 6039, next Upmove Levels will be 6061 - 6127 and then 6180 - 6235.
Below 5973, Nifty could slip down to 5952 – 5930. If 5930 is breached, break-down to 5864 – 5806 – 5756 is likely to be seen.
25 NOV US Pending Home Sales
26 NOV US GDP Growth Rate
27 NOV US Initial Jobless Claims
28 NOV Euro Consumer Confidence
29 NOV India GDP Growth Rate
During the week USD against INR opened at 62.50 made a high of 63.10, low of 61.90 and finally closed at 62.50. It was stronger during the week due to huge demand and as long as it remains above 62.50, we may see more strength in the
USD. This also depends on the FII inflow into equities or they slow down their purchase in equity will drive the market.
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