Rallying for four out of five sessions, Indian equity markets accumulated gains of over 1.5% for the week and ended past the crucial 20,700
(Sensex) and 6,150 (Nifty) levels respectively. In the coming holiday truncated week, Indian equity markets are expected to witness lot of
volatility as traders will adjust their position on account of expiry of February F&O series. The expiry will be a day earlier from the usual, as
the market will remain shut for ‘Mahashivratri’ on Thursday February 27.
In the coming week, investors would eagerly be eyeing the release of Q3GDP data on February 28, 2014. Gross domestic product grew
4.8% in the second quarter of the fiscal year on impressive agriculture sector performance and improvement seen on the industry side,
according to data released by the Central Statistics Office.
The output growth of eight core sector industries for the month of January would also be watched by market-participants in the coming
week. The eight core industries, which have a combined weight of about 38 per cent in the Index for Industrial Production (IIP), slowed to
2.1 per cent in December 2013 due to a poor showing by coal, petroleum refinery products, steel and cement sectors. Besides, data on
Consumer price index (Industrial Workers) is also due to release on February 28, 2014.
On the global front, investors would be eyeing slew of economic data from world’s largest economy, United States (US), starting from New
Home Sales data on February 26, followed by Durable Goods Orders, Jobless Claims and finally, the GDP data on February 28, 2014.
In short, Macroeconomic data, trend in investment by FIIs, trend in global markets, trend in other global emerging markets, the movement
of rupee against the dollar and crude oil price movement will dictate the near term movement on the domestic bourses. Concerns about
slowdown in capital inflow may weigh on the domestic bourses after a Federal Reserve report this week showed support for a plan to
reduce monetary stimulus for the US economy. Fed's bond-buying program has been a source of liquidity for most Asian and emerging
markets over the past few years.
Automobile shares will be in focus as automobile companies start unveiling monthly sales volumes data for February 2014 from Saturday, 1
March 2014.
Future trading on NSE’s volatility index -- India VIX -- begins from Wednesday, 26 February 2014. India VIX is a volatility index based on the
index options prices of CNX Nifty. The contract value of India VIX futures will be minimum Rs 10 lakh at the time of introduction of futures
trading in India VIX, NSE had said early this month.
TECHNICAL LEVELS AND MAJOR EVENTS TO WATCH OUT FOR NEXT WEEK
TECHNICAL LEVELS-INDICES-EQ
NIFTY PIVOT POINT 6141
NIFTY SUPPORT 6122 6089 6071
NIFTY RESISTANCE 6174 6193 6226
SENSEX PIVOT POINT 20675
SENSEX SUPPORT 20625 20550 20500
SENSEX RESISTANCE 20750 20800 20875
MAJOR EVENTS FOR NEXT WEEK
24FEB PMI SERVICE FLAT
25 FEB CONSUMER CONFIDENCE DATA
26 FEB NEW HOME SALES DATA- US
27FEB US JOBLESS CLAIMS DATA
28FEB Q4 2013 GDP DATA-INDIA, NEW HOME SALES-US,
(Sensex) and 6,150 (Nifty) levels respectively. In the coming holiday truncated week, Indian equity markets are expected to witness lot of
volatility as traders will adjust their position on account of expiry of February F&O series. The expiry will be a day earlier from the usual, as
the market will remain shut for ‘Mahashivratri’ on Thursday February 27.
In the coming week, investors would eagerly be eyeing the release of Q3GDP data on February 28, 2014. Gross domestic product grew
4.8% in the second quarter of the fiscal year on impressive agriculture sector performance and improvement seen on the industry side,
according to data released by the Central Statistics Office.
The output growth of eight core sector industries for the month of January would also be watched by market-participants in the coming
week. The eight core industries, which have a combined weight of about 38 per cent in the Index for Industrial Production (IIP), slowed to
2.1 per cent in December 2013 due to a poor showing by coal, petroleum refinery products, steel and cement sectors. Besides, data on
Consumer price index (Industrial Workers) is also due to release on February 28, 2014.
On the global front, investors would be eyeing slew of economic data from world’s largest economy, United States (US), starting from New
Home Sales data on February 26, followed by Durable Goods Orders, Jobless Claims and finally, the GDP data on February 28, 2014.
In short, Macroeconomic data, trend in investment by FIIs, trend in global markets, trend in other global emerging markets, the movement
of rupee against the dollar and crude oil price movement will dictate the near term movement on the domestic bourses. Concerns about
slowdown in capital inflow may weigh on the domestic bourses after a Federal Reserve report this week showed support for a plan to
reduce monetary stimulus for the US economy. Fed's bond-buying program has been a source of liquidity for most Asian and emerging
markets over the past few years.
Automobile shares will be in focus as automobile companies start unveiling monthly sales volumes data for February 2014 from Saturday, 1
March 2014.
Future trading on NSE’s volatility index -- India VIX -- begins from Wednesday, 26 February 2014. India VIX is a volatility index based on the
index options prices of CNX Nifty. The contract value of India VIX futures will be minimum Rs 10 lakh at the time of introduction of futures
trading in India VIX, NSE had said early this month.
TECHNICAL LEVELS AND MAJOR EVENTS TO WATCH OUT FOR NEXT WEEK
TECHNICAL LEVELS-INDICES-EQ
NIFTY PIVOT POINT 6141
NIFTY SUPPORT 6122 6089 6071
NIFTY RESISTANCE 6174 6193 6226
SENSEX PIVOT POINT 20675
SENSEX SUPPORT 20625 20550 20500
SENSEX RESISTANCE 20750 20800 20875
MAJOR EVENTS FOR NEXT WEEK
24FEB PMI SERVICE FLAT
25 FEB CONSUMER CONFIDENCE DATA
26 FEB NEW HOME SALES DATA- US
27FEB US JOBLESS CLAIMS DATA
28FEB Q4 2013 GDP DATA-INDIA, NEW HOME SALES-US,
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