Market Round Up for week ending 27 November 2016

General Observations:

NO Major event or Schedule announcement is lined-up for current week; Other than usual data from USA, GST, and parliament proceedings.

However, we expect non-impact to positive outcomes only.

Most importantly, Indian Stock Markets are reacting to government’s decisions on ad-hoc basis and therefore, market participates’ sentiments are (too) vary, fragile currently.

This is only reason why market may not be sustaining at higher levels.

Another reason could be internal adjustments and fund flow transitions in wake of various global & domestic developments especially Demonetisation and its “unknown” effect on economy as a whole.

Irrespective of above, we remain bullish on NIFTY for 9200+ TGT on or before March 2017

We expect to generate around 1000pts and 300pts profit from BankNIFTY, NIFTY per lot basis, respectively; during upcoming expires of December 2016 and January 2017.

No point in exiting trading at current juncture; at-least trade 1lot in both Indices at a time.

More ever, one precise entry in Indices will put us back on track. No need to lose heart !


NSE Trading Updates:

~ NIFTY: Only positive is that holding above 8000 with reduced price volatility. Secondly, not into either clear BUY or Short sell as of Friday closing.

~ BankNIFTY: Still remains in clear BUY; only negative it had closed below 19000. Therefore, our view is bullish in BankNIFTY provided it again gives closing above 19000 Spot Index bases.

In any case, expect 500pts to 700pts one-sided price movements before November expiry is done & gets over. In other words, Fire-works are still expected to happen.


Global Trading Updates:

~ HangSeng: Remain buy as holding above 22000 closing basis; last closing 22344 levels.

~ DOWJONES: Bullish as long as holding above 18800 closing basis. Last closing 18846

~ S&P500: No clear trading pattern. But keep eye on 2180 closing basis for next trigger.

~ RUSSEL 2000: Remains in Break Out buy mode only. But, the gap between Break Out points to Current closing prices is way too wide.

~ CBOE VIX: Until Wednesday nothing much is expected to happen either ways.

Most importantly, USA Markets are eagerly awaiting President elected Trump’s choice of cabinet members especially related to Foreign affairs and Treasury secretary’s announcements.


Commodity Trading Updates:

~ GOLD, SILVER: Highly oversold but would come in BUY again above 29300 & 41100 MCX Dec contract levels, respectively.

~ CRUDE: Expect break out to happen above 3230 Dec MCX Contract levels.

~ NG, COPPER: No clear choice therefore better to avoid trading until becomes clear again.


*Special Mention: Unscheduled news, events, announcements etc does not reflect on price charts, therefore beyond our analysis & understanding. In this case, we need to take quick & drastic decisions in real time to adjust positions accordingly.

Therefore better to keep suggested capital free and at the same time willingness to deploy whenever that required.

You are requested to take reconfirmation during market hours before acting on above trading analysis & write-ups thereof.

We are not biased for BUY or Short Sell side but writing what (we are) noticing on charts.