Index outlook -2/2/2014 Weekly Index Outlook ( Nifty,Bank Nifty & USD/INR) log on to ------www*npstocks*com --------- : It was a expected show, by stock markets last week , our clients earn around 200 points in Nifty & 800 points in Bank Nifty for the last week , we are short in nifty from 6332 levels & In bank Nifty we succeed to get More than 1200 points in last month our bearish view in bank nifty from 11507 level for last expiry In last couple of weeks market faces some big events which are provided strong reason to the bears to burst the bubble. such as 10 $ billion US Tapering & RBI Monitory policy Rapo Rate hike by .25 basis Increase in MSF rate Inline with our expectations. also we got mixed Q3 Earning numbers from heavyweights Now focus shifted to the upcoming January CPI & WPI Numbers , political views about upcoming general elections also need to be know that Government revises down FY-13 GDP growth to 4.5% YoY *Nifty ( 6089.50) Expected Nifty to Trade in a range 5970 - 6230 for the next week trading sessions Short-term The Nifty on the weekly chart, witnessed an exhaustion gap, indicating unwinding of medium-term long positions. Traders should note that the Nifty has fallen more than 200 points in the last week, which led momentum to trade in oversold zone. Hence, a short pullback is expected. Traders should look to create short positions on pullback. traders can short during levels as long as the index trades bellow 6230 level with decent target.The short-term trend in the index is down. Immediate support that needs to be watched is at 6030 , The next support is at the previous neckline ie 5970 . Short-term investors can watch out for upward reversal from either of these levels till 6194 & 6230 . Short-term resistances are at 6194 , 6,230 Nifty continually reversing lower from 6332 as i suggest last week . The index is moving in the range of 5970 and 6,415 since the first week of December. .A strong break through closing bellow 5970 will give Minimum target in this case would be 5880, 5722 . The Medium term view turn more aggressively negative only on a close below 5970 with target price 5880 5722,5600, But sideways movement between 5970 and 6,230 is possible for the next week before any bearish breakout takes place. The Medium term view only turns positive after breaching 6332 level on Nifty *Bank Nifty - As i mentioned before in my last blog on 5/1/2014 & 18/1/2014 Just like Nifty Index my view on Bank nifty bearish from 11500 levels In the Bank Nifty we got our short term target 10254 which i set up for month of jan From 11500 Bank Nifty, which comprises 12 banking stocks, has fallen 1,054.2 points, or 9.4%, in the last six trading sessions as third quarter numbers have failed to douse concerns over asset quality stress. Expected Bank Nifty to Trade in a range 9700 - 10865 for next 2-4 trading sessions Traders should note that the Bank Nifty has fallen more than 1000 points in the last couple of weeks, which led momentum to trade in oversold zone. Hence, a short pullback is expected. Traders should look to create short positions on pullback. traders can short during levels as long as the Bank Nifty trades bellow 10700-10865 zone level with decent target.The short-term trend in the index is down. Immediate support that needs to be watched is at 10000 , The next support is at the previous neckline ie 9700 Short-term investors can watch out for upward reversal from current levels till 10700,10865 . Short-term resistances are at 10700 ,10865 A bounce from current levels can take the index to 10700 , 10865 .Inability to move above the resistance will be the cue for short-term traders to initiate fresh short positions.but have to conscious about there positions above 10865 Key short-term support for the index is at 10000.& 9700 The Medium term view only turns positive after breaching 11265 level on Bank Nifty * USD/INR - In USD/INR from last 2-3 weeks we suggesting to the traders create long positions above 61.80 & hold If dollar breaks 62.37 level on closing basis then we may get immediate short term higher target 64 in next couple of weeks Now From here have to cautious about RBI Intervention in USDINR , so expect to trade in range 61.80- 64 For the month of Feb , buy on dips only as long as Dollar holds 62.37 level on closing basis with Decent target 64 With the help of our Market research results ,You can built very efficacious business strategy Hurry up..!! Connect with Us...300 & 400 & 600 points in Nifty future commitment pack...&..600 1200 & 1800 points commitment pack in Bank Nifty .. Stock future services ...with more than 90% success ratio...contact for activation ....Limited clients only..... For more details call us... NP Investments-Its a Relationship beyond Technicals CUSTOMER CARE SUPPORT - (02164)-241073, 09503709911, 09373820572, 09373820573, 09373820575, 07756846636 Disclaimer - The views and investment tips expressed by Np investment are own expectations , website viewers or facebook viewer consult first with their certified financial adviser or broker before take any buy or sell position We advise users to check with certified experts before taking any investment decisions. You are responsible for your own investment decisions. 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Posted on: Mon, 03 Feb 2014 06:07:09 +0000
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