Dalal Street Week Ahead | Stocks and Commodities

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February 23, 2014
Time: 10.15 am

Dalal Street Week Ahead:

1. First 12 trading sessions of February series, Nifty cash closed between 6000 and 6100.
2. On Wednesday 19th February, first time in February, Nifty cash closed above 6100.
3. On the same day noght, US markets fell, then the following day our markets also fell.
4. But on Friday 21st February, our markets bounced back equally as there was no feared FII selling.
5. Open interest at 6000 Put has the highest open interest.
6. So there is a strong support at 6000.
7. Highest open interest among the calls is at 6200.
8. But still the open interest at 6200 Call is less than half of 6000 Put open interest.
9. Also a part of 6200 Call may be covered with long with futures.
10. So Nifty may crossing 6200 if global cues and FII flows are positive.  
11. More positive news coming from opinion polls regarding stable government after elections.
12. Also there are only three trading sessions as Thursday is a holiday.
13. Next week there are no important news from India.
14. On Monday, German Ifo Business Climate Index and Euro CPI data are due.
15. On Tuesday, consumer confidence data is due from US.
16. On Wednesday, GDP data is due from UK. Holiday for Indian markets due to Mahasivarathiri.
17. On Thurday, core durable goods order data is due from US.
18. On Friday, Pending Home Sales data is due from US.  
19. Markets will be volatile ahead of expiry on Wednesday.
20. Nifty is expected to expire between 6200 and 6300.