Dalal Street Week Ahead | Stocks and Commodities

January 22, 2015
Time: 1 pm

Dalal Street Week Ahead:

1. Last week markets were hgly volatile.
2. Volatility was mainly due to Crude oil movement in the first four days and due to Infosys results on Friday.
3. Finally Nifty was down by about 120 points on weekly basis.
4. Next week is also going to be highly volatile.
5. On Monday, Nifty is likely to open about 30 points lower as US and European markets were down on Friday. But traders will like to square off any short positions in Banking stocks by the end of the day as IIP data and CPI data is due after the markets close on Monday.
6. This time IIP and CPI data is more important as this would determine the possibility of rate cut in Feb. RBI policy.
7. On Tuesday, Cina export-import data is due. Also DCB, IndusInd Bank and Laxmi Vilas bank will declare results. 
8. On Wednesday, WPI data is due from India and Retail sales data is due from US. Also results are due from LIC Housing and Yes Bank.
9. On Thursday, Philadelphia Fed Manufacturing Index is due. Also results are due from Bajaj Auto, TCS and Federeal Bank.
10. On Friday, results are due from Reliance, Axis Bank and Wipro.
11. Totally Banking stocks and IT stocks will be in focus as many banking and IT stocks will come out with results.
12. Nifty will face some resistance at 8400 and if that is taken out comfortably, Nifty may cross all time high if global cues and corporate results are good.
13. On the downside, 8000 put option has the highest open interest and hence will act as a strong support.
14. So Nifty future is likely to trade between 8000 and 8650.