Dalal Street Week Ahead | Stocks and Commodities

May 17, 20015
Time: 11 am

Dalal Street Week Ahead:

1. I could not write reports for the last few days as I was too busy with some other work.
2. Two weeks have gone in May series. Though markets are highly volatile, at the end of two weeks, Nifty is up less than 100 points.
3. Markets are broadly in the trading range of 8000 to 8350.
4. FIIs keep selling and DIIs keep buying.
5. This is likely to continue for few more days.
6. Key results to watch this week include Asian Paints, Tata Steel, ITC and SBI.
7. Both ITC and SBI will declare results on Friday.
8. Since our markets have fallen more than 10% and global cues continue to be good, I expect markets to consolidate for few more days in the range 8000-8350 and break out there after.
9. Corporate results have not been that bad. Only IT companies and Bank of Baroda and PNB declared bad results. Other Banks have declared reasonably good results.
10. There are no important global news flow except FOMC minutes on Wednesday.
11. India VIX fell for the first time in last many days on Friday.
12. This indicates that the markets are likely to consolidate in the near future.
13. Nifty is expected to trade between 8000 and 8350 this week.
14. In case of good news flow, if Nifty breaks 8350, then upward momentum will take Nifty to 8500 levels.
15. But that is not likely unless FIIs stop selling.
16. So expect a volatile and range bound markets next week.