Dalal Street Week Ahead: November Week 2 | Stocks and Commodities

November 5, 2018
Time: 8.10 am

Dalal Street Week Ahead:

1. After 2 months of huge selling, some buying has happened last week.
2. SOme stocks even doubled in one week like PC Jewellers.
3. Most PSU Banks shot up by 20 to 50%.
4. Nifty was up by 6%, Bank Nifty 5% and miscap index 7%.
5. Short sellers could not bring the markets down, on two days Nifty shot up more than 200 points from intraday low to high.
6. Crude oil helped our markets to recover.
7. Along with the Crude, Rupee also appreciated by 2%.
8. But coming weelk will be an eventful week.
9. On Monday Chinese President will deliver keynote address at Shanghai Expo, people will be looking for some clue regarding trade deal with US.
10. On Tuesday USmid term polls will be a major event to watch.
11. As per predictions, Democartes likely to win and that may not be a good news for markets.
12. Then on Thursday Fed policy meet which may be a non event.
13. Earnings season will come to end in the coming week both in India and US.
14. Coming week has only three trading sessions.
15. As long as 10500 is not broken, we can expect Nifty to teast 10850, 50% retracement of fall from 11760 to 10000.
16. Bank Nifty may do better than Nifty due to Axis Bank result and SBI result on Monday.
17. As long as Bank Nifty holds 25500, it can move towards 26000.
18. Though there are only 3 trading sessions, expect a good move either side due to so many events.
19. We may slightly out perform the world markets due to local cueslike RBI relaxting rules for Banks to help NBFCs, Axis Bank result, etc.
20. Even the fall in Crude will be helping the bulls.
21. Expect Nifty to trade between 10400and 10800.
22. Expect Bank Nifty to trade between 25000and 26000.