This week market may remain volatile ahead of F&O expiry and Q4 GDP data
Last week Sensex rose 65 points or +0.40% to 16217 and Nifty rose 29 points or +0.59% to 4920 in the week ended 25-05-2012. Last week if we see on weekly chart on closing basis then we can say that market ends flat, but in green. Looking to technical ways, nifty is still in down formation. Next week is last week for F&O expiry so we will see high volatility with stock specific movements. This week keep focus on Q4 GDP data announcement which is on Friday 1-6-2012. This week’s support on closing basis at 4878. If nifty close below this level then Dont hold any long positions
in your basket. and Remain neutral in market. On other side if nifty close above 4954 for two days then we may see nifty upto 5081 to 5119 in coming days. This is the last week for f&o, so we recommend you all to trade less with strict sl.- KEEP SL IN SYSTEM NOT IN YOUR MIND.
- KEEP STRICT SL IN EVERY TRADE AND POSITIONS
- BEFORE YOU TRADE ON SYSTEM FIRST DECIDE THE SL AND THEN TRADE.
WEEKLY INDEX SUMMARY
INDEX | LAST WEEK 25-05-2012 | PREVIOUS WEEK 18-05-2012 | PERCENTAGE % (+/-) | POINTS (+/-) |
|---|---|---|---|---|
| SENSEX | 16217.82 | 16152.75 | +0.40% | +65 |
| NIFTY | 4920.40 | 4891.45 | +0.59% | +29 |
The market may remain volatile as traders roll over positions from the near-month May 2012 series to June 2012 series. The May 2012 derivatives contracts expire on Thursday, 31 May 2012
The government will announce Q4 March 2012 gross domestic product (GDP) data on Friday, 1st JUNE 2012. The Indian economy expanded 6.1% in the October-December quarter from a year earlier, the weakest pace of expansion in more than two years, hurt by slower growth in manufacturing output and a contraction in mining production.
Automobile and cement shares will be in focus as companies from these two sectors will start unveiling monthly sales volume data for May 2012 from Friday, 1 June 2012.
HSBC’s monthly purchasing managers’ index (PMI), which indicates the health of the manufacturing sector, is likely to be released next week. The HSBC India PMI, compiled by Markit, rose to 54.9 in April from 54.7 in March.
The Q4 March 2012 earnings season is drawing towards a close. Investor focus is on the guidance provided by the management for the year ending March 2013 (FY 2013) to gauge the earnings outlook.
Coal India announces FY 2012 consolidated results on Monday, 28 May 2012. Tata Motors, ONGC, Steel Authority of India and Power Grid Corporation of India announce FY 2012 results on Tuesday, 29 May 2012. Sun Pharmaceuticals Industries announces Q4 results on the same day. GAIL (India) and DLF unveil Q4 results on Wednesday, 30 May 2012. Mahindra & Mahindra (M&M) and Jaiprakash Associates unveil FY 2012 results on the same day. (Data Source: Capitalmarket)
NIFTY WEEKLY CHART
WEEKLY NIFTY SUPPORT 4878 AND RESISTANCE 4955
NIFTY FUT. (4918)Buy above 4960 Target 4999-5040-5081-5119
Sell below 4872 Target 4824-4785-4747
Sell below 4872 Target 4824-4785-4747
-Always Remember, put SL in your every trade.
- Weekly Levels are Closing Basis, so follow on closing basis.
- Weekly Levels are Closing Basis, so follow on closing basis.
Rupesh Yatesh Dalal
Head Research Department
Head Research Department
Website : www.marketcalls.net
Facebook : www.facebook.com/marketcalls.net
Twitter : @marketcallsnet
Yahoo Messenger : rupeshydalal@yahoo.com
Email : info@marketcalls.net
