This week as major events awaiting which could influence market in major way. The major expected events are on Monday we have WPI and CPI data, some of major companies results and the most important of partial shutdown of US and expected due date being Oct 17th.
Next week Levels
Last week has been good Indian markets as it closed high and crossed some of they level in which it was trading in range of 5840 - 5950 and has bounced from these levels to higher levels of 6100 which is again a resistance and major resistance being 6140 which I feel is very difficult to break and we may retracing of the market if news flow is not supporting. On the lower levels you 6040 as support area and if it breaks we can again see 5950 levels. As we are expecting major events to play on the market we may see high volatility whole of this week.
Nifty Key level 6040 for downside and 6140 on the upside for major breakout.
Results awaited
Among prominent quarterly results which will be announced next week, Reliance Industries and IndusInd Bank announce their Q2 results on Monday, 14 October 2013. HDFC Bank and TCS announce their Q2 results on Tuesday, 15 October 2013. Bajaj Auto unveils Q2 results on Wednesday, 16 October 2013, when the stock market is closed on account of Bakri Id. Axis Bank unveils its Q2 results on Thursday, 17 October 2013. HCL Technologies announces its Q1 results on Thursday, 17 October 2013. L&T announces Q2 results on Friday, 18 October 2013. UltraTech Cement announces Q2 results on Saturday, 19 October 2013.
Inflation Data
Wholesale price index (WPI) and the consumer price index (CPI), both, for September 2013, are due on Monday, 14 October 2013. wholesale price index (WPI) is seen easing slightly to 6% in September 2013 from 6.1% in August 2013 and he annual rate of inflation based on the combined consumer price index (CPI) for urban and rural India is seen easing a bit 9.4% in September 2013 from 9.52% in August 2013 as per experts.
US Shutdown
Investors across the globe are closely monitoring political developments in the United States as a partial government shutdown continued for the second week. With Obama being adamant if agreements is not reached before 17th of October which is unlikely technichal default of US may impact markets world markets.
Major Stocks and Indicies to watch for this week Oct 14 - 18
Nifty - Expected to be volatile
BankNifty - Expected to be volatile
IT Index - Expected to move up
HCL Tech - Expected to move up
TCS - Expected to move up
Reliance - Neutral towards positive bias even though results could be better
Axis Bank - Neutral and volatile
IndusInd- Neutral and volatile
HDFC Bank - May continue to deliver positive results
Baja Auto - Domestic market may disappoint
Ultratech - Being the weakest quarter for cement do not expect major surprise
Trading levels of some major stocks
Axis - has a support at 1060 which is 38.2% and can head to 1161 and to 1250, If it breaks 1060 convincingly the target for short is 950
Bajaj Auto - Is at all time high and break above 2180 could reach 2300
Bharti Airtel- Is at historical resistance area of 338 which is very strong, close above this level could lead to 52 week high of 357
DrReddy - Has a target of 2480 which is 52 high if it crosses 2430 and below
2400 it could go to 2360, but the bias is upside
DLF - has found support at 151 and heading towards 170 levels, break below 150
levels could move to 130 levels
Havells - Heading towards 730 levels and is in aclear uptrend from 550 levels HCL Tech - in a long term uptrend and can reach 1200
HDFC - has a strong resistance at 817 which is 61.8% retracement level and can
move down to 780 levels for short term, break above 823 could move 860 levels
HDFC Bank - A beautiful chart and is in a clear buy above 663 for 680 - 685 level, below 840 it is sell for 620
Hero Motor - looking stong at these levels and is heading towards 2135
ICICI Bank - Heading again for 1050 levels which is 61.8% level and below 940 could go to 870 levels
IndusInd - Has found support at 394 and is heading towards 450 and if breaks 410 it can go back to 394
Jindal Steel - Is heading towards 260 level as it has move above 244 levels which is 38.2% level
JSW Steel - Looking extremely good and is heading towards 850 levels if it can cross 800
Jubilant food - has found strong resistance level which is 1222 and has started its journey and if breaks 1110 which is 61.8% retracement level it could go to 1075 and 1040 levels which are 50% and 61.8% retracement levels
KotakBank - Has done extremely done when it took support at 670 which is 38.2%
after coming down from 780 and met its target 725, but is not able to move above
and if it breaks 725 level convincingly it could go to 755 on the downside it can retest its previous support area 670 if it breaks 700
LT - Looking extremely good and is at 890 which is 50% retracement level and if
breaks it could go to 940 levels and in the lower side below 840 it will head back to 775 levels
Lupin - At life time high after finding support at 770 levels, if it breaks above 950 its next target is 1000 and the other side below 906 it could come to 870 levels
MCdowell - Always finding resistance at 2585 levels if it can cross 2610 it an reach it all time high of 2800 again and on the other side if comes down below 2450 it will head back towards 2250 levels
Maruti - Is on a strong foot and is heading towards 1500 and 1560 as it has crossed 1428 which is 38.2% and lower side if it comes down below 1400 could head back to 1340 levels
Ranbaxy - Below 385 Ranbaxy can move to 360 levels and on the other side 430 it
can reach 470
RelCapital - Has always found resistance at 360 and above 365 it can reach 380 and on the down side which is more likely if it comes below 340 it could head to 315 levels
Reliance - Is finding resistance at 866 which is 61.8% and if it closes above 870 it can reach 895 levels and down side it could touch 830
RelInfra - Ss heading towards 435, but has formed a bearish candle, if it closes below 410 levels it could again head towrds 390 and 360 levels which is 61.8%
SBIN - Is finding extremely difficult to cross 1685 levels and if it find resistance it could head back to 1450 levels towards lower level and on the higher above 1700 it could reacg 1820 levels
Sun Pharma - Is at alltime high and is consolidating for its next move, above 660 it can reach 700 and towards lower level it can touch 600 first and take support
Tata Motors - The star of last week, look at the way it has moved and is head towards 400, no call as of now better watch to short if it comes below 355 levels
TataSteel - Heading up for a targe of 330 and lower side below 293 can reach 270 levels
TCS - Another bell weather which is heading towrds 2300 levels and extremely strong stock as it has crossed 2075 level
TechM - Another star which is heading towrds 1600 levels, just watch these stocks as we will not get levels to trade unless you hold
Wipro - Not the best stock when it comes to performance, but is a trading stock
if it crosses 500 it is buy and on the other side it comes donw below 475 it can be shorted for a target of 430 levels
Zeel - Always finding resistance at 255 levels and if it breaks baove 260 it can reach 270 levels again.
Yes Bank - A bluechip in making infact and has always delivered, but is high
beta stock, if it can hold 350 levels it can sure reah 380 and 420 levels and below 340 it could head to 300 levels again
No comments:
Post a Comment