Skip to main content

Indian Markets -What to expect next week

Just when it appeared as if the nifty would move past the 3150 mark, it was pulled down by Satyam Computers fiasco. Bears exploited the situation, thrashing stocks across sectors.Profit booking ahead of quarterly earnings announcement could partly account for the crash in some of the mid cap stocks that had recorded good gains over the past month. Volumes were significantly higher especially on Wednesday when the Satyam swindle came to light.

Now,what to expect next week?
Nifty reversed from an intra-week high at 3,147 to close 173 points lower. The weekly chart of the Nifty has been a one-week-up-one-week-down kind of move over the last four weeks.In other words, the index is confined to a narrow band between 2800 and 3150.The short-term view will be clearly defined only on a break-out beyond this range.

The index can resistance at 2,930 and supports exists at 2800. Short-term is positive as long as Nifty sustains above 2780.A strong close below this level will take the nifty down to 2701 / 2502.

Stock levels for index heavy weights:
Reliance Industries - Near-term resistance would be at Rs 1,208 and then Rs 1,274. The supports exists at Rs 1,090 and then Rs 1,020.The medium-term trend in the stock is sideways between Rs 950 and Rs 1,400.

State Bank of India - A reversal from 1150 can take the stock upward to Rs 1,260 or even Rs 1,300. Fresh long trades should be avoided in this stock on a decline below Rs 1,140. Any close below 1140 would take the stock to Rs.1000.

Infosys is one of the rare few stocks among the majors that have closed with a positive weekly close.However, another strong weekly close above Rs.1200 is required to reinforce this positive outlook. Subsequent targets for the stock are Rs 1,260 and Rs 1,307. Near-term supports for the stock are at Rs 1,140 and then Rs 1,060.

ONGC has failed to move past the resistance at Rs 740 is negative in medium-term view.The down move from the Rs 810 peak can now drag the stock lower to Rs 620 again. The stock has strong long-term support around Rs 600.Short-term supports for the stock are at Rs 668 and then Rs 627.Resistances in the week ahead would be at Rs 712 and Rs 734.

Comments

Popular Posts

Your Bill Amounts Are Going To Increase From June 1, 2016

Service tax is a tax levied by the government on service providers on certain service transactions, but is actually borne by the customers. It is categorized under Indirect Tax and came into existence under the Finance Act, 1994. Union Finance Minister, Arun Jaitley, in his budget announcements proposed to impose a cess, called the Krishi Kalyan Cess, @ 0.5% on all taxable services. The present rate of service tax will be hiked to 15 per cent from June 1, 2016, from 14.5 per cent. Take a look at what gets expensive:



Phone Bills: Your phone bills are going to go up. So, pay a good 15 per cent now on service tax on phone bills.

Restaurant Bills :If you are dining in a restaurant that already has service tax applicable, you are going to pay more on your eating out. Though 0.5 per cent on a single bill may not mean much, frequent diners may end-up paying a lot during the year.

Travelling: You will have to pay more for air travel, as there is a service tax on tour operators and travel agents.

Moneycontrol Terminal - Streaming Live Quotes

Moneycontrol has introduced a new feature Moneycontrol Terminal - an enhanced version of real time price updates. Though there were live quotes provided by the website previously, the present form  gives a better update of live quotes of indices and stocks.

This terminal provides live streaming quotes for both NSE and BSE free. It also provides quotes for most of the indices and also the constituents/stocks of the indices in BSE and NSE.  The terminal also provides live news and other market news, which might be useful for traders. The hardware recommended is minimum of 1 GB RAM.

It would be better if stock of any choice could be added ( market watch of a set of stocks ), which would be easier to track one's trading positions. Anyway, this is a better alternative for people who don't have access to any trading software, to view live action of the markets.




You could just try the same here at Moneycontrol Terminal


NSE Level 3 Data

Before we get into details of NSE Level 3 Data, it is important to first understand the basic operations of the stock market.  All publicly traded equities have a bid price and an ask price when they are bought and sold. The bid is the highest price a trader( or an investor) is willing to purchase a stock. The ask is the lowest price in which he is willing to sell a stock.


Depth of the Market(DOM):Looking at a Level 1, Level 2 or Level 3 quotes can give a trader, a basic idea of how a stock is performing at any given time.

Level 1 Market Data provides the basic market data which includes Bid price, Bid size, Ask price and Ask size.

Level 2 Market Data provides more information than Level I data. Mainly, it doesn't just show the highest bid and offer, but also shows bids and offers at other prices. Now level 2 provides market depth data upto 5 best bid and ask prices.

Level 3 Market Data provides market depth data upto 20 best bid and ask prices .  This primarily used by brokers and ma…