Skip to main content

Markets next week - action packed

We have an action-packed week ahead with the Reserve Bank of India set to announce its monetary policy review on Tuesday and the expiry of January derivatives settlement scheduled on Thursday. Volumes recorded last week indicate that investors and traders are in sidelines and they are in wait and watch mood. Foreign Institutions (FIIS) are once more in the exit mode, having sold close to $1 billion (Rs.5000 Cr) in January.

What to expect next week:

Nifty has declined below the key support level of 2750 last week, signaling the continuation of downtrend from 3150. The next supports for the week would be at 2600 and later 2550/2500. Short sellers should watch out for sudden upward reversal from this area.

Short-term resistance for the week would be at 2750 and 2800. Failure to move past the first resistance of 2750 would imply that the downtrend is secure.

Stock levels for index heavy weights:

Reliance Industries - RIL announced its quarterly results and it did not have any major impact.The stock moved lower from an intra-week high of peak at Rs 1,250 (freak high rate of 1335).The stock is in a trading range of 1100 to 1250.An rally would be limited to 1250,from here on. Break below of supports of 1100, would drag down the stock to 1000/930.

State Bank of India
- SBI declined below the key support at Rs 1,140 on Monday, but remained range bound.Near-term view for this stock is not that bullish.The next major supports would be at Rs 1000 / Rs 940.The stock will face resistance at Rs 1,220 in the week ahead.

Infosys failed to move past the resistance at Rs 1,300 as indicated last week and declined to an intra week low of Rs 1,190. The stock has key support level of 1150. Breach of this level would take the stock to the levels of Rs 1,120/1,065.

Popular posts from this blog

Historical Sensex Returns Updated - 2024

Historically Sensex has given returns of about 15% per year, despite volatility and price fluctuations of about -20% to +60%. The following table shows S&P BSE Sensex historical data - start  & close values and the yearly returns of the sensex from 2000 to 2024. So far during the year the   index has hit an all-time high of  75,124   and despite markets hitting all time highs not all stocks make all-time highs. There are many stocks still below their highs. Stocks like HDFC Bank, ITC, Asian paints are still well below their highs and some of them have given low returns over last 3-5 years. Individual or Retail investors can achieve consistent returns through investing via mutual funds , whether it be active or passive. Chasing returns from individual stocks is futile. Be a wise investor !

Mutual Funds - How to modify KYC or do rekyc?

Last year SEBI issued a circular effective April 1, 2024 regarding KYC norms for the securities market. This has created a lot of confusion among investors and intermediaries, whether who has to do rekyc and who need not? First check your KYC status from CVL KRA . If the 2nd column says KYC VALIDATED, then you are good to go - no action required. You can invest and redeem all the funds. If it says registered, you can invest in existing Fund houses. You have do rekyc to invest in new fund houses/ schemes. If it is on hold, you have to do rekyc.  You can do rekyc completely online from the AMC's websites, links of which are given below: Bandhan Mutual Fund - Bandhan Canara Robeco Mutual Fund - Canararobeco DSP AMC - Dsp Franklin Templeton Asset Management Franklintempletonindia HDFC Mutual Fund Hdfc ICICI Prudential Mutual Fund Icicipruamc Kotak Mahindra Mutual Fund  Kotak SBI Mutual Fund  Sbi Investors having KYC status of  'Registered' or 'On Hold' can complete thei...