Author: Maitri Parikh

During the current week, Nifty witnessed a highly volatile session, after breaking the trend line support at 15,160, after touching the high levels of 15,250 on the same day. It made the lows of 14,977, trading below 15,000 mark during the week. Sensex neared 52,000, touching 51,780 and it fell to 51,314 on the same day, witnessing a movement of around 466 points.

The market touched the high levels as it countersigned fund inflows from FIIs and FPIs. Better than expected quarterly result season also aided in uplifting the investors’ sentiments in the equity market. All the banking stocks have been continuing their uptrend, since a day before the RBI policy was announced, where, the RBI kept the rates unchanged as a plan to infuse liquidity in the market in order to revive the country’s economy from the adverse effect of COVID-19. However, the markets dipped as the investors started booking the profits, after the markets touched high levels.

The volatility in the market has been contributed by major global economic events such as US’ CPI inflation at part with the market expectations, better than expected crude oil inventory numbers, unemployment claims and Factory Orders, Eurozone’s and UK’s Final Services PMI and PPI, which supported the uptrend. Whereas, lower than expected UK’s construction PMI numbers, Eurozone’s Retail Sales, US’ Non-Farm Employment Change weighed on the equity markets.

As far as sectoral indices Nifty PSU Bank has gained as more as 8.3% in past 6 trading sessions, Nifty Metal has gained 5.0%, Nifty Realty gained 4.7%, Nifty Energy, Nifty Financial Services and Nifty Auto gained more than 2.5%, Nifty Pharma and Nifty FMCG gained more than 1.5% during the same period. Whereas, Nifty Media lost 3.3% during the same period.

For the upcoming week, 15,250 will be an important level to keep an eye at. We expect Nifty to be in the range of 15,000 – 14,882 – 14,800 to 15,250 – 15,285 – 15,380 for the week, whereas, we expect Bank Nifty to be in the range of 35,400 – 35,013 – 34,599 to 36,197 – 36,612 – 36,996.

#beelinebroking #stockmarket #stocks #investing #trading #money #investment #finance #forex #investor #business #trader #stock #sharemarket #daytrader #nifty #daytrading #sensex #success #nse #NGS #NavGujaratSamay

Disclaimer: http://bit.ly/2uLiAVH

During the las week in the COMEX market, prices of all the base metals such as Aluminum, Copper, Iron Ore, Lead witnessed a downward trend, wherein, Iron Ore observed a steep fall of 10.8% as compared to the close prices of the week before. However, zinc gained by 1.4% during the same period. As far as precious metals Gold and Silver are concerned, both observed a downfall by 2.4% and 3.2%, closing at $1,808.55 and $26.53 respectively on Friday.

The prices of precious metals fell drastically last week due to the strengthening of Dollar and a surge in US Treasury yields, which increased the holding cost of precious metals in the hand of investors. Also, a loose monetary policy by most of the major central banks, suggesting more liquidity in the market, to revive the global economy, also had a negative impact on the precious metals.

A part from this, better than expected economic data such as UK’s Final Manufacturing PMI and Final Services PMI, Italian Manufacturing PMI, French Manufacturing PMI, Prelim CPI, and Trade Balance, German Manufacturing PMI, Eurozone’s Prelim Flash GDP, Financial Services PMI and PPI, US’ ADP Non-Farm Employment Change, Financial Services PMI, ISM services PMI, Crude Oil Inventories, Unemployment Claims and ISM Manufacturing Prices also weighed on the precious metals.

For the current week, investors needs to keep an eye on economic data such as German Trade Balance, Italian Industrial Production on 9^th February, German Final CPI, French Industrial Production, US’ Core CPI, Crude Oil Inventories, Fed Chair Powell’s speech, and BOE Governor Bailey’s speech on 10^th February, German WPI, EU Economic Forecasts and US’ Unemployment Claims on 11^th February, UK’s Prelim GDP, Goods Trade Balance, Industrial and Manufacturing Production on 12^th February.

In the current week, we expect gold in COMEX market to be in the range of $1,754 to $1,912, while silver is expected to be in the range of $23.9 to $31.8. Whereas, as per our prediction for bullion market traders, gold futures will trade in the range of 45,113 to 51,939.

#beelinebroking #commodity #trading #investing #daytrader #gold #silver #metals #investment #finance #success #money #commoditytrading #NavGujaratSamay #NGS

Disclaimer: http://bit.ly/2uLiAVH