*Market Mantra: 16/01/2017 (08:30)*
*Watch 8380-8350 & 8455-8485 Zone In Nifty Fut (Jan), Which May Open
Around 8395 Today*
*Concerns of capital market & FPIS taxation issues (LTCGT & triple
taxation-DDT), any adverse EC decision regarding budget day ahead of
state polls and tepid progress of GST may drag the market.*
As par early SGX indication, Nifty Fut (Jan) may open around 8395 (-25
points), slightly in negative following tepid global cues amid renewed
concerns of “Hard Brexit” talks by UK PM tomorrow. UK is in great
pressure from nearly all its stake holder to divulge a clear & specific
plan for its “divorce” from the UK. Immigration & access to EZ common
market may be the two biggest issues, which may pave the way for a “hard
or soft” Brexit; but in any way as par May, “Brexit is a Brexit”.
On Friday, US economic data was mixed; although headline inflation came
good, core inflation was still tepid. Overall, trade protection rhetoric
by Trump is not being seen as too harsh & serious by the market, as it
was largely intended for Mexico so far and not against China, Russia or
Canada (NAFTA). But, on close scrutiny, even if, such trade barrier
rhetoric may be good for USD, it will be eventually negative for US
stock market.
For now, USD is being driven by US bond yields movement, ahead of
Trump’s inaugural day on 20^th Jan.
Domestically, apart from Q3 result, progress of GST, budget talks all
eyes may be on the political front also as EC may announce its decision
on budget day and also on the SP/Akhilesh & Cong equation. Although, as
of now, BJP may be ahead in UP election, lack of any credible name for
the CM post may also hamper its prospect in the coming days as Akhilesh
Yadav is being seen as a “young & dynamic” CM candidate despite intense
family drama.
*Hints for actionable trading ideas:*
*Technically, NF has to sustain over 8380-8350* area today; otherwise it
may further fall towards 8290*-8250 & 8205*-8155 zone for the day (under
bear case scenario).*
*On the other side, sustaining above 8455-8485* area, NF may further
rally towards 8515-8545* & 8585*-8685 zone for the day (under bullish
case scenario).*
*Similarly, BNF (LTP: 18970) has to sustain over 19150 area for any
further rally towards 19250-19400* zone (under bullish case scenario).*
*On the other side, sustaining below 19100-19000 zone, BNF may further
fall towards 18700*-18600/18500 area for the day (under bear case
scenario).*
<https://1.bp.blogspot.com/-4cQXfXJi9yU/WHxDLL-d8tI/AAAAAAAAKKE/4ipuuX8sASgOkyeniFBRv21y5YOPYzURQCLcB/s1600/SGX-NF-16-01-2017.png>
SGX-NF
<https://2.bp.blogspot.com/-27HLoBwWTs4/WHxDM1ZrDaI/AAAAAAAAKKI/hgCtNKdkIBcU1pzw7y6AiQXOF61HCZUaQCLcB/s1600/BNF-13-01-2017.png>
BNF *
*
--
Thanks & Regards,
Asis Ghosh
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