*Market Mantra: 23/12/2016 (08:30)*
*Watch 7980-7940 & 8035-8075 Zone In Nifty Fut (Dec), Which May Open
Around 7975 Today*
As par early SGX indication, Nifty Fut (Dec) may open around 7975 (-30
points) following tepid global/Asian cues, strong USD and ongoing
domestic concerns about slower economic activity & political disruptions
as a result of demonetization.
Overnight US market closed in negative after mixed US economic data
yesterday amid holiday thinned trade. Although revised Q3 GDP & durable
goods order came above expectations, jobless claims jumped and personal
income & spending growth was also tepid, which may be an indication of
adverse effect of a stronger currency (USD) in US economy.
EURUSD gained some strength after upbeat comments by ECB about EU
inflation & growth as a result of recent depreciation of EUR. Also, some
hawkish comments by German Fin Min Weidmann that ECB may be behind the
curve in normalizing its monetary policy and should not afraid to hike
or normalize has prompted some bids in EUR.
Thus, era of incremental easy money policy may be gradually over in the
next few quarters, considering a hawkish Fed and even neutral ECB & BOJ.
Although, there are significant geo-political and banking risks in EU,
ECB may be forced to adapt neutral policy in the days ahead keeping in
mind about hawkish Fed (divergent monetary policy). A strong USD is
itself acting as “stimulus” for EUR and also for JPY (BOJ).
EM and also Indian market may be the biggest looser for this strong USD
and neutral stance of ECB/BOJ in the days ahead.
Back to home, all eyes may be on the 2^nd day of GST meeting today for
any further clue about its progress and implementation and also on the
pace of remonetization & ongoing political battle.
*_Actionable trading idea hints:_*
*Technically, NF has to sustain over 7940 area today; otherwise it may
further fall towards 7915/7900*-7840 & 7790*-7700 for the day (under
bear case scenario).*
*On the other side, sustaining above 7980 zone, NF may further rebound
towards 8015/8035-8075* & 8105-8145/8170* area for the day (under
bullish case scenario).*
*Similarly, BNF (LTP: 17946), has to sustain above 18000 area; otherwise
it may further fall towards 17900-17800* & 17725-17650* zone for the day
(under bear case scenario).*
*On the other side, sustaining above 18100 zone, BNF may further rebound
towards 18250*-18375 & 18450-18600* area for the day (under bullish case
scenario).*
<https://1.bp.blogspot.com/-dRd8-E3ERig/WFygs08fZQI/AAAAAAAAJ6I/xSoBdFOusO4iMiifMTV5biGHxxnaxh_9ACLcB/s1600/SGX-NF-23-12-2016.png>
SGX-NF
<https://3.bp.blogspot.com/-lV0N_6qChnI/WFygw_01efI/AAAAAAAAJ6M/XbreTbuZcLUn-5PUCT6Ai2pGc3uPyv6RgCLcB/s1600/BNF-FIBB-22-12-2016.png>
BNF
--
Thanks & Regards,
Asis Ghosh
--
Kindly email stock reports at
STOCKRESEARCHER@googlegroups.com
For sharing knowledge
-- NIFTYVIEWS.COM NOW A FREE OPEN SOURCE WEBSITE.
http://www.niftyviews.com/
Disclaimer :-
"The opinions expressed by the members on this board are based on
their individual experience and perceptions and to share information
with other members with the best of intentions to help fellow members
in investment decisions as equity investment is a risky venture.The administrator of
www.Niftyviews.com just provide a platform for the authors to express their opinion
and take no guarantee for the genuineness of the same."ANY member of this forum
doesnt prepare or publish any research report; or ii. provide research report; or
iii. make 'buy/sell/hold' recommendation; or iv. give price target;
---
You received this message because you are subscribed to the Google Groups "Niftyviews.com" group.
To unsubscribe from this group and stop receiving emails from it, send an email
to stockresearcher+unsubscr...@googlegroups.com.
For more options, visit https://groups.google.com/d/optout.
