*Market Mantra* <https://www.iforex.in/news>: 15/01/2018 (09:00)
SGX-NF: 10725 (+41)
For the Day: updated: 14:40
*For 15/01/2018: Jan-Fut***
*Key support for NF: 10695/10640-10590/10560*
*Key resistance for NF: 10750/10775-10815/10850*
*Key support for BNF: 25600/25500-25325/25200*
*Key resistance for BNF: 25775/25875-26000/26200*
*Trading Idea (Positional):*
*Technically,*Nifty Fut-Jan (NF) has to sustain over 10775 area for
further rally towards 10815/10860- 10955 & 11095-11155 zone in the short
term (under bullish case scenario).
*On the flip side,*sustaining below 10750 area, NF may fall towards
10695/10640-10590/10560 & 10515/10450-10415/10360 zone in the short term
(under bear case scenario).
*Technically,*Bank Nifty-Fut (BNF) has to sustain over 25875 area for
further rally towards 26000/26100-262000/26250 & 26325-26615 zone in the
near term (under bullish case scenario).
*On the flip side,*sustaining below 25825 area, BNF may fall towards
25600/25500-25325/25200 & 25000-24850 area in the near term (under bear
case scenario).
*Indian market*(Nifty Fut-Jan/India-50) is now trading around 10740,
surged by another 0.50% be off the day high of 10774 as broader market
may be coming under selling pressure mirroring late selling in China &
HK market and *flat opening of EU market *
<https://www.iforex.in/news/europe-may-edged-down-lower-usd-47839>contrary
to earlier solid gains.
Indian market sentiment was today boosted by renewed optimism about
private banking space on hopes of corporate earnings revival (+21% in
Q3FY18?) and B/S & NPA/NPL clean up despite mixed set of report cards so
far and digitalization optimism.
Also, fund raising and growth in affordable housing may have boosted
HDFC today and along with that rally in other private banks
(HDFC/ICICI/AXIS) are supporting the market today; both Nifty & Bank
Nifty has scaled fresh life time high of 10782.65 & over 26050 on
portfolio buying & power of DII liquidity.
Meanwhile, Indian WPI for Dec came lower at 3.58% vs est 4% (prior:
3.93%; WPI is Indian version of PPI; although a lower WPI may result in
lower inflation in the coming days, it’s may be also an indication of
tepid pricing power by the manufacturers and subdued demand/economic
activity; Dec Core WPI came at 3.1% vs 3% (MOM), almost at same level;
fall in food/VEGETABLE inflation may be seasonal (Winter).
Overall market sentiment was also being supported by ongoing global
goldilocks rally and hopes for a market friendly budget, but boiling oil
& central bank quantitative tightening (QT) and US corp tax cuts may be
some of the spoilers in the coming days.
<https://1.bp.blogspot.com/-Eluk6Y5uWag/WlxzL8eDclI/AAAAAAAAOhE/Ocd9gDltkdMbMagT-6mBvFV3VJlDAzgAgCLcBGAs/s1600/SGX-NF-15-01-2018.png>
SGX-NF
<https://4.bp.blogspot.com/-xQBHh9V0IJQ/Wlxzoa-4QnI/AAAAAAAAOhI/-qcxkz9_RQQZ7d1yoyEjNCI6D_ekI4xzACLcBGAs/s1600/SPX-500-PATTERN-15-01-2018.png>
SPX-500
--
Thanks & Regards,
Asis Ghosh
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