*Market Mantra: 13/01/2017 (08:30)*
*Watch 8405-8350 & 8435-8485 Zone In Nifty Fut (Jan), Which May Open
Around 8442 Today*
As par early SGX indication, Nifty Fut (Jan may open around 8442 (+20
points) after yesterday’s lower CPI & higher IIP data despite
demonetization woes.
Overnight US market was tepid, but off the lows following upbeat views
by Yellen and some other Fed members about strength of US economy and
prospect of rate hikes. As par Yellen, Fed is for higher US employments
and decent inflation for US economy.
Thus, despite disappointment by Trump’s presser, USD is getting strength
across the board before retail sales data later today. Also, whatever be
Trump’s political risks, market is expected his administration to at
least announce some tax cuts and spending plan after he take over the
Oval office.
Oil is also higher after Saudi pledge of cuts implementation and
improved demand from China. Also, today’s trade data from China is not
so bad although export has suffered more than market expectation.
After upbeat CPI/IIP & TCS result, Indian market today will look to Infy
for its guidance as tepid result may be already discounted.
All eyes may be also on the EC today or in the weekend, for any final
decision about budget day.
*Hints for actionable trading ideas:*
*Technically, NF needs to sustain over 8465-8485* zone for further rally
towards 8510-8545* & 8585*-8635 area for the day (under bullish case
scenario).*
*On the other side, sustaining below 8435-8405* area, NF may fall
towards 8380/8350*-8305/8290 & 8225/8205*-8180/8125 zone for the day
(under bear case scenario).*
*Similarly, BNF (LTP: 18899) need to sustain above 19150 area for
further rally towards 19250-19400* for the day (under bullish case
scenario).*
*On the other side, sustaining below 19050 area, BNF may further fall
towards 18750*-18550 area for the day (under bear case scenario).*
<https://3.bp.blogspot.com/-Kc4yh8iJ6io/WHhOI6emNKI/AAAAAAAAKJA/8Z4YFglKNUI92MadSo0dHp4gNUfvFPs6QCLcB/s1600/SGX-NF-13-01-2017.png>
SGX-NF
<https://1.bp.blogspot.com/-8dQAd7hFHao/WHhOKCNgcII/AAAAAAAAKJE/atu7MQ_hPQkg7lDjlj-CJiiXRSnoRnQvgCLcB/s1600/BNF-12-01-2017.png>
BNF
--
Thanks & Regards,
Asis Ghosh
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