Indian Stock Market: Nifty and Bank Nifty Trend | RBI Credit Policy| Q3 Earnings


Indian stock market ended in a positive note last week, Sensex and Nifty gained almost 1 percent whereas Bank Nifty closed flat at the end of the week. Investors have given thumbs up to Modi government Dream Budget. Indian stock market was highly volatile throughout the week as predicted in our last report.


Nifty Top 5 Gainers and Losers of the Week:








Top 5 Gainers of the Week
Company Name LTP  (Rs ) Prev Close (Rs ) Change (Rs ) Change (%)  52 week H/L( Rs)
Zee Entertainmen 354.4 318.4 36 11.31 609.75-288.30
HCL Technologies 1043.85 969.4 74.45 7.68 1,125.05-880.05
Axis Bank 717.25 669.75 47.5 7.09 726.85-481.25
Maruti Suzuki 6962.3 6513.4 448.9 6.89 9,929.00-6,317.70
Asian Paints 1457.2 1372.15 85.05 6.2 1,490.60-1,090.10












Top 5 Losers of the Week
Company Name LTP  (Rs ) Prev Close (Rs ) Change (Rs ) Change (%)  52 week H/L( Rs)
Vedanta 162.15 194.7 -32.55 -16.72 346.20-158.15
Yes Bank 185.6 219.6 -34 -15.48 404.00-146.75
Adani Ports 338.45 373.85 -35.4 -9.47 433.00-292.10
Indiabulls Hous. 678.65 744.5 -65.85 -8.84 1,412.85-639.05
Grasim Inds 718.95 759.6 -40.65 -5.35 1,201.65-708.85


Indian Stock Market: Q3 Earnings


Last Friday after Budget SBI reported the strong Q3 result, its profit beats street estimates, asset quality improves and Net Interest Income (NII) also rose 21 percent YoY. On 31st Jan ICICI bank also declared the Q3 result and the bank missed the street estimates. ICICI Bank reported a fall in profit but asset quality has improved slightly.

Stock Market Events for Next Week: Earnings, RBI Credit Policy, PMI data


After a volatile week, Indian stock market will open as per global cues and on technicals on the first day of the week. The stock market will move as per the Q3 results which are lined up next week like GAIL, HPCL, Adani Ports, Cadila, M&M are few of them. 

The main event in the coming week is RBI Credit Policy which is scheduled on the 7th of February. This is the first RBI Credit Policy of the Governor Shaktikanta Das. After the release of last inflation data (CPI & WPI ), investors and market experts made an expectation of rate cut in February RBI Credit Policy. Investors and traders should monitor closely the outcome of the RBI credit policy.

Other than quarterly earnings and RBI credit policy, January PMI data is scheduled for the next week you should track the outcome. As an investor/trader you should also monitor the global cues next week especially any development in the US-China trade talk and crude price.

You may also like to read: RBI Monetary Policy: CRR | SLR | Repo Rate

Nifty and Bank Nifty Technical levels for Week Ahead


 Nifty Chart 4th Feb
Bank Nifty Chart 4th Feb


Nifty Weekly Outlook - OHLC-(10784.90/11023.20/10597.70/10914.05)

Primary Nifty Trend: Volatile (Bias Up) – Real-Time Volatility of 10.5485 % (Range of 159.50 Points)

Range Bound Nifty Trend: All up moves initiates Profit Booking (sale) @ 11050 whereas all down moves initiate Short Covering (Buy) @ 10785

If Nifty moves above 10970 then you should Buy with 1st Target of 11130 during the day or at any point during the week by Trailing Stop Loss 10775 - 10885 - 10940 - 11040 - 11145 - 11210 FOR the Target of 11215 - 11295 - 11390

If Nifty moves below 10865 then you should Sell with 1st Target of 10705 during the day or at any point during the week by trailing Stop Loss from 11060 - 10955 - 10890 - 10790 - 10690 - 10630  FOR the Target of 10625 - 10542 - 10442


Bank Nifty Chart 4th Feb
Bank Nifty Chart 4th Feb-8th Feb

Bank Nifty Weekly Outlook - OHLC-(27090.00/27599.95/26520.00/27144.65)

Primary Bank Nifty Trend: Volatile (Bias Up) - Real-Time Volatility of 21.9879% (Range of 826 Points)

Range Bound Bank Nifty Trend: All up moves initiates Profit Booking (sale) @ 27460 whereas all down moves initiate Short Covering (Buy) @ 26795

If Bank Nifty moves above 27255 then you should Buy with 1st Target of 27665 during the day or any point during the week by Trailing Stop Loss 26775 - 27040 - 27200 - 27450 - 27715 - 27870 FOR the Target of 27872 - 28080 - 28330

If Bank Nifty moves below 27000 then you should Sell with 1st Target of 26590 during the day or at any point during the week by trailing Stop Loss from 27475- 27210 - 27060 - 26800 - 26550 - 26390 FOR the Target of 26380 - 26175 - 25920


Conclusion

Last week was highly volatile for the Indian stock market because of Budget, Expiry, and Earnings. The stock market ended in the positive note in the last week and FII's were the net buyers. The coming week also Indian stock market would remain volatile as per the above technical charts of Nifty and Bank Nifty. There are also many events lined up in the next week, traders and investors should closely monitor those events before placing any trade.

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Happy Investing!

Finogyan Team





Disclaimer-Finogyan has taken due care and caution in compilation of data for its blog. The views and investment tips expressed by investment experts on Finogyan are their own and not that of the website or its management. Finogyan advises users to check with certified and SEBI registered experts before taking any investment decision. However, Finogyan does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. Finogyan especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.
Indian Stock Market: Nifty and Bank Nifty Trend | RBI Credit Policy| Q3 Earnings Indian Stock Market: Nifty and Bank Nifty Trend | RBI Credit Policy| Q3 Earnings Reviewed by Finogyan on February 03, 2019 Rating: 5

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