MARKETS - DEC 21st Week
Dec 21st Week Nifty Performance
The Nifty managed to end the shortened trading week with gains of 1.3%. Buyers were able to muster up courage and pushed the index up by a percent on Monday. This was despite weak cues from global markets over the weekend. Broader markets followed through for the remaining days of the week. The index seems to be firmly placed to advance higher from current levels. Bulls will have their sights fixed on the psychological mark of 8,000.
The Nifty managed to end the shortened trading week with gains of 1.3%. Buyers were able to muster up courage and pushed the index up by a percent on Monday. This was despite weak cues from global markets over the weekend. Broader markets followed through for the remaining days of the week. The index seems to be firmly placed to advance higher from current levels. Bulls will have their sights fixed on the psychological mark of 8,000.
FII & DII Trading Activity
| DATES | FII (Rs. Crore)2 | DII (Rs. Crore)2 |
| Net Purchase/Sales | Net Purchase/Sales | |
| 385.82 | 632.64 | |
| 168.73 | 238.36 | |
| 37.37 | 62.7 | |
| 591.92 | 933.7 |
Last Week Highlights:
1) During the week, the Reserve Bank of India (RBI) warned state-run banks to stop paying excessive dividends to the shareholders. The statement was made as the risk of bad loans has increased considerably owing to deterioration in the economy.
2) Going further, the People's Bank of China (PBOC) released a statement on Wednesday regarding Chinese Yuan trading. It announced that the trading hours for yuan in mainland China will be extended for an additional seven hours. To note, the current trading hours as per the local times there are from 9:30am to 4:30pm. This will be revised from January 4, 2016, by extending trading hours to 11:30 pm.
3) US data released during the week painted a mixed picture of the US economy. US home resales plunged 10.5% to an annual rate of 4.76 million units during the month of November. This was recorded as the steepest drop since July 2010. Separate data on Tuesday pointed that US gross domestic product (GDP) grew at a 2% annual pace in the third quarter.
Recommendations for week Dec 28th:
| Stock | CMP | R1 | R2 | R3 | SL | Near Term Target |
| BIOCON | 507.55 | 516.15 | 524.75 | 541.95 | 498.95 | 530 |
| KARURVYSYA | 479.6 | 482.9 | 486.2 | 492.8 | 476.3 | 499 |
| VAKRANGEE | 176.65 | 181.6 | 187 | 190 | 172.7 | 200.6 |
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The strategy may not be suitable for you.You may take independent decision at your own risk.
The strategy may not be suitable for you.You may take independent decision at your own risk.
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