Weekly Equity Market Analysis Report 29 To 04 Feb

Markets reversed from the strict resistance levels on daily charts just after the first session of the week and fell consecutively for three sessions and volatility was also seen due to Railway Budget and Feb F&O Expiry which finally made the indices towards weekly loss of more than 2%. Now, Nifty future is near to the 52 week lows and major support from current levels is seen around 6870 while on any pull back it may face resistance around 7260 sustaining above which it may lead towards 7410. The most awaited trigger for the markets in the coming week is Union Budget 2016-17 on Monday.

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TECHNICAL VIEW:

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MARKET GOSSIPS:

  • Market tanks more than 2 percent this week; Nifty ends below 7050 mark.
  • Tata Elxsi, KPIT, United Spirits, PC Jeweller, Cummins India, Indo Count Industries, Granules is included in F&O today.
  • Maruti Suzuki hits fresh low on NSE on the bourses.
  • United Spirits surged 3 percent on the NSE today on the exit of Vijay Mallya.
  • LIC today buys 59 pct of NTPC shares on offer.
  • Zee Entertainment ends on a flat to positive note as plans to launch a video platform called OZEE.
  • L&T surged after its subsidiary signed long term agreement with McDermott International.
  • Bharti Airtel shares tanks despite on news that company joins hands with SoftBank.
  • Tata Steel loses iron ore mine allotment; stock ends on a flat note.

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NIFTY WEEKLY:

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