Nifty : 30/12/2019
A healthy broad based rally well supported by Banks ...
Looking at the global markets we are all set to claim a new ATH may be this week itself..
High crude prices and rupee depreciation may cause a dent in the rally though..
Support @ 12170 and next @ 12120
Week ahead:
Auto sales:The focus in the coming week would be on auto stocks (Maruti Suzuki, Tata Motors, M&M, Eicher Motors, Bajaj Auto, Hero MotoCorp, TVS Motor, Ashok Leyland, Escorts) as sales data for the month of December, and cumulative data for FY20 will be released by companies on first day of 2020.
Rupee depreciation: The Indian rupee move will be closely watched in the coming week as the currency continued to depreciate for the second consecutive week due to a consistent rise in crude oil prices, which all impacted domestic flows.
Higher oil prices: Crude oil prices gradually moved up during the month and started trading more higher than its three-month high, which is critical for a country like India that imports more than 85 percent of its crude oil requirements, and which also impacts its currency.
Macro data: On last day of the year (January 31), the data for government's Budget value and the infrastructure output for November will be released. Current account and external debt data for the quarter that ended on September 2019 will also be declared on the same day.
Markit Manufacturing PMI data for December will be released on January 2, while data on the foreign exchange reserves for the week that ended on December 27, and deposit and bank loan growth for the fortnight that ended on December 20 will be announced on January 3.
US-China trade developments: Globally, the trade deal optimism is expected to remain for the coming days as most experts expect both countries to sign the deal in January. Hence the demand for riskier assets may continue, which started since after both US and China announced they have reached a phase one trade deal earlier this month.
Posts are not recommendations!
Looking at the global markets we are all set to claim a new ATH may be this week itself..
High crude prices and rupee depreciation may cause a dent in the rally though..
Support @ 12170 and next @ 12120
Week ahead:
Auto sales:The focus in the coming week would be on auto stocks (Maruti Suzuki, Tata Motors, M&M, Eicher Motors, Bajaj Auto, Hero MotoCorp, TVS Motor, Ashok Leyland, Escorts) as sales data for the month of December, and cumulative data for FY20 will be released by companies on first day of 2020.
Rupee depreciation: The Indian rupee move will be closely watched in the coming week as the currency continued to depreciate for the second consecutive week due to a consistent rise in crude oil prices, which all impacted domestic flows.
Higher oil prices: Crude oil prices gradually moved up during the month and started trading more higher than its three-month high, which is critical for a country like India that imports more than 85 percent of its crude oil requirements, and which also impacts its currency.
Macro data: On last day of the year (January 31), the data for government's Budget value and the infrastructure output for November will be released. Current account and external debt data for the quarter that ended on September 2019 will also be declared on the same day.
Markit Manufacturing PMI data for December will be released on January 2, while data on the foreign exchange reserves for the week that ended on December 27, and deposit and bank loan growth for the fortnight that ended on December 20 will be announced on January 3.
US-China trade developments: Globally, the trade deal optimism is expected to remain for the coming days as most experts expect both countries to sign the deal in January. Hence the demand for riskier assets may continue, which started since after both US and China announced they have reached a phase one trade deal earlier this month.
Posts are not recommendations!
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