Weekly Nifty and Bank Nifty Update

Posted March 16, 2019 by contactmail86

This Press release is all about Nifty and bank nifty fluctuation in upcoming week, so we have recommended our stock for the next week.

Nifty View

Nifty50 Traded strongly bullish on last Friday and managed to closed with weekly gain of around more than 3% . Albeit Nifty50 traded in a broader range of 394.40 points before signing off the session with a small bullish candle and a strong advance/decline ratio ahead of truncated week can be suggesting that bulls are in accumulation phase. Rollover spread observed around 54.15 where as PCR Noticed 1.52.

Bank Nifty View

Bank Nifty futures added massive open positions to the tune of ~23%, indicating a build-up of long positions. Rollover spread observed around 116.35 where as PCR Noticed 1.42. Index showing good strength on weekly charts and managing to trade above its 20 DMA and 50 DMA

1. While the deadlock over the resolution plan for Jet Airways continues, the distressed airline’s lenders are confident that a breakthrough is likely to come soon.
2. It is by desire that this airline keeps running, that is the fundamental difference between this and other NPA accounts," the official said. "We are hopeful to have a resolution in one week."
3. US crude futures eased slightly on March 15 after hitting a 2019 high, as worries about the global economy and robust US production put a brake on prices.
4. US crude futures eased slightly on March 15 after hitting a 2019 high, as worries about the global economy and robust US production put a brake on prices. West Texas Intermediate (WTI) crude oil futures settled down 9 cents at $58.52 a barrel, having hit their highest so far this year at $58.95.Brent crude futures settled down 7 cents at $67.16 a barrel, below their 2019 peak of $68.14 reached on. March 14.US crude ended the week 4.1 percent higher, and Brent was up 1.9 percent
5. Yamaha Motor India on March 14 launched its new 155 cc bike MT-15 priced at Rs 1.36 lakh (ex-showroom Delhi). The bike comes with liquid-cooled four-stroke engine mated to a six-speed transmission.
6. Finance Minister Arun Jaitley said Friday the government's priority for the future would be infrastructure development and clearing backlog of defense procurement, among others. Development of rural India and improvement of healthcare and education would be the other priority areas, he said at the Hindu Business Line award function here.
7. India's trade deficit narrowed to $9.60 billion in February, dragged down by a fall in gold and oil imports, the trade ministry said in a statement on Friday. Trade deficit was $14.73 billion in January. In February, merchandise exports rose 2.44 percent from a year earlier to $26.67 billion, while imports were down 5.41 percent to $36.26 billion, data showed.
8. HDFC Bank, which crossed the $100-billion market capitalization on Thursday based on the price of its American Depositary Receipts, is valued at more than the combined market value of Japan’s No.1 financial banking group, Mitsubishi UFJ Financial, and the top German lender, Deutsche Bank. Only banks in the US, China, the UK and Canada are now valued more than India’s largest private sector lender.
The US Federal Reserve will remain patient for a little longer than thought just last month, waiting until the third quarter before raising rates once more, and then stay on the sidelines, a Reuters poll of economists showed.

10. LT FUT: - Stock closed around its important resistance i.e. of 1415.90 if sustain above it that buying activity may continue.

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Last Updated March 16, 2019