WEEK AHEAD:-
source :- sify
Movements are likely to be somewhat volatile for most part of the coming week, a truncated one due to a holiday on Thursday for Maha Shivratri, with investors looking ahead to the GDP data due to br released on February 28.
The near month derivatives contracts expire on Wednesday (26 February) and this could result in some wild swings in several top notch stocks that are part of the F&O segment. The coming week will see the beginning of trading in the National Stock Exchange's volatility index (India VIX), which is based on the index option prices of CNX Nifty.
On the economic front, the data on India's GDP for the third quarter ended December 2013 will be out on Friday (28 February). In the second quarter of this fiscal, the country a 4.8% surge in GDP, up from 4.4% a quarter earlier.
Much before the release of the GDP data for the third quarter, investors will get to know the performance of eight core sectors in January 2014. The figures, due for release coming Tuesday, will give some insight into what is likely to be in store for the final quarter of this fiscal.
With the reporting season over, the focus will mostly be on the GDP data and on developments in global markets. With top rung automobile and cement manufacturers due to come out with their monthly sales and shipments data over the next week end, shares from these two sectors will attract some attention.
The rupee's movements against the U.S. dollar will provide some direction to the market in general and stocks from information technology and healthcare sectors, in particular.
The Wall Street's subdued close on Friday (21 February) is likely to render price movements a bit sluggish on the Asian bourses early next week. Thereafter regional news will take the centre stage
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Technical Analysis.
Nifty may face resistance around 6196 and 6265 where Fibonacci levels 61.8% and 78.6% come. As shown in daily chart below movement is corrective in nature, Therefore the up move from 5932 may terminate any of above Fibonacci level.
