Equity Market Tips: Equity Report Weekly

NIFTY 50 8243.80 (58.00)↑(0.71%)

On the first Trading day of the New Year 2017, India’s benchmark index Nifty opened 24 points above its previous day close of 8185. The markets open on a positive note. But later pared gains to turn red on Monday On Tuesday, The Nifty the benchmark Index had a choppy session but went on to make a new high of 8219 and closed at 8192. FII's are not participating in the buy rally. Which is not triggering a buy breakout in the market. On Wednesday, The Nifty to open positive on cues from international markets and thereafter traded in a narrow range of 36 points. The Intraday of the high and low of the Index being 8218.5 and 8180.9 and the Nifty closed with a loss of mere 2 points at 8190. On Thursday, The Nifty saw an upward movement from the beginning of the day as it opened gap up by 30 points at 8226. The Banking Index had a volatile day being the weekly expiry. The Nifty closed up 83 points at 8273. As investors expect the government to achieve its fiscal deficit target for the current fiscal after Union finance minister Mr. Arun Jaitley said tax collection will exceed budget estimates. On Friday, the last Trading day of the week; the Nifty showed profit booking from its day high of 8307 and made a low of 8233 to close at 8244. We had recommended on last week research report (see our weekly report 2 Jan 6 Jan 17) [NIFTY MOVED ON OUR WORDS; NIFTY FUTURE BUY ON DEEP AROUND 8150 TARGET WILL BE 8300-8500. OUR LEVEL EXECUTED ON 2 JAN MADE A LOW AT 8133 & OUR TARGET ACHIEVED ON FRIDAY 6 JAN 2017 NIFTY MADE HIGH AT 8306.85]. The Nifty50 (spot) opened the week at 8210.10, made a high of 8306.85 low of 8133.80 and closed the week at 8243.80. Thus the Nifty closed the week with a gained of 58 points or 0.71%.