Indian Stock Market Outlook: Though there were no major events in the last week Indian Stock Market was volatile throughout the week. Nifty and Sensex declined more than 1.5 percent during the week whereas Bank Nifty was almost flat. The market was negative due to global cues like US shutdown and heavy selling on the metal stock due to China slowdown.
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Conclusion:
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In the domestic front, GST collection was less in the month of December 2018 compared to November, poor auto sells number also dragged down the heavyweight auto socks in Nifty50.
The rise in PSU bank stock and recovery in metal stock surges the Indian Stock Market and it bounced back on the last day of the week,. The emerging markets were in green on Friday as Beijing announced a new round of trade talks with Washington next week.
Indian Stock Market Next Week:
A strong bounced back also seen in Wall Street due to strong job growth data and assurances from FED chairman Jerome Powell that the central bank would be patient while increasing the interest rate. These accelerated the market and Wall Street closed at two weeks high. China has cut the Bank reserve ratios by 1 percent due to the economic slowdown. Globally the news for the stock market was positive on last Friday, this may support Indian Stock Market for next week opening.
Earning session has also started, Infosys Q3 result is on 11th January 2019, next week global cues and corporate earning will derive the Indian Stock Market.
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Top 5 Gainers and Losers of the week:
| Top 5 Gainers of the Week | |||||
| Company Name | LTP (Rs ) | Prev Close (Rs ) | Change (Rs ) | Change (%) | 52 week H/L( Rs) |
| Bharti Infra. | 285.05 | 263 | 22.05 | 8.38 | 381.80-242.25 |
| Yes Bank | 189.65 | 181.45 | 8.2 | 4.52 | 404.00-146.75 |
| Sun Pharma.Inds. | 433.8 | 425.2 | 8.6 | 2.02 | 679.30-390.60 |
| Bharti Airtel | 322.45 | 316.55 | 5.9 | 1.86 | 542.50-276.85 |
| Asian Paints | 1,385.85 | 1,366.00 | 19.85 | 1.45 | 1,490.60-1,090.10 |
| Top 5 Losers of the Week | |||||
| Company Name | LTP (Rs ) | Prev Close (Rs ) | Change (Rs ) | Change (%) | 52 week H/L( Rs) |
| Eicher Motors | 20,103.60 | 23,124.10 | -3,020.50 | -13.06 | 32,236.70-20,001.00 |
| M & M | 725.6 | 803.55 | -77.95 | -9.7 | 993.00-694.00 |
| Hindalco Inds. | 210.9 | 223.5 | -12.6 | -5.64 | 284.00-192.35 |
| Tata Steel | 487.65 | 512.85 | -25.2 | -4.91 | 755.52-479.55 |
| Tech Mahindra | 681.1 | 714 | -32.9 | -4.61 | 780.80-514.00 |
Nifty and Bank Nifty Chart Analysis:
 |
| Nifty Chart 7th Jan-11th Jan |
Nifty Weekly Outlook - OHLC-(10960.00/10984.80/10678.00/10777.60)
Primary Trend: UP-Sideways – Real Time Volatility of 15.88% (Range of 237.25 Points)
Range Bound Trend: All up moves initiates Profit Booking (sale) @ 10880 whereas all down moves initiate Short Covering (Buy) @ 10675
If Nifty moves above 10818 then you should Buy with 1st Target of 10935 during the day or at any point during the week by Trailing Stop Loss 10675-10758-10800-10945-10990 FOR the Target of 10995-11050-11125
If Nifty moves below 10745 then you should Sell with 1st Target of 10628 during the day or at any point during the week by trailing Stop Loss from 10880-10810-10775-10700-10625-10575 FOR the Target of 10570-10510-10440
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| Bank Nifty Chart 7th Jan-11th Jan |
Bank Nifty Weekly Outlook - OHLC-(26925.00/27350.00/26439.60/27278.65)
Primary Trend: Up - Real-Time Volatility of 14.79% (Range of 560.95 Points)
Range Bound Trend: All up moves initiates Profit Booking (sale) @ 27525 whereas all down moves initiate Short Covering (Buy) @ 27230
If Bank Nifty moves above 27430 then you should Buy with 1st Target of 27615 during the day or any point during the week by Trailing Stop Loss 27225-27340-27400-27515-27625-27700 FOR the Target of 27705-27795-27905
If Bank Nifty moves below 27320 then you should Sell with 1st Target of 27140 during the day or at any point during the week by trailing Stop Loss from 27530-27425-27350-27235-27125-27050 FOR the Target of 27040-26960-26845
Also, read our article:Do you trade in the stock market on Stock News? Avoid five common mistakes to earn money.
Conclusion:
The Indian Stock Market may open gap up on Monday, sustaining the positive momentum would be important for the market.Bank Nifty looks strong for next week whereas Nifty would be “Up – Sideways” Traders should follow the global cues and corporate earnings before taking any trade.
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Finogyan Team
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