The market is likely to be volatile this week.- Automobile and cement stocks will be focus as companies from these two sector start unveil monthly sales volume data for August 2012 from Saturday, 1 September 2012.
- Market Economics will unveil HSBC India Manufacturing Managers’ Index (PMI) for August 2012 on Monday, 3 September 2012. On Wednesday, 5 September 2012, Market Economics will unveil HSBC India Services PMI for August 2012.
- The HSBC India Manufacturing PMI, which gauges business activity at India’s factories but not utilities, fell to 52.9 in July, from 55 in June ~ its biggest one-month drop since September last year. Still, the index has remained above the 50 mark that divides growth and contraction for more than three years. Manufacturing accounts for around 15% of India’s gross domestic product.
- In Europe, European Central Bank (ECB) holds its monthly policy meeting on euro area interest rates on Thursday, 6 September 2012. The ECB slashed its interest rates to an all-time low in July. The ECB is expected to continue its easing cycle, probably as soon as in September, to help the economic recovery of recession- and crisis-ridden members of the euro zone.
- German Chancellor Angela Merkel holds a meeting with Spanish Prime Minister Mariano Rajoy on Thursday, 6 September 2012.
- UK’s central bank — The Bank of England — holds its monthly meeting on interest rates on Thursday, 6 September 2012.
- The Federal Open Market Committee (FOMC) holds a two-day meeting on US interest.
Nifty Weekly View:
- Nifty taking Support @ 50DMA. Now 50 DMA @ 5258. As per Trend line another gigantic Support at 5200. Any Close below this 5200, will Drag Nifty 200 DMA at 5120 levels.
- On the Upside Bulls have a seen close above 5355 and then a close above 5400. After then can move towards 5488 and 5577 levels.
- Our short term target for Nifty: The Minimum Target will be 4700+1097 = 5867.
So these levels should be noted carefully to found further Support and Resistance.
- Nifty made low on 20-12-2011 @ 4531 Nifty made high on 22-02-2012 @ 5628 Total Rally is 1097 Points. 75% correction of 1097 is 822 @ 4805. Nifty may bounce from 4770 levels. The minimum Target will be 4770+1097= 5867. Only Close below 4977 will terminate above view.
- Nifty weekly Range will be at 5200-5244-5288-5355-5400-5438
- Weekly Resistance at 5355-5400-5488
- Weekly Axle at 5288
- Weekly Support at 5244-5200.
Gold Weekly View
- Gold Mcx October as seen in the weekly chart above has opened at 30,984.00 initially moved lower, and as expected found very good support at 30,656.00 levels. Later prices rallied sharply towards 31,405 levels and finally closed sharply higher from the previous weeks closing levels.
- This week we expect gold prices to find Support at 31,130.00–31,000.00 levels and further below strong support is seen at 30,860.00-30,830.00 levels. Trading consistently below 30,820.00 levels would trigger sharp correction initially towards 30,382.00 then 30,198.00 and then finally towards the major support at 29,756.00 levels.
- Resistance is observed in the range of 31,600.00-31,630.00 levels. Trading consistently above 31,630 levels would lead towards the strong resistance at 31,880.00levels, and then finally towards the Major resistance at 32,200.00 levels.
Gold Trading levels for the week:
- Trend: UP
- Support at 31,130.000-30,860.00
- Resistance at 31,600.00-31,800.00
- Advice: Buy Gold Mcx Oct Around 31,140.00-31,000.00 SL 30,700.00 Target 31,600.00
{Or}
Sell Gold Mcx Oct Around 31,840.00-31,880.00 SL 32,160.00 Target 31,500.00
Silver Weekly View
- Silver Mcx December as seen in the weekly chart above has opened at 59,700.00 levels initially moved lower, but found support at 58,601.00 levels. Later prices rallied sharply towards 61,170.00 levels, and finally closed sharply higher from the previous weeks closing levels.
- This week we expect Silver prices to find support in the range of 60,240.00-60,200.00 levels and then strong support is seen at 59,300.00-59,250.00 levels. Trading consistently below 59,240.00 levels would trigger correction initially towards 58,240.00 levels and then finally towards the major support at 57,670.00 levels.
- Resistance is now observed in the range of 61,880.00-61,940.00 levels. Trading consistently above 61,940.00 levels would lead towards the strong resistance at 62,800.00 levels and then finally towards the major Resistance at 63,400.00 levels.
Silver Trading levels for the week:
- Trend: Up
- Support at 60,240.00-59,300.00
- Resistance at 61,880.00-62,800.00
- Advice: Buy Silver Mcx Dec Around 60240-60140 SL 59200 Target 61300.
{Or}
Sell Silver Mcx Dec Around 61940-61880 SL 62400 Target 61500-60850.
Copper Weekly View:
- Copper Mcx November as seen in the weekly chart above has opened at 431.15 levels initially moved higher, but found strong resistance at 432.90 levels. Later prices fell sharply towards 423.00 levels and finally closed lower from the previous weeks closing levels.
- This week we expect Copper prices to find support in the range of 422.50-421.50 levels and further below strong support is seen at 417.80-416.80 levels. Daily closing below 416.80 levels would indicate that a short term top has been posted and thereby correction can be expected initially towards 413 and then finally towards 408.80 levels.
- Resistance is now observed in the range of 431-433 levels. Trading consistently above 433 levels would lead towards the strong resistance at 437.60 and then finally towards the major resistance at 441.10 levels.
Copper Trading levels for the week:
- Trend: Side-Ways
- Support at 422.50-417.80
- Resistance at 431.10-437.60
- Advice: Buy Copper MCX Nov Around 422.50-421.50 SL 417 Target 428-431.
Crude Weekly View:
- Crude Mcx September as seen in the weekly chart above has opened at 5363.00 levels initially moved sharply higher and as expected found good resistance at 5424.00 levels. Later prices fell sharply towards 5257.00 levels and finally closed marginally higher from the previous weeks closing levels.
- This week we expect Crude prices to find support at 5295.00-5285.00 levels. Trading consistently below 5280.00 levels would lead towards the strong support at 5130.00-5110.00 levels. Daily closing below 5100.00 levels would indicate that the current rally has come to end and thereby correction can be expected initially towards 4990.00 levels and then finally towards the major support at 4893.00 levels.
- Resistance is now observed in the range of 5456.00-5466.00 levels. Trading consistently above 5470.00 levels would extend the previous week’s rally initially towards 5548.00 levels and then finally towards the Major resistance at 5625.00 levels.
Crude Oil Trading levels for the week:
- Trend: Up
- Support at 5295.00-5130.00
- Resistance at 5456.00-5548.00
- Advice: Buy Crude Mcx Sep Around 5300-5290 SL 5235 Target 5365-5450.
Economic Indicators For The Week:
| Date & Time |
Region |
Events |
Period |
Survey |
Prior |
|
09/03/2012 & 06:30 |
CH |
Non-Manufacturing PMI |
Aug |
— |
55.6 |
|
09/03/2012 & 08:00 |
CH |
HSBC Manufacturing PMI |
Aug |
— |
49.3 |
|
09/03/2012 & 10:30 |
JN |
Vehicle Saies {YoY} |
Aug |
— |
36.10% |
|
09/03/2012 & 10:02 |
GE |
PMI Manufacturing |
Aug F |
45.1 |
45.1 |
|
09/03/2012 & 13:30 |
EC |
PMI Manufacturing |
Aug F |
45.3 |
45.3 |
|
09/03/2012 & 14:00 |
UK |
PMI Manufacturing |
Aug |
46.1 |
45.4 |
|
09/04/2012 & 14:30 |
EC |
Euro-Zone PPI {MoM} |
Jul |
0.20% |
-0.50% |
|
09/04/2012 & 19:30 |
US |
ISM Manufacturing |
Aug |
50 |
48 |
|
09/04/2012 & 19:30 |
US |
ISM Price Paid |
Aug |
46 |
39.5 |
|
09/04/2012 & 19:30 |
US |
Construction Spending MoM |
Jul |
0.4% |
0.4% |
|
09/05/2012 & 02:30 |
US |
Total Vehicle Sales |
Aug |
14.20M |
14.05M |
|
09/05/2012 & 02:30 |
US |
Domestic Vehicle Sales |
Aug |
11.05M |
11.00M |
|
09/05/2012 & 8:00 |
CH |
HSBC Services PMI |
Aug |
— |
53.1 |
|
09/05/2012 &13:25 |
GE |
PMI Services |
Aug F |
48.3 |
48.3 |
|
09/05/2012 &13:30 |
EC |
PMI Composite |
Aug F |
46.6 |
46.6 |
|
09/05/2012 & 13:30 |
EC |
PMI Services |
Aug F |
47.5 |
47.5 |
|
09/05/2012 & 14:30 |
EC |
Euro-Zone Retail Sales(MoM) |
Jul |
-0.20% |
0.10 |
|
09/05/2012 & 16:30 |
US |
MBA Mortgage Application |
31-Aug |
— |
-4.30% |
|
09/05/2012 & 18:00 |
US |
Nonfarm Productivity |
2QF |
1.80% |
1.60% |
|
09/05/2012 & 18:00 |
US |
Unit Labor cost |
2QF |
1.40% |
1.70% |
|
09/06/2012 & 14:30 |
EC |
Euro Zone GDP s.a.(QoQ) |
2QP |
-0.20% |
-0.20% |
|
09/06/2012 & 15:30 |
GE |
Factory Orders MoM (sa) |
Jul |
0.30% |
-1.70% |
|
09/06/2012 & 16:30 |
UK |
BOE ANNOUNCES RATES |
6-Sep |
0.50&% |
0.50% |
|
09/06/2012 & 17:15 |
EC |
ECB Announces Interest Rates |
6-Sep |
0.50% |
0.75% |
|
09/06/2012 & 17:45 |
US |
EDP Employment Change |
Aug |
145K |
165K |
|
09/06/2012 & 18:00 |
US |
Continuing Claims |
25-Aug |
3315K |
3316K |
|
09/06/2012 & 19:30 |
US |
ISM Non-Manf.Composite |
Aug |
52.5 |
52.6 |
|
09/07/2012 & 11:30 |
GE |
Export SA(MoM) |
Jul |
-0.50% |
-1.05% |
|
09/07/2012 & 11:30 |
GE |
Imports SA {MoM} |
Jul |
-0.30% |
-3.00% |
|
09/07/2012 & 11:30 |
GE |
Current Account {Euro} |
Jul |
13.5B |
16.5B |
|
09/07/2012 & 11:30 |
GE |
Trade Balance |
Jul |
15.3B |
17.9B |
|
09/07/2012 & 14:00 |
UK |
Industrial Production {MoM} |
Jul |
1.50% |
-2.50% |
|
09/07/2012 & 14:00 |
UK |
Manufacturing production {MoM} |
Jul |
1.80% |
-2.90% |
|
09/07/2012 & 15:30 |
GE |
Industrial Production MoM {Sa} |
Jul |
0.00% |
-0.90% |
|
09/07/2012 & 18:00 |
US |
Change in Non Farm Payrolls |
Aug |
125K |
163K |
|
09/07/2012 & 18:00 |
US |
Change in Private Payrolls |
Aug |
140K |
172K |
|
09/07/2012 & 18:00 |
US |
Change In Manufact. Payrolls |
Aug |
10K |
25K |
|
09/07/2012 & 18:00 |
US |
Unemployment Rate |
Aug |
8.30% |
8.30% |
|
07-12 Sep |
GE |
Whole Sale Price Index {Mom} |
Aug |
—- |
0.30% |