16.12.2013

Nifty Weekly Range For The Week 16th Dec -- 20th Dec 6025 -- 6316, Either Side Sustaining Will Give More 100 Points More.

Outcome of RBI, Fed policy meetings to dictate trend.

Corporate advance tax payment for Q3 December 2013, data on inflation based on the wholesale price index, outcome of the ongoing Winter Session of the Parliament, outcome of the Reserve Bank of India's mid-quarter monetary policy review and outcome of the two-day policy meeting of the Federal Open Market Committee will dictate near term trend on the domestic bourses. Trend in investment by foreign institutional investors, trend in other global emerging markets and the movement of rupee against the dollar hold key.

The government will unveil data on inflation based on the wholesale price index (WPI) for November 2013 on Monday, 16 December 2013. WPI is seen easing a bit at 6.9% in November 2013, from 7% in October 2013, as per the median estimate of a poll of economists carried out by Capital Market.

The Reserve Bank of India (RBI) announces next Mid-Quarter Review of Monetary Policy for 2013-14 on Wednesday, 18 December 2013. The Third Quarter Review of Monetary Policy for 2013-14 is scheduled on 28 January 2014.

The Federal Open Market Committee (FOMC) holds a two-day policy meeting on interest rates in the United States on 17-18 December 2013. The US central bank currently buys bonds worth $85 billion a month in a bid to hold interest rates low and encourage economic growth in the world's biggest economy. Minutes of the Fed's October meeting released on 20 November 2013 showed officials may reduce their $85 billion a month of bond buying if the economy improves as anticipated.

Fed's bond-buying program has been a source of liquidity for most Asian and emerging markets this year.

The Bank of Japan (BoJ), which buys more than 7 trillion yen ($67.6 billion) of Japanese Government Bonds (JGBs) every month in its bid to stoke inflation, holds a two-day monetary policy meeting on 19 and 20 December 2013.

NOTE : AFTER 1ST TGT HIT KINDLY REVISED SL TO COST PRICE !

TRADING CALLS 

CASH

BUY CENTURY TEX 254 SL 249 TGT 257.50 / 262

BUY BOI 209 SL 204 TGT 213.50 / 218 / 222

BUY GODREJIND 258 SL 254 TGT 262 / 266

SELL COAL 285 SL 289 TGT 281.50 / 276

SELL BERGER BELOW 226.50 SL 230 TGT 222 / 216

DISCLAIMER : THE AUTHOR IS NOT RESPONSIBLE FOR ANY LOSSES DURING ANY TRADE THIS IS MY VIEW !!