Weekly Market Outlook - Vijay Singhania, Founder Director - Trade Smart Online

"Indian markets are expected to see an positive opening as the chances of Fed Rate hike in September 2016 off the table. Lack of surprises in Yellen's remarks is completely in line with most expectations and the key takeaway that is"nothing's changed."

Federal Reserve Chairwoman Janet Yellen's speech acknowledged that strengthening economy and that rates could, accordingly, move higher over coming months.

Indications are clear that likelihood of an interest-rate increase to occur at the Fed's September 2016 meeting has reduced and its more likely to happen December 2016.

Apart this other domestic factors which will continue to affect sentiments in the coming week include outcome of the monthly surveys on India's manufacturing sectors. Markit Economics will announce the India Manufacturing PMI for August 2016 on Thursday.

Auto stocks will be in focus as companies start unveiling monthly sales volume data for August 2016 from Thursday. Also, state-owned oil marketing companies will be in focus as a fuel price review is due at the end of the month.

Meanwhile, DLF and MOIL will announce their Q1 June 2016 results on Monday. While Indian Oil Corporation will consider bonus issue of shares and its Q1 June 2016 results on Monday. Bharat Petroleum Corporation will announce its Q1 June 2016 results on Wednesday.

Nifty continues to trade under pressure. Needless to say, we're still in consolidation phase and need a decisive trigger for the next directional move. Unfortunately, our recent domestic events have failed to provide that push so far and now all eyes are on the global markets. On index front, either side decisive break from prevailing range that is 8500-8700 in Nifty would set the tone ahead".

Source : Equity Bulls

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