Coming week market will watch CPI, WPI data - Debabrata Bhattacharjee, Head of Research - CapitalAim

The benchmark index in the previous month exactly trade at around 11100 levels and later it collapsed to 10585. Now on Thursday it again at around 11100. From past 3 weeks market was on straight upside momentum and likely to take a new ride on upper levels. Nifty index one again at around 61.8 percent retracement of the September-October decline. The index is witnessing a loss of momentum in the previous day's.

The rally is mostly followed by Banking Sectors with the announcement of Govt. of providing liquidity to NBFC sectors majorly NBC Stocks like Ibulhsgfin, DHFL, Bajajfinserve likely to benefit from it. The recovery of Banking stocks in Bank nifty index mainly due to Fast recovery of Debt. from banks with its customers and govt. supports pull up the Banking industry in the country.

On Fridays, Benchmark Nifty corrects almost 22 points or -0.21% at 11035. Ahead in the market it is difficult to sustain above 11090 level. Unless and until a close above that level Nifty index cannot lead to another leg i.e. 11200 levels. Nifty could break 11080-11120 zone to move and hit 11200. The consolidation mode will remain to continue over time for some sessions ahead.

Coming week market will watch CPI, WPI data from Indian Statics. On the International Front we watch out for US Retail sales on Monday and China Markets' Industrial Production. The Indian equity market is likely to remain slightly positive on account of steady inflow by foreign investors. However global front combined with election event are likely to keep index volatile.

Stock Future recommendations :

ACC: BUY| Above : Rs 1580| Target: Rs 1600-1625| Stop loss: Rs 1525|

The Rally in Cement sectors may continue if Nifty index could sustain well above 11100 level. Cement sectors is mostly benefit from the rise in prices of Cements something around 10-20 Rs. Per bag.

BAJAJAUTO : BUY| Above : Rs 2970| Target: Rs 3030| Stop loss: Rs 2925|

Bajajauto is leading manufacture of Two wheeler in Indian and a leader in Exports to other countries. Auto sector is mostly benefited from the correction in Crude oil Prices in International Markets.

BANKINDIA: SELL| Below : Rs 88.50| Target: Rs 86.00| Stop loss: Rs 90.50|

BANKINDIA is not participating the bank rally over all. A sell-off from upper consolidation can lead it down towards 86 or more levels.

Source : Equity Bulls

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