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Weekly Market View

In the week ended Friday, 17 August 2018, the Sensex gained 78.65 points or 0.21% to settle at 37,947.88, its highest closing level since 9 August 2018. The Nifty 50 index rose 41.25 points or 0.36% to settle at 11,470.75, its record closing high. The BSE Mid-Cap index rose 95.66 points or 0.59% to settle at 16,306.44. The BSE Small-Cap index rose 82.01 points or 0.49% to settle at 16,866.21. Both these indices outperformed the Sensex.
sectoral updates
The US-China trade talks, macroeconomic data, progress of monsoon, trend in global markets, investment by foreign portfolio investors (FPIs) and domestic institutional investors (DIIs), the movement of rupee against the dollar and crude oil price movement will dictate trend on the bourses next week. The Indian stock market will remain shut on Wednesday, 22 August 2018, on account of Bakri Id.
Domestic stocks logged small gains in the truncated trading week gone by marked with high volatility. Indices gained for fourth straight week as investors cheered strong earnings by Indian companies in April-June quarter. The Sensex settled a tad below the psychological 38,000 level. The Nifty settled at record high.

fii and dii

Progress of monsoon will be watched. The India Meteorological Department (IMD) in its weather report on 16 August 2018 said that for the country as a whole, cumulative rainfall during southwest monsoon from 1 June 2018 to 15 August 2018 has been 9% below the Long Period Average (LPA). The June-September southwest monsoon is critical for the country’s agriculture because a considerable part of the country’s farmland is dependent on the rains for irrigation.

nifty trading idea

 

Nifty Levels and Nifty Trading Strategy

Nifty Traders  may follow the below mentioned levels for 20.08.2018 to 24.08.2018

Buy above 11,470 for targets of 11,520/11,570

Sell below : 11,420 for targets 11,380/ 11,350

Disclaimer: All views expressed in this site are for reference only. Readers must consult their own investment adviser  before taking any investment/ trading decision. We hold no financial liability to any user on account of use of information provided on this website. Due to the market’s volatile nature, the trader may/ may not get appropriate opportunity to execute the trades at the mentioned prices. Ace Investment Advisory hold’s no liability for any profit/ loss incurred whatsoever in this case.