Market Forecast

By Vivek Gupta, CMT , Director Research, CapitalVia Global Research Limited 26 Dec 2014, 05:59 pm

Market Forecast
After bouncing from the major psychological support level of 8000, Nifty November Future series given the positive opening this week and traded volatile in later week as traders roll overed their position in derivative segments and Winter session of parliament ended this week but government was unable to pass key legislative reforms bills passed but government approved 100 % FDI in medical devices via the automatic route. Market breadth turned negative from positive in mid of the weekly trading sessions as a result of assembly poll of Jammu & Kashmir and Jharkhand state. FII were net seller in this week also.

Nifty January Future series given closing at 8269 with the net weekly change of 29.15 points.

Movement of rupee, trend of the global market and investment by FII may affect market movement in near term. Auto mobile stock may remain in focus as most of these companies will declare their sales number in early week.

Nifty Future may remain in range in near term and is likely to continue its northward journey with the crossing of the resistance level of 8375, if it continues to sustain above the support level of 8150.

IndiGo scales up internatio ...

New Delhi/UNI: Riding on growing demand for air travel on foreign routes, budget carrier IndiGo on Friday announced massive scale-up of its international operations launching as many as 174 weekly flights to various cities such as Nairobi, Jakarta, Tashkent and Almaty.

Air New Zealand implements ...

Auckland/NITN: Auckland's Civil Aviation Authority has instructed Air New Zealand to conduct a passenger weight survey on international flights departing from Auckland International Airport until July 2, 2023, to gather critical data on weight load and distribution for planes. This will involve weighing passengers before boarding their flights.

Garuda Indonesia and Singap ...

Garuda Indonesia (GA) and Singapore Airlines (SIA) have announced their plans to establish a joint venture arrangement, aimed at strengthening their cooperation, expanding passenger capacity between Singapore and Indonesia, and offering customers more travel options between the two countries.