Indian markets ended up on a positive note last week. Nifty posted gains of 1.97 percentage and closed at 6276. The GDP data and the fiscal deficit data announced after the market hours were not supportive. GDP growth for the December quarter came at 4.7 percentage which was below the expectation. Meanwhile, the fiscal deficit exceeded the annual target of 86 Billion USD in just 10 months.
Auto numbers were not that great though the excise duty was cut. HSBC Manufacturing PMI for India would be released tomorrow. Expectation is 51.2 Vs 51.4
After five consecutive days of up move in the Indian markets, I expect the markets to correct a bit. Be careful with the high beta stocks that had run up in the last five days like Axis bank.
Our Dow Jones call (Short Sell) given on Friday got triggered. https://www.facebook.com/compulsivetrader/posts/777802698898034?stream_ref=10
Expect Dow Jones to correct and trail your SL for wind-fall profits. Russia's provocations in Ukraine might bring the bears back into action. Have a tight SL in all your trades on the long side.
Events to Watch
HSBC Manufacturing PMI for India
Spanish Manufacturing PMI
Italian Manufacturing PMI
Hong Kong Retail Sales (YoY)
French manufacturing PMI
German manufacturing PMI
Singapore PMI
US Manufacturing PMI
US Core PCE Price Index(MoM)
US Personal Spending
US ISM Manufacturing PMI
For LIVE market calls, visit https://www.facebook.com/compulsivetrader
Auto numbers were not that great though the excise duty was cut. HSBC Manufacturing PMI for India would be released tomorrow. Expectation is 51.2 Vs 51.4
After five consecutive days of up move in the Indian markets, I expect the markets to correct a bit. Be careful with the high beta stocks that had run up in the last five days like Axis bank.
Our Dow Jones call (Short Sell) given on Friday got triggered. https://www.facebook.com/compulsivetrader/posts/777802698898034?stream_ref=10
Expect Dow Jones to correct and trail your SL for wind-fall profits. Russia's provocations in Ukraine might bring the bears back into action. Have a tight SL in all your trades on the long side.
Events to Watch
HSBC Manufacturing PMI for India
Spanish Manufacturing PMI
Italian Manufacturing PMI
Hong Kong Retail Sales (YoY)
French manufacturing PMI
German manufacturing PMI
Singapore PMI
US Manufacturing PMI
US Core PCE Price Index(MoM)
US Personal Spending
US ISM Manufacturing PMI
For LIVE market calls, visit https://www.facebook.com/compulsivetrader
