My Market View For Next Week

My view daily chart  Nifty & Bank Nifty has reached a resistance level ,For Nifty5220 is a strong rist level But turned 5169and formed Bearish Engulf pattern ,as well as Bank Nifty also reached 9900 Resistance level made a high 9972 But can’t sustain at the level closed at 9679 and in candle stick it also Formed Bearish Engulf pattern.

 In next week Major Events are their Monday IIP data YoY Jul (Exp 6.20%, Prior 8.80%), Wednesday Monthly Wholesale Prices YoY Aug (Exp9.64%, Prior 9.22%),Friday RBI Monetary Policy Repo Rate (Exp 8.25%, Prior 8.00%) CRR (Exp 6.00%, Prior6.00%) Reverse Repo Rate(Exp 7.25%, Prior7.00%) In a meeting with the Reserve Bank of India, banks agreed to waive prepayment charges on floating rate loans. The removal of prepayment penalty will make it easier for customers to shift loans to other banks if they get a better interest rate. Also, it will increase competition among banks. The central bank is of the view customers should not be exposed to rate volatility and banks should be able to hedge their risk through appropriate instruments. However, the RBI has allowed banks to charge appropriate prepayment penalties in the case of fixed rate loans. Waiver of prepayment charges will also impact the margins of these banks as it constitutes a major chunk of their other income.

And in Stocks like Icicibank,LT,RIL,SBIN, and Tatasteel all are in Bearish moody .So in coming week Market will In high volatile in down side trade with Cautious,,,,,  Nifty can Retest 4930 & Bank Nifty 9350.

THE ONELY POSITIVE NEWS

The Union finance ministry has taken up a review of the current Securities Transaction Tax (STT) regime after a meeting with topexchange officials. While a waiver of STT in the soon-to-be-launched small and medium enterprises (SMEs) segment of the exchanges is adone deal, a similar change of rule for the equity segment was being looked into. If it becomes reality, then it will lead to increase in trading volume for equity market due to returning back of proprietary trading, arbitrageur and jobbers.