For the weekend  05th Mar'21-Friday... Updated on 01.03.21, Monday-6.30 am

Last week Nifty trend: Nifty Index as expected and written last week, opened on positive note at 14999.05, our expected opening band i.e., 14975-15025, made low at 14657.70 on Monday, thereafter, the Index moved up till 15176.50, further global sell-off dragged the Index till 14467.75 on Friday and closed the week at 14529.75 on negative note with weekly loss by -452.60 points i.e., -3.02%. 

This week Nifty Trend: The Nifty index may open on Monday i.e., 01st Mar'21, on positive note, subject to the Asian market move, near 14560-14635, if open and sustain above 14635 then, the Index may try to re-test 14685-14730-14820-14870-14920-14970-15020-15070-15175-15295-15430 levels. On the other hand, the immediate support lies at 14530-14467 levels, any further down move below 14467 then, the Index may re-visit 14385-14336-14295-14222-14085-13995-13810-13775-13690-13600 levels.

Key Events: No major key events are expected this week, on the global front, as well as on the domestic front, other then the India Inc. remaining corporate companies quarterly results for the Q3 (Oct-Dec'20 quarter), as of 28th Feb, 3797 companies announced their Q3 numbers, the Q-o-Q basis net profit has lost the positive momentum and maintaining marginally gain about 0.50%, when compares with the last quarter. On Y-o-Y basis, it is sustaining the growth at 66.10%, compares with the same period last year Dec'19, we should wait and watch the remaining corporate companies results, in the ensuing days. The Q3 numbers of the remaining corporates, the global weakness and FIIs Funds flow are the trend deciders for the market direction in the near term, price valuation i.e,, Price Earnings ratio-PE, has come down from the recent peak level i.e., 42 times and settled on Friday at 39.65. 

Special Mention: Last week, the Nifty Index on opening move made 14635 and took support, tried to move up once again beyond 15070-15170, made weekly high 15176.50, but the global weakness once again dragged down the Index till our weekly support level i.e., 14500, made weekly low 14467 and closed well above 14500, though the Nifty Index corrected with sell-off but the FIIs continued their buying spree last week also, if the FIIs turn to sell further, then the Nifty Index may test 14300-13975-13600 levels this week itself. On the other hand if, the Nifty Index if able to moves, sustain and closes above 14750 for three consecutive trading sessions with weekly close then it may try to re-test 14970-15170-15320-15432 levels in the near term. Last week the GDP data for the Q3 i.e, (Oct-Dec'20) was released, the GDP was rebounded from the negative terrirtory to positive zone, it was out of recession with marginal gain by 0.04%.

Sector wise performance: Last week, all the major sectoral Indices were traded with negative note except Nifty Energy, Nifty Metal & Nifty Realty. The Nifty IT was leading with the weekly loss -4..71%, followed by Nifty Financial Services lost -3.95%, Nifty Auto lost -3.51%, Nifty Pharma lost -3.40%, Nifty Bank -2.90%, Nifty FMCG lost -2.68% and Nifty Metal gained 7.62%, Nifty Energy and Nifty Realty gained marginally by 0.60% and 0.50% respectively. On the other hand, Nifty Midcap Index closed on positive note with weekly gain by 0.65% and Nifty Smallcap Index also closed with a weekly gain by 0.87%. 

Institutional Investors trading data: The Foreign Institutional Investors-FII's last week continued as a net buyer in the Equity segment, they bought to the tune of Rs.18169.79 crore on the net basis; whereas, the Domestic Institutional Investors-DII's, turned as a net buyer, they bought to the tune of Rs.280.81 crore on the net basis, as per the data forwarded to the SEBI. We must watch the FIIs behaviour this week, whether they continue the funds flow or not.

USD Vs INR: The USD Vs INR appreciated from the weekly low level i.e.,$72.26 and moved up till $74.17 and closed on Friday at $73.97,  as expected and written last week, it was a crucial for USD Vs INR, taken a good support at $72.26, not broken our support level i.e.,72.21, it moved up beyond our resistance zone i,e., 73.57. This week, if the USD vs INR moves above $74.17-74.37 then, it may try to re-test $74.51-74.70-74.95-75.30-75.68. On the other hand if it is unable moves above $74.17 on the upper side then, it may re-visit $73.91-73.76-73.61-73.44-73.21-73.15-73.06-72.91-72.73 levels in the near term. 

Tading Strategy: The Investor/trader, those who started to invest near 14500 levels, hold the positions and further investment can be made near 14300-14000 levels, if the Nifty trades near these levels for the medium term perspective to gain 5-15% reuturn in Nifty 50 stocks and if the Nifty moves near 15000-15300 levels then start book profit in partial manner.

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Wishing you for a safe and secured with profitable trading.