Hello Friends

Indian Benchmark Index Nifty Closed at 8139 levels on Friday cracking 8160 levels which was acting as a good support for the Index. The Next Week is expected to be range bound as markets will be in Holiday Mood with low FII Volumes due to Christmas vacations. Looking at Open Interest Figures below there is huge open interest built up at 8000 and 8300 levels as shown below :

However, the following should be kept in Focus :

  1. Oil retailers BPCL, IOCL etc etc may show positive moves after a petrol and diesel price hike by Rs. 2.21 and Rs 1.79 respectively on Friday.
  2. US & UK GDP data will be announced next week which too should be watched closely.
  3. Bank of Japan's Interest rate decision shall also guide the market direction.
Also, the Quality stocks may show good moves inspite of market being range bound, so hold on your investments, nothing to worry.

Happy Investing !!!

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