MARKET OUTLOOK FOR 13th DECEMBER & REVIEW

Second Half Better …!!!

Nifty lost for the Sixth day and is  oversold for short term.  While  Short term trend is Down ,  Intermediate trend continues to be Up. Stop loss for Nifty short positions may be trailed to 6145 on close basis.. Nifty spot is expected to encounter resistance at 6055,  6090 and find support at 5980, 5945 for  Wednesday. While Global cues, Funds flow and Quarterly Results are expected to broadly guide the market movement, based on the present market position, market is expected to  witness zigzag movements with recovery after opening session and particularly Second half.

Review for Tuesday, 12th October, 2013 :: Further Fall… Oversold in Short Term ..!!

Nifty                               6018         -61

Indices continued their fall for the Sixth day in succession as Bears tighten their grip further. Nifty closed nearer to 6000 mark.. 40 of Nifty stocks have fallen and broader market too is negative with Advance Decline ratio placed at 1:1.6.   FMCG and Pharma indices gained while Metal, PSU Bank, Infra, Auto, Realty and Energy indices declined. Ranbaxy, M&M, ITC, Cairn, Sun Pharma remained major gainers among Nifty stocks while JP Associates, Tata Motors, Axis Bank, DLF, Tata Power remained  major losers. ICICI Bank, Tata Motors, HDFC  dragged down  Nifty by about 25 points.

Among F&O stocks,  Bata India, Divis Lab, IB Realestate, Biocon, Canara Bank  remained major gainers  while Hexaware, RCom, Apollotyre, Rel Infra     remained  major losers. 

Inputs provided by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

He can be reached @

SENSEX @ ONE MONTH LOW

he benchmark Sensex extended losses for the sixth straight day and fell 209 points to a one-month low today as the rupee continued to drop against the dollar before the release of industrial production and consumer inflation data.  The 50-share CNX Nifty on the National Stock Exchange dipped 60.75 points, or 1 per cent, to a one-month low of 6,018.05. The SX40 on the MCX Stock Exchange ended 93.76 points lower at 12,086.48. The rupee, which fell for the fourth session yesterday, dropped further and approached the 64 level. The currency's slide against the dollar lowers the value of investments by foreign institutions in stocks and bonds, said analysts. A lower rupee also increases the import bill and could fuel inflation. 

Tata Motors, ICICI Bank and Reliance Industries were the biggest drag as 26 of the 30 shares on the index fell. Sesa Sterlite and Tata Power were among the big losers. Metal, power and auto sector stocks led 12 of the 13 BSE group indices lower. 

IS IT A SIGN OF DOWNTREND?

Indian markets are fast losing their fizz with the benchmark Sensex down almost 1,000 points since a cracker of a Diwali and the rupee heading towards the 64-mark against the dollar, a level not seen since August 21. Continuing its freefall for the sixth day in a row, the Sensex today slid 209 points at a one-month low of 20,281.91 before the release of industrial production and consumer inflation data. It has shed over 957 points since ending at the record close of 21,239.36 on November 3. Over the past few sessions, stocks markets have been affected by fears of Fed tapering its USD 85 billion a month stimulus, profit-booking by investors and rating agency S&P's warning that India could be downgraded if the next government fails to reverse slide in economic growth. Similarly, the rupee closed down 47 paise at a fresh two-month low of 63.71 amid bearish local equities and demand for the US currency from importers. The rupee has plunged 209 paise, or 3.39 per cent, in five straight sessions. It is at the lowest level since closing at 63.84 on September 10. The rupee is just 29 paise away from 64-mark. The currency had closed below the 64-level on August 21, 2013.