MARKET OUTLOOK FOR 14th DECEMBER & REVIEW

GENERALLY BETTER...

Nifty lost for the Seventh 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 6125 on close basis.. Nifty spot is expected to encounter resistance at 6030,  6065 and find support at 5950, 5915 for  Thursday. 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  be generally better as pullback is overdue inview of oversold position. However, as market is closed on Friday, selling could emerge in the closing session.

It can be expected that Wednesday's high level could be crossed during the course of the day. 

 Nifty                               5990         -28

Review for Wednesday, 13th October, 2013 :: Nifty below 6000 ..!!

Indices continued their fall for the Seventh day in succession as Bears tighten their grip further. Nifty closed below  6000 mark.. 28 of Nifty stocks have fallen and broader market too is negative with Advance Decline ratio placed at 1:1.6.   PSU Bank, Auto and Metal indices gained while Realty, FMCG, Infra, Media, IT indices declined. Tata teel, Hindalco, Sun Pharma, SBI, Tata Motors remained major gainers among Nifty stocks while Cipla, GAIL, HDFC Bank, Indusind Bank and SSLT remained  major losers. ITC, HDFC Bank and Reliance   dragged down  Nifty by more than 20  points.

Among F&O stocks,  Arvind, Hexaware, RCom, Tata Steel,   remained major gainers  while GMR Infra, Tata Global, Andhra Bank, Rel Infra, Petronet     remained  major losers.

Inputs provided by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

He can be reached @

SENSEX FALLS SEVENTH STRAIGHT DAY

The benchmark Sensex fell for the seventh straight session and ended 88 points lower in choppy trade today after a rise in retail prices spurred worries the RBI would increase rates again to contain inflation. Weak global cues on fresh talk of the US tapering its stimulus also kept the market under pressure. The 30-share S&P BSE Sensex moved erratically in a range of 20,161.64 to 20,365.59 before ending at 20,194.40, a fall of 87.51 points or 0.43 per cent. It's at the lowest level since October 8. The index has lost 1,044.96 points in the past seven sessions, its longest losing streak since the eight days ended August 2, when it declined 1,138.11 points. The 50-share CNX Nifty on the National Stock Exchange declined 28.45 points, or 0.47 per cent, to end at 5,989.60. Nifty has broken the strong support level of 6000. The SX40 index on the MCX Stock Exchange fell 84.36 points to end at 12,002.12. 

INFLATION IMPACT

Inflation as measured by the consumer price index rose to 10.09 per cent in October, entering double digits after seven months, according to government data released after market hours yesterday. To contain inflation, the Reserve Bank of India increased a key rate on October 29 for the second time since Raghuram Rajan took over as Governor on September 4. Industrial production grew 2 per cent in September, mainly on account of better performance in the power and mining sectors. Asian stocks closed down after China's leaders failed to outline economic reforms and on bets the US Federal Reserve would start easing its stimulus next month.

Realty, FMCG, IT and banking sector stocks declined, while auto counters were in demand after decent Q2 results by Mahindra & Mahindra. ITC, HDFC Bank and TCS were among the shares that dragged the index lower, while Tata Motors and Mahindra supported it. The biggest losers included GAIL India, Cipla and Sesa Sterlite.