MARKET OUTLOOK FOR 19th DECEMBER & REVIEW

Zigzag Movements and Caution at Higher Levels…!!!

Nifty gained smartly for the Second day and ended nearer to 6200 mark. While it appears to have come out of short term bearishness, bullishness would be confirned on a close above 6225. Short term is Neutral with Bullish bias. . Nifty spot is expected to encounter resistance at 6230,  6265 and find support at 6150, 6115 for Tuesday. While Global cues and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market is expected to  witness zigzag movements with alternate bouts of bearishness and bullishness and caution is advised at higher levels

Nifty                               6056        -+66

Review for Monday, 18th October, 2013 :: Smart Rally ..!!

Market continued its strong pullback for the Second day and wiped out more than 50% of the earlier in Two trading sessions. Bank stocks bounced back strongly and all sectoral indices closed in the green led by Bank, FCMCG, Realty, Infra etc., 44 of Nifty stocks closed in the green and broader market too was quite strong with Advance Decline ratio placed at 1.6 :1. JP Associates, L&T, ITC, HDFC Bank, Axis  Bank, stood out as  major gainers among Nifty stocks while Coal India, SSLT, Cipla, Bajaj Auto and Lupin  remained  major losers. ITC, HDFC Duo   contributed about 50  points to Nifty’s gain.

Among F&O stocks,  Bank of India, Union Bank, HDIL, JP Associates, Godrej Industries   remained major gainers  while Sun TV, Hexaware, SSLT, Coal India     remained  major losers.

Inputs provided by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

INDIAN MARKET ON RALLY

Indian markets made a rollicking start to the week with the Sensex soaring over 451 points and the rupee surging by 70 paise to nearly two-week highs today on robust capital inflows tracking Chinese reform initiatives and hopes that the US economic stimulus would be extended. The benchmark S&P BSE Sensex opened 171 points higher and stayed in positive territory through the day to end at an almost two-week high of 20,850.74, a rise of 451.32 points, or 2.21 per cent. It was the biggest gain since October 18. Last week, the 30-share bluechip index closed 266 points lower. The Asian markets were in a buoyant mood after declaration of big-bang economic and social reforms announced at the Chinese Party Third Plenum. This optimism rubbed off on Indian equities as well, said traders.

The CNX Nifty on the National Stock Exchange flared up 132.85 points, or 2.19 per cent, to 6,189. The SX40 on the MCX Stock Exchange closed 247.21 points up at 12,366.6. 

Investors richer by over Rs 1 lakh cr

With the stock market benchmark Sensex today surging over 450 points to settle at nearly two- week high, investors became richer by over Rs 1 lakh crore. 

Following the robust sentiment in the stock market, the total investor wealth soared by Rs 1,05,802 crore to Rs 67,94,300 crore. "Positive global cues, optimism from the US that they are not in hurry to taper stimulus program and also a stronger Rupee fuelled the rally today," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio Limited.
Among the 30-Sensex components, 26 ended the day with gains, led by HDFC Bank that rose by 4.15 per cent.
All the 13 BSE sectoral indices ended the day in green, with Capital Goods index leading the chart with 3.19 per cent gain.
Participating in the market rally, 1,403 scrips advanced for the day, while 1,057 stocks declined and 126 remained unchanged.