NIFTY OUTLOOK FOR 25th NOVEMBER & REVIEW OF 24th NOVEMBER

MID SESSION BETTER

Nifty gained about 2% on the first day of the week and appears to have reversed the 3 week losing momentum. However, it should not go below 6000 mark and close above Monday’s high level to confirm the strength. Nifty spot is expected to encounter resistance at 6150, 6185 and find support at 6075, 6040 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 display zigzag movements with better midsession and might experience profit booking in the closing Session. 

 Nifty                               6115        +120

Review for Monday, 25th November, 2013 :: Huge Rally  ..!!

Market opened better and rallied further after a pause in the afternoon and closed with a gain of about 2% and Nifty closed above 6100 mark. 46 of Nifty stocks closed in the green and broader market too is positive with Advance Decline ratio placed at 2.2 : 1.  Bank Nifty, Realty, Infra, FMCG, Auto indices remained major gainers while IT index closer with minor loss. BHEL, ICICI Bank, BPCL, Kotak, SBI stood out as major gainers among Nifty stocks while NTPC, Infy, Hindalco, Lupin remained losers among Nifty stocks.  ICICI Bank, ITC, HDFC Duo and Reliance were the major contributors for Nifty’s gain.

Among F&O stocks,  Crompton Greaves, Siemens, HPCL, Orient Bank, BHEL     remained  gainers  while Exide, Arvind, IDEA, GSK Consumer, Godrej Industries      remained  major losers. 

 Inputs provided by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

He can be reached @sastry.saaketa@gmail.com

09848014561

 

SENSEX SURGES 388 POINTS

The benchmark Sensex surged 388 points to post the second-biggest gain among Asian stock indices today as crude oil prices fell after Iran agreed to curb its nuclear programme to get relief from sanctions. State-owned refiners, which benefit from cheaper oil, advanced and the BSE Oil & Gas sectoral index rose 1.73 per cent. Capital goods, bank and realty stocks led 12 of the 13 sectoral indices higher. BHEL and ICICI Bank were the biggest of the 27 gainers on the 30-share Sensex, which snapped three days of losses and helped investors gain Rs 1 lakh crore. The S&P BSE Sensex, opened on a strong note and stayed firm through the day. It shot up 387.69 points, or 1.92 per cent to end at 20,605.08 -- close to the day's highs. Benchmark WTI and Brent crude oil prices fell after Iran agreed to limit its nuclear programme to get some relief from sanctions, raising the possibility that curbs on its oil exports would soon be lifted. Lower crude prices would help ease inflation in India, which imports about 80 per cent of its crude oil requirements. The CNX Nifty rose 2 per cent, advancing the most among Asian stock indices, and climbed 119.90 points to 6,115.35. State-owned oil refiners Hindustan Petroleum surged 6 per cent, Bharat Petroleum added 4.45 per cent and Indian Oil advanced 2.52 per cent. State-run explorer ONGC rose 3.7 per cent on prospects that lower oil prices would ease its fuel subsidy burden. The markets may remain volatile over the next few days on alternate bouts of buying and selling due to the expiry of derivative contracts on November 28. Barring China and Hong Kong, Asian stocks closed with gains on the Iran agreement.