NIFTY OUTLOOK FOR 27th NOVEMBER & REVIEW OF 26th

FORENOON/MID SESSION BETTER

Nifty lost about 1%  and appears to have corrected for Monday’s huge rise. However, Nifty needs to sustain above 6020 to maintain the momentum and in case it does, it can go upto 6150 in the coming Two sessions. On the other hand, if it goes below 6020, it could slip further and make a new low before expiry.  Nifty spot is expected to encounter resistance at 6100, 6135 and find support at 6020, 5985 for Wednesday. 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 forenoon / midsession and might experience profit booking towards close.

Nifty                               6059        -56

Review for Tuesday, 26th November, 2013 :: Correction for Monday’s Huge Rise  ..!!

Market opened subdued and  generally traded with bearish bias and closed with a loss of about 1% and about 50% of Monday’s rise is evaporated. 37  of Nifty stocks closed in the red  and broader market too was negative  with Advance Decline ratio placed at 1:1.6. Barring Auto index, all other sectoral indices closed in the red led by Media, Bank Nifty, Energy, Realty, FMCG, Metal.  Lupin, BHEL, SSLt, Hind Unilever, Hero Motors  remained  gainers among Nifty stocks while BPCL, Bank of Baroda, NMDC, ICICI Bank, and Cairn  remained major losers among Nifty stocks. 

Among F&O stocks,  UBL, PTC, MRF, Aurobindo, Yes Bank     remained  gainers  while BPCL, Unitech, Adani Enterprises, Canara Bank, HPCL      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 slips 180 points 

The benchmark Sensex slid 180 points today as crude oil prices recovered and investors booked profits in banking, PSU and oil & gas sector stocks. The absence of fresh triggers and cautious sentiment before the expiry of monthly derivative contracts on Thursday and the release of GDP data on Friday also weighed on sentiment, traders said. ICICI Bank, ITC, HDFC and Reliance Industries dragged the Sensex lower. Bharti Airtel and Coal India were among the biggest losers on the index. The 30-share S&P BSE Sensex resumed steady at 20,604.27 and then declined to 20,390.62. It ended at 20,425.02, down 180.06 points or 0.87 per cent. The CNX Nifty on the National Stock Exchange fell 56.25 points, or 0.92 per cent, to end at 6,059.10.