Skip to main content

NIFTY OUTLOOK FOR 29th NOVEMBER

SECOND HALF SUBDUED

Nifty closed with a gain of more than 0.50%. It continues to remain neutral  range between short term support and resistance. 6025 can be considered strong short term support and 6175 can be considered resistance.  Nifty spot is expected to encounter resistance at 6135, 6170 and find support at 6055, 6020 for Friday. While Global cues and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market is expected to be generally better in the forenoon and might face selling pressure in Second half of the day.
 Nifty                               6092        +35

Review for Thursday, 28th November, 2013 :: Generally Better  ..!!

Market opened better and traded in a narrow range and closed with a gain of  more than 0.50% but November Derivative series ended up with a loss of about 3%. All sectoral indices closed in the green and notable gainers include Infra, Media, Realty, Metal, Energy etc., 46 of Nifty stocks gained and broader market too was positive with Advance Decline ratio placed at 1.6 :1JP Associates, BHEL, Grasim, Power Grid  remained  major gainers among Nifty stocks while Cairn, Cipla, Tata Motors, NMDC  remained losers among Nifty stocks. 

Among F&O stocks,  Voltas, Dish TV, Adani Enterprises, JP Associates     remained  gainers  while Grasim, Hind Zinc, Federal Bank, Tata Motors DVR      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
 

Comments

Popular posts from this blog

JIO TARIFF CICK FOR TELECOM STOCKS

Telecom stocks today surged up to 8 per cent after the recent increase in Reliance Jio tariffs, which is largely seen as positive for the sector. Shares of Bharti Airtel jumped 4.99 per cent to close at Rs 497.50 on BSE. Bharti Airtel was the biggest gainer among the 30-share index components. The scrip of Idea Cellular soared 7.74 per cent to end at Rs 98.15 and Reliance Communications zoomed 7.60 per cent to Rs 17.70. Reliance Jio made its service dearer by about 15 per cent for its popular 84-day plan at Rs 459 from October 19, under which subscribers get 1GB 4G data at high speed per day. The company restructured its various schemes by reducing their validity period. The recent increase in Reliance Jio tariffs will increase its average revenue per user by up to 20 per cent and is a positive for the telecom sector, which is seeing a rapid consolidation, says a Philip Capital report. Established telecom sector players have seen huge reduction in their margins. Idea Cellular and Reli…

STOCK MARKET WELCOME NEW YEAR WITH LOSS

Sensex drops 244 pts
A late sell-off in auto, banking and IT shares pulled back the benchmark BSE Sensex from record high level to close down by 244 points, its biggest single loss in past one month, on the first trading day of 2018. Investors preferred to book profits at record highs amid concerns over fiscal slippages and rising crude oil prices and absence of cues from global markets which were closed for the New Year holiday. The benchmark Sensex touched a low of 33,766.15 before settling lower by 244.08 points, or 0.72 per cent, at 33,812.75. This is the biggest single-day fall since December 1 when the index had lost 316.41. The 30-share index had closed at an all-time high of 34,056.83 in the last session of 2017 on Friday. Also, the 50-share Nifty cracked below the 10,500-mark to hit a low of 10,423.10 before settling 95.15 points, or 0.90 per cent down at 10,435.55. Stocks opened on a weak note and remained range-bound for the better part of the day but an intense sell-off in…

NIFTY EARNINGS FLAT IN 2018

UBS Cautious Note

Projecting zero returns from the Nifty, Swiss brokerage UBS has projected a 10 per cent cut in its index target at 10,500 for calendar 2018, even as it remains positive over the long-term. "Top-down, we forecast Nifty earnings growth will recover from 9 per cent in fiscal 2018 to 13 per cent in 2019, but driven largely by financials," the brokerage said in a report. "However, earnings growth is likely to disappoint against consensus forecast of 22 per cent growth for fiscal 2019, implying a 10 per cent cut," it added. Accordingly, the brokerage estimates "no returns from the Nifty in 2018" and has set the index target at 10,500 for this December. The report noted that a sharp earnings recovery, with continued robust macro stability appears priced in by the markets. "A sharp earnings recovery appears priced in. The markets are already close to our 2018 target, given optimistic fiscal 2019 consensus earnings expectations, which build …