MID SESSION BETTER
The week started off on a positive note with Nifty scaling a
new all time high after nearly Six years and closed above 6350 mark. Stop loss for Nifty long positions may be trailed
to 6230 on close basis. Nifty spot is expected to encounter
resistance at 6405, 6440 and find support at 6325, 6290, for Tuesday. While
Global cues and Funds flow are expected to broadly guide the market
movement, based on the present market position, market can be expected to remain subdued after
opening session and recover thereafter.
Nifty
Review for Monday, 09th
December, 2013 :: Indices at New All Time High with Saffron Push to Market …But
Divergence between Index Stocks and Broader market ..!!
As State Assembly election results were in tune with exit
poll forecast and on account of global cues, Market opened with a huge upside
gap but came off from highs and traded in a narrow range and closed with a gain
of about 1.50%. While 41 of Nifty stocks ended in the green, broader market was
marginally negative with Advance Decline ratio at 1:1.1. However, all sectoral
indices closed in the green led by Bank Nifty, Realty, Infra, Media, Energy
etc., DLF, SSLT, ACC, Ambuja Cement, ICICI Bank stood out as major gainers
among Nifty stocks while Jindal Steel, Cipla, Lupin and Tata Steel closed in
the red.
Among F&O stocks Orient Bank,, India Cement, DLF, Exide
Industries, ACC and SSLt remained
major gainers while Jindal Steel,
Arvind, Divis Lab, Godrej Industries, Bata remained
losers.
Inputs provided by
Dr.Bhuvanagiri Amaranatha Sastry
Astro Technical Analyst
Saketha Consultants, Hyderabad
He can be reached @sastry.saaketa@gmail.com
09848014561 
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