ZIGZAG MOVEMENTS...
Market has been falling for the last Four days after the
euphoric start on Monday and enters short term bearishness . However, any positive
surprises next week can help the market
recover, which presently appear remote. Sell on Rise policy may be followed by
traders with a stop loss of 6275 on close basis. Nifty spot is expected to
encounter resistance at 6205, 6240 and find support at 6130, 6095, for Monday.
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 and any reasonable rise
may be utilized to Sell.
Nifty
Review for Friday, 13th
December, 2013 :: Bearishness Continues
..!!
Markets fell for the Fourth day in succession and closed
with a loss of more than 1% and the week closed with a loss of about 1.50%
despite very strong and euphoric opening on Monday. Bears dominated the market
through out the day because of low IIP
and higher CPI numbers and weak global cues. All sectoral indices closed in the
red led by Bank, Realty, Infra and Energy. 42 of Nifty stocks closed in the red
and broader market too is negative with Advance Decline ratio placed at
about 1:3. Tata Motors, Wipro, M&M,
Coal India, Tata Steel, closed in the green among Nifty stocks while JP
Associates, BHEL, ICICI Bank, Ultra Cement and Indusind Bank remained major losers among Nifty stocks.
Next week’s RBI Policy, which is expected to raise rates due
unfavouable macro fundamentals and Fed policy are crucial for the next week’s
movement. Market is already nervous in view of the above.
Among F&O stocks, Aurobindo Pharma, Tata Motors, Wipro, Hexaware
and Coal India remained major gainers
while JP Associates, IB Realestatre, Canara Bank, Allahabad Bank, Godrej
Industries remained losers.
Inputs provided by
Dr.Bhuvanagiri Amaranatha Sastry
Astro Technical Analyst
Saketha Consultants, Hyderabad
He can be reached @sastry.saaketa@gmail.com
09848014561
No comments:
Post a Comment