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Nifty moved in a very narrow range over the last 8 trading sessions suggesting a “Big move “ in the offing as contraction in volatility leads to expansion. Nifty closed with minor gain amid lackluster movement on the last trading day of the calendar year. However, Nifty, in short term bullishness, would become weak only on a close below 6270 mark.  Nifty spot is expected to encounter resistance at 6345, 6380 and find support at 6265, 6230, for Wednesday. 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 display dual / zigzag movements with alternate bouts of bullishness and bearishness.

Nifty                               6304     +13

Review for Tuesday, 31st December, 2013 ::  Narrow Movement with minor Bullish Bias   ..!!

Market continues to  remain in a very tight trading range with absolutely  narrow movements. 2013 ended with a gain of more than .6.50% for Nifty (up from 5900 to 6300). 34 of Nifty stocks ended in the green and broader market too was marginally positive with Advance Decline ratio at 1.25 :1. Energy, Infra, Media, Realty indices gained while Metal index remained subdued. BHEL, Maruti, Jindal Steel, M&M and Tata Steel closed in the red while IDFC, JP Associates, Tata Power, Ultra Cement, HCL Tech remained major gainers among Nifty stocks.

Among F&O stocks,  IDEA, Adani Enterprises, Adani Power, HDIL, Zee         remained  major losers with additional Open Interest indicating fresh short positions   while REC, PFC, Century Textiles, Dish TV remained gainers with additional Open Interest indicating fresh long positions.

Inputs provided by
Dr.Bhuvanagiri Amaranatha Sastry
Astro Technical Analyst
Saketha Consultants, Hyderabad
He can be reached


The Sensex today inched up by nearly 28 points to end at 21,170.68 in the last trading session of the year, which saw the benchmark notching up its second annual rise in a row. Selective buying amid a firming global trend helped the BSE bluechip index end 2013 with nearly 9 per cent gain during a year where investor confidence recovered. In 2012, the Sensex had jumped nearly 26 per cent. After a better start today, the 30-share closed higher by 27.67 points, or 0.13 per cent, at 21,170.68 led by stocks of power, refinery and healthcare sectors. RIL, TCS and L&T helped lift Sensex. Tata Power and Wipro were among the biggest gainers in 17 constituents that rose. Across market, investors were richer by over Rs 1 lakh crore with market capitalisation ending at Rs 70.4 lakh crore. The broad-based National Stock Exchange index Nifty rose by 12.90 points, or 0.21 per cent, to end at 6,304, after touching the day's high of 6,317.30. For the full year, Nifty gained 6.75 per cent. Also, SX40 index of MCX Stock Exchange ended 29.99 points higher at 12,582.69. Brokers said while trading was lacklustre, the market remained in positive terrain as investors picked fundamentally strong stocks. Sentiment improved further on a firming trend in the Asian region and higher opening in Europe before American consumer confidence and housing data, they added. Sectorally, the BSE Power sector index gained the most by 0.60 per cent, followed by Oil & Gas index (0.52 per cent), Healthcare index (0.21 per cent) and Capital Goods index ( 0.21 per cent). 


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