NIFTY OUTLOOK FOR 4th DECEMBER & REVIEW OF 3rd

SECOND HALF BETTER

Nifty snapped Three day winning streak and appeared cautious ahead of big even of State Election results / exit poll results. Stop loss for Nifty long positions may be continued at 6100 on close basis.  Nifty spot is expected to encounter resistance at 6240, 6275 and find support at 6165, 6130 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 be generally better in the  afternoon session.

Nifty                               6202       -16

Review for Tuesday, 03rd December, 2013 :: Mixed Trend with minor Bearish Bias ..!!

Market traded in a narrow range with minor bearish bias  and closed with a minor loss  of about 0.25%. Sectoral trend was mixed as Realty, Media, Metal, Energy and IT indices gained while FMCG, Bank, Infra, Auto and Pharma indices declined. 28 of Nifty stocks ended in the red and broader market was steady with Advance Decline at about 1:1. GAIL, BHEL, DLF, Jindal Steel and NMDC   remained  major gainers among Nifty stocks while Indusind Bank, Kotak Bank, Dr Reddy, HCL Tech and L&T  remained losers among Nifty stocks. 

Among F&O stocks,  Mc Leod Russel, Unitech, Sun TV, Dish TV and CESC     remained  major gainers  while Apollo Tyres, Bank of India, IRB, PTC, Mc Dowell, UCO Bank      remained  losers.

Inputs provided by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

He can be reached @sastry.saaketa@gmail.com

09848014561

SENSEX SNAPS 3 DAY WINNING SPREE

The benchmark Sensex fell for the first time in four days to close 43 points lower after a volatile session today as positive cues from current account figures were countered by weak global markets and profit booking. ITC and Larsen & Toubro shares dragged the index lower as Reliance Industries and GAIL India propped it up. Sesa Sterlite, Dr Reddy's Laboratories and NTPC were among the 19 Sensex shares that declined. FMCG, consumer durables and bank shares led seven of the 13 BSE sectoral indices down. 

The S&P BSE Sensex resumed lower than yesterday's close and hovered in a range of 20,817.75 to 20,927.05. It ended at 20,854.92, a loss of 43.09 points or 0.21 per cent. Over the previous three sessions, the index had added 477.75 points, or 2.34 per cent, to an almost one-month high.  The 50-share CNX Nifty on the National Stock Exchange slipped 16 points, or 0.26 per cent, to end at 6,201.85. The SX40 index on the MCX Stock Exchange ended at 12,371.94, down 3.82 points. Asian stock markets ended mostly lower after stronger US manufacturing data revived speculation the Federal Reserve may pare its stimulus programme sooner than anticipated. Key indices in Hong Kong, Singapore, South Korea and Taiwan dropped, while those in China and Japan moved up.