NIFTY OUTLOOK FOR 14th & REVIEW

MID SESSION SUBDUED

Nifty closed with a gain of more than 1.50% and closed above 6250, thus signaling short term bullishness, which needs to be confirmed with another positive close. However, there is strong resistance around 6325 too. Nifty spot is expected to encounter resistance at 6310, 6345 and find support at 6235, 6200, for Tuesday. While Global cues, Q3 results,  and  Funds flow  are expected to broadly guide the market movement, based on the present market position , market can be expected to be subdued in midsession and could again recover towards close.

Nifty                               6273     +102

Review for Monday, 13th January, 2014 ::  IT and Bank stocks help Nifty score a Century ..!!

Market gained smartly , for the first time  in the new year, aided by Technology and Bank stocks. IT, Bank, Energy, Auto and Realty indices gained while Pharma and Metal indices declined. 37 of Nifty stocks gained while broader market was not indicative of the Nifty as Declines outnumbered Advances (1:1.05). HCL Tech, ICICI Bank, Kotak Bank, DLF and L&T remained major gainers among Nifty stocks while Ranbaxy, Lupin, Tata Power, Sun Pharma, Jindal Steel, Hind Unilever remained major losers.

Week started off on a highly positive note shrugging off the narrow and lackluster sessions of the recent past. .   Exide remained one of the major losers following disappointing results due to the burden of unrelated diversification.

Among F&O stocks,  Apollo Tyre, Bharat Forge, TCS, HCL Tech, Infy   gained with higher Open Interest indicating fresh long positions while Exide, Ranbaxy, JP Power, Jubilant Food, Crompton Greaves  declined with higher Open Interest suggesting fresh short positions.

Inputs provided by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

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

09848014561

SENSEX RECORDS BIGGEST GAIN IN 7 WEEKS
The benchmark Sensex surged 376 points today, clocking its biggest gain in seven weeks, ahead of retail inflation figures and on expectations the US Federal Reserve would ease tapering after disappointing jobs data. Investors also expect the RBI to keep interest rates unchanged in a bid to support growth after the Index of Industrial Production contracted 2.1 per cent in November. There were hopes of inflation easing amid increased availability of winter crops. There was buying across the board as 11 out of the 12 BSE sectoral indices advanced, led by IT, Teck, Oil & Gas, Banking and Capital Goods stocks. Only the Healthcare index fell. Heavyweights Infosys, TCS, Reliance Industries and ICICI Bank contributed the most to the gains in the Sensex. The 30-share S&P BSE Sensex opened higher and stayed in positive terrain through the day. It ended at 21,134.21, a rise of 375.72 points or 1.81 per cent. It was the biggest gain since November 25, when the index added 387.69 points. The Fed said it would reduce its bond-buying programme, which has been a source of liquidity for most Asian and emerging markets, from this month. US employment rose at the slowest pace in three years in December, according to a government report. "Markets rose sharply on Monday, likely buoyed by the weak payroll data in US, which re-ignited optimism on the Fed taper programme. Expectations on the CPI inflation data which is due post-market hours, also kept the markets up," said Dipen Shah, Head - Private Client Group Research at Kotak Securities. The 50-share CNX Nifty on the National Stock Exchange shot up 101.30 points, or 1.64 per cent, to 6,272.75. "The markets seem to be anticipating a healthy inflation figure, since that would reinforce that the RBI's decision to not raise the headline repo rate last month was the correct decision," said Raghu Kumar, Cofounder of RKSV.