ZIGZAG MID SESSION...
Nifty closed with a loss of about 1%, trimming weekly gains
to under 1.50%. Nifty was once again unable to pierce the resistance level of
6325. Nifty spot is expected to
encounter resistance at 6300, 6335 and find support at 6220, 6185, for Monday.
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 remain subdued after the opening
session and experience zigzag movements thereafter.
Nifty
Review for Friday, 17th
January, 2014 :: All Sectoral Indices
end Weak ..!!
Weekly gains were trimmed as market experienced correction
for the first time during the week. All sectoral indices closed in the red led
by Realty, IT, Bank, Metal, Infra and Media. 32 of Nifty stocks closed in the red
and broader broader market too was quite
negative with Advance Decline ratio at
1:2.5. Cipla, Bajaj Auto, Hind Unilever, M&M, and Ambuja Cement remained major gainers among Nifty stocks
while Coal India, TCS, DLF, Wipro and ICICI Bank remained losers among Nifty stocks.
Coal India fell because the scrip had become Ex dividend
(special dividend) and Oil Marketing Companies remained major gainers.
Among F&O stocks, IOC, HPCL, BPCL, RCom, and Cipla gained with higher Open Interest indicating
fresh long positions while Coal India, Hexaware, PTC, TCS, Arvind, TechMahindra declined with higher Open Interest
suggesting fresh short positions.
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