FORENOON BETTER
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Inputs by
Dr.Bhuvanagiri Amaranatha Sastry
Astro Technical Analyst
Saketha Consultants, Hyderabad
sastry.saaketa@gmail.com
09848014561
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Week started off on a positive with Nifty closing above 6300 mark and once again close to strong resistance zone of 6325 – 6350. Nifty spot is expected to encounter resistance at 6340, 6375 and find support at 6265, 6230, 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 generally better in the forenoon session with profit booking towards close.
Nifty
Review for Monday, 20h January, 2014 :: IT Stocks in limelight ..!!
After subdued opening session, market recovered to close with a gain of about 0.75% for the day. IT, Media, FMCG, Auto and Bank indices gained while Energy and Pharma indices declined. 29 of Nifty stocks gained and broader market too was positive with Advance Decline ratio placed at 1.2 : 1. TCS, Wipro, HCL Tech, Indusind Bank, ITC remained major gainers among Nifty stocks while Reliance, Tata Power, Grasim, Bharti, NMDC remained major losers.
IT stocks remained star performers as TCS, Wipro and HCL:Tech bounced back smartly.
Among F&O stocksAurobindo, RCom, PTC, Hind Zinc and Havells gained with higher Open Interest indicating fresh long positions while M&M Finance, Mc Leo Russel, Reliance, PFC declined with higher Open Interest suggesting fresh short positions.
Country's largest software services exporter TCS surged 5.53 per cent to emerge as the biggest Sensex gainer of the day. Today's gain to a great extent made up for the huge loss of 5.77 per cent it suffered on the previous trading day despite the company posting robust earnings.
Wipro, which on Friday announced a 27 per cent jump in consolidated net profit for the third quarter, rose 3.77 per cent, the second biggest among Sensex scrips. Reliance Industries (RIL) was the top loser at 1.70 per cent despite market beating earnings for the October-December period. The 30-share indicator touched a low of 21,001.13 in early trade. A sudden buying emerged, mainly in IT stocks, lifting the key index to 21,205.05, a gain of 141.43 points. In the previous two sessions, Sensex had lost 225.87 points. The 50-issue NSE Nifty also rose by 42.30 points to end the day at to 6,303.95. Of the 30 Sensex shares, 16 ended higher while 14 finished with losses. Major gainers included Sesa Sterlite at 2.49 per cent, ITC 1.65 per cent, Tata Motors per cent, BHEL 1.26 per cent, SBI 1.17 per cent, M&M 1.00 per cent.
WEEK STARTS ON A POSITIVE NOTE
Snapping the two-day losing streak, the BSE benchmark Sensex today gained over 141 points to settle the day at 21,205.05 on buying support in IT stocks after Wipro announced encouraging third quarter earnings.Country's largest software services exporter TCS surged 5.53 per cent to emerge as the biggest Sensex gainer of the day. Today's gain to a great extent made up for the huge loss of 5.77 per cent it suffered on the previous trading day despite the company posting robust earnings.
Wipro, which on Friday announced a 27 per cent jump in consolidated net profit for the third quarter, rose 3.77 per cent, the second biggest among Sensex scrips. Reliance Industries (RIL) was the top loser at 1.70 per cent despite market beating earnings for the October-December period. The 30-share indicator touched a low of 21,001.13 in early trade. A sudden buying emerged, mainly in IT stocks, lifting the key index to 21,205.05, a gain of 141.43 points. In the previous two sessions, Sensex had lost 225.87 points. The 50-issue NSE Nifty also rose by 42.30 points to end the day at to 6,303.95. Of the 30 Sensex shares, 16 ended higher while 14 finished with losses. Major gainers included Sesa Sterlite at 2.49 per cent, ITC 1.65 per cent, Tata Motors per cent, BHEL 1.26 per cent, SBI 1.17 per cent, M&M 1.00 per cent.
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