SECOND HALF 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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Despite unexpected rate hike from RBI, Nifty closed with
minor loss only for the day and did not decisively close below the lower end of
the last Seven week’s range. However, semblance of stability would return only
on a close above 6200 mark. FOMC decision on stimulus tapering would be the
next big event to drive the markets. Nifty spot is expected to encounter
resistance at 6165, 6200 and find support at 6085, 6050, for Wednesday. 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 recover slowly in Second half of
the market.
Nifty
Review for Tuesday, 28th
January, 2014 :: RBI raises Rates.. ....
!!
Contrary to market expectation, RBI hiked rates by 0.25%
keeping in view the inflation. Market fell sharply at the time of announcement
but recovered slowly to close with minor loss. In view of global cues. Market had
already fallen sharply in the previous Two days leaving little scope for
further fall. 30 of Nifty stocks gained and broader market too was positive
with Advance Decline ratio at 1.05 : 1.,Metal, Realty, FMCG, Media indices
gained while Pharma, IT and Bank indices declined.. Tata Steel, Ranbaxy, SSLT,
Hindalco, JP Associates remained major gainers among Nifty stocks while Maruti,
Axis Bank, Lupin, Sun Pharma, Cipla remained major losers among Nifty stocks.
.
Maruti fell sharply
reacting adversely to the news about the arrangement for new plant at Gujarat
and the results
Among F&O stocks HDIL, Apollo Tyres, FRL, Glenmark, Tata
Steel gained while MAruti, IRB,
IDEA, UPL, Axis Bank suffered major losses.
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