NIFTY OUTLOOK FOR 26th & REVIEW

SCRIP SPECIFIC MOVEMENTS...

CAUTION @ HIGHER LEVELS

Inputs by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

sastry.saaketa@gmail.com

09848014561

Nifty continues its gains and closed at 6200 mark. Thursday, being derivative expiry day, scrip specific movements can be expected. . Nifty spot is expected to encounter resistance at 6240, 6275 and find support at 6160, 6125, for Wednesday. While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position , market can be expected to witness volatile movements and caution is advised at higher levels in view of the decent run up recently. Being last day of derivative expiry, scrip specific movements can be expected.

Nifty                               6200   +14

Review for Tuesday  :  Zigzag Movement with Bullis Bias. .... !!

Market traded in a zigzag fashion with bullish bias and Nifty closed at 6200 mark with a gain of 0.25%. 25 of Nifty stocks gained and broader market was marginally bearish with Declines outnumbering
Advances. IT, Media, Auto and FMCG indices gained while Metal, Energy, Bank and Infra indices declined.

Wipro, Bajaj Auto, Ambuja Cement, BPCL, BHEL remained major gainers among Nifty stocks while NMDC, SSLT, Tata Steel, Coal India, JP Associates remained losers among Nifty stocks. Aurobindo Pharma came out of ban period in F&O segments and surged more than 6%.

Among F&O stocks Aurobindo, KTK Bank, UPL, Wipro, Titan , remained major gainers  while JP Power, SAIL, Adani Ports, IRB, NMDC declined .

SENSEX AGAIN @ I MONTH HIGH

The BSE benchmark Sensex gained 41 points today to settle at a fresh one-month high of 20,852.47 on buying in IT, capital goods and FMCG stocks, extending the winning streak to the third day.
IT major Wipro was the biggest Sensex gainer at 2.95 per cent, followed by Bajaj Auto at 2.14 per cent. IT stocks were in demand with Infosys trading near its all-time high level of Rs 3,782 apiece, traders said. Markets may remain volatile in the coming few days ahead of Futures and Options expiry on Thursday, they said.
After resuming higher, the Sensex touched day's high of 20,912.54 but settled at 20,852.47, a rise of 41.03 points from its last close. It has gained 315.83 points or 1.54 per cent in the last three trading days.
The 50-share Nifty on NSE also firmed up by 13.95 points or 0.23 per cent to finish at 6,200.05. BHEL at 1.92 per cent, Cipla 1.90 at per cent, Bharti Airtel at 1.57 per cent Hindalco Industries and 1.39 per cent were some other big Sensex gainers. Among the sectoral indices, consumer durables was the top gainer, up by 2.98 per cent, followed by IT and Technology, up by more than 0.80 per cent each. Auto and capital goods were up by over half a perc ent each. Metal was the top loser, down by 1.85 per cent. Jignesh Chaudhary, Head of Research, Veracity Broking Services, said it was a mixed day of trading which started on a positive note, but slipped to to the negative terrain. It recovered from day's low to close on a positive note towards the end of the trading session. "There was selling pressure ahead of the expiry which created some stress," he added.