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Inputs by
Dr.Bhuvanagiri Amaranatha Sastry
Astro Technical Analyst
Saketha Consultants, Hyderabad
Nifty continued its winning streak for 7th day in a row and Nifty closes above 6700 mark. Stop loss for Nifty long positions may be maintained at  6600.    Nifty spot is expected to encounter resistance at 6745, 6780 and find support at 6665, 6630, for Tuesday. 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 be generally better in the midsession and could encounter selling pressure towards close. However, RBI Policy would be the main influencing factor for the market. Caution is advised at higher levels. 

Nifty                               6704  +8

Review for Monday :: Nifty Closes above 6700 mark …Metal Stocks Zoom …  !!!

Market appears to have encountered selling pressure at high levels but found support too at lower levels and finally closed in the positive territory ahead of RBI meet on Tuesday. 30 of Nifty stocks gained and  broader market too  was positive  with  Advance Decline ratio placed at 1.70:1. Metal, Realty, Auto, Media, IT indices gained while Infra, FMCG, Energy indices declined. Reliance, HDFC and Hindalco contributed about 15 points to Nifty’s gain while ITC and ONGC dragged down by more than 15 points.  
Bank Stock appeared nervous (due to profit booking) ahead of RBI meet in view of the huge rise in the recent past.  

 Hindalco, JP Associates, Tata Steel, SSLT, ITC    stood out as major gainers among Nifty stocks while ONGC, IDFC, Dr Reddy, Power Grid, Tech MAhindra remained major losers.
Unitech, SAIL, Hindalco, HDIL, JSW Steel  remained major gainers among F&O stocks while Just Dial, IDFC, ONGC, IOB   remained losers among F&O stocks.


Stock markets ended financial year 2013-14 in a grand fashion with the BSE benchmark Sensex and NSE Nifty moving up to all-time high levels for the sixth day in succession today. The indices, however, fell from their peak intra-day positions on profit-booking. The 30-share BSE Sensex rose to historic high of 22,467.21 points in a day marked by high volatility. The key barometer finally settled at 22,386.27 points-- setting a fresh closing record for the fourth straight day-- 46.30 points or 0.21 per cent higher than its previous close.
The 50-share Nifty recorded its lifetime closing high of 6,704.20, up by 8.30 points from its previous close. It jumped to 6,730.05, all-time intra-trade record high. With foreign fund flows continuing relentlessly, the indices have been setting record life-time high for six days in succession. Brokers attributed the rally to investor hopes of a stable government after elections and signs of economy returning to high growth path. The Sensex has gained 1,266.15 points in March this year, the best monthly gain since October. For the full fiscal, the key index has witnessed a rise of 3,550.50 points, an increase of 18.8 per cent from closing level on March 28 last year.
Expectations that the Reserve Bank of India (RBI) in its annual monetary policy tomorrow will keep the key rates unchanged also buoyed the market sentiment.
Metal stocks were at the forefront of the rally. Brokers said metal stocks attracted buying on hopes that China will take steps to stimulate sagging economy. The communist country is the world's largest consumer of copper and aluminium.
Hindalco zoomed 8.71 per cent to end the day as the best Sensex gainer of the day. Tata Steel was the next best 3.40 per cent, while SSLT gained 2.76 per cent. "Markets seem to be in a bullish mood and very optimistic of the upcoming RBI policy," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio. With the inflation and IIP numbers coming under manageable levels, markets are certainly expecting some positive news from RBI policy revies, he added. 


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