FORENOON SUBDUED
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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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Nifty has been trading in a narrow range testing the
patience of market participants and closed nearly flat but market breadth was
positive. Unless Nifty closes below 6475, deeper correction can not be
expected. Nifty spot is expected to
encounter resistance at 6535, 6570 and find support at 6450, 6415, for Monday.
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 encounter zigzag movements with subdued forenoon session and
volatile movements towards close.
Saturday’s session is usually lackluster, barring adjustment of opening level to the global markets.
Nifty
Review for Friday :: Narrow Movement… !!!
One more narrow movement day and indices close with minor
gain. 32 of Nifty stocks closed in the green and broader market too was
positive with Advance Decline ratio at 1.4:1. Realty, Media, Metal, Bank, Auto,
IT and FMCG indices gained while Energy and Pharma indices declined.
Hindalco, Tata Steel, JP Associates, Bank of
Baroda, Wipro stood out as major gainers among Nifty stocks while ONGC, NMDC, Reliance, Hero Motors, IDFC and NTPC remained major losers.
Baroda, Wipro stood out as major gainers among Nifty stocks while ONGC, NMDC, Reliance, Hero Motors, IDFC and NTPC remained major losers.
Metal stocks staged a
smart pullback.
HDIL,, Apollo Tyres, MRF, Ashok Leyland, JSW Steel, remained major gainers among F&O stocks
while HPCL, IDEA, M&M Finance, IOC, NMDC
remained losers among F&O stocks.
Live Trading Session is conducted by NSE and BSE for 90
minutes on Saturday.
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