NIFTY OUTLOOK FOR 4th &REVIEW

SECOND HALF BETTER

Inputs by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

sastry.saaketa@gmail.com

09848014561

Week started off on a negative note with Nifty losing more than 0.75%. However short term trend continues to be bullish as long as it maintains above 6200. Nifty spot is expected to encounter resistance at 6260, 6295 and find support at 6185, 6150, 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 recover in general in Second half of the day.

Nifty                               6221   -56

Review for Monday  ::  General Bearishness . .... !!

Market opened lower and after trading steady for most part of forenoon, encountered selling pressure and closed with a loss of more than  0.85%. 40 of Nifty stocks closed in the red and broader market too was negative with Advance Decline ratio at 1:1.5. Barring Energy, all other indices closed in the red led by Pharma, IT, Auto, Bank and Infra indices declined.

Jindal Steel, NMDC, IDFC, Cairn and IT stood out as major gainers among Nifty stocks  HCL Tech, JP Associates, Sun Pharma, BHEL, Dr Reddy and M&M  remained losers.

Adani Enterprises, Federal Bank, Titan, Adani Power, HPCL  remained major gainers among F&O stocks while JP Power, HCL Tech, Unitech, JP Associates, JSW Energy, Aditya Birla remained losers among F&O stocks.

RUSSIA FEAR PULLS DOWN MARKET

Indian benchmark indices today fell for the first time in six days on rising concerns over weak domestic economic growth and a global market meltdown on fears of an imminent war between Russia and Ukraine. After rising over 583 points in previous five sessions, the Sensex slipped about 173 points lower and ended below the 21,000 mark at 20,946.65, down 0.82 per cent. Healthcare, IT, Power and Auto shares were the worst hit among 10 sectors that ended in the red out of 12 on BSE. TCS, ICICI Bank and Sun Pharma led 25 scrips in 30-share Sensex down. Dr Reddys and Bhel were the biggest laggards. The NSE 50-issue CNX Nifty also dropped by 55.50 points, or 0.88 per cent, to close at 6,221.45. In previous five days, the index had risen 185.50 points. The tensions in equity market spilled over to the rupee which slipped past 62-mark versus the US dollar in late trade. Pro-Russian troops today took over a ferry terminal on the easternmost tip of Crimea close to Russia. Ukrainian PM Arseniy Yatsenyuk said there was no reason for Russia to invade Ukraine and warned "we are on the brink of disaster." The Russian military mobilisation into Crimea has once again brought the spotlight to deepening risks in Ukraine, "reinvigorating debate over how escalating geopolitical conflict" may impact broader market risk sentiment, said Kevin Gaynor, analyst, Nomura in a client note. Global stocks tumbled as tension over Russia's military advance into Ukraine and possible sanctions by Western governments intensified. Oil surged above USD 104 per barrel on concern Russian supplies could get disrupted. Gold was up 2 per cent overseas on safe haven buying, said analysts. Besides Russia-Ukraine war talk, local brokers said, profit-booking by speculators after recent gains and subdued economic growth data for December quarter hit trading. Country's economy grew below expectations at 4.7 per cent in October-December, making it a tough task to achieve 4.9 per cent GDP expansion in 2013-14. Auto shares fell on weak February sales. In the broader market, Astrazeneca Pharma shares surged 20 per cent on voluntary delisting proposal.