NIFTY OUTLOOK FOR 12th & REVIEW

FORENOON SUBDUED

Inputs by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

sastry.saaketa@gmail.com

09848014561

Though Nifty lost for the day, it gained for the week by more than 1%.  Stop loss for Nifty long positions may be maintained at 6700.    Nifty spot is expected to encounter resistance at 6815, 6850 and find support at 6740, 6705, 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 witness zigzag movements with subdued  forenoon session  and  recovery in Second half of the day.

Nifty                               6776  -20

Review for Friday, 11th April, 2014 ::  Marginal Decline despite Negative Global Cues…  !!!

Market opened negative due to global cues but displayed resilience and closed with a nominal decline of about 0.30%. 31 31 of Nifty stocks ended in the red but  broader market  was marginally positive   with  Advance Decline ratio placed at 1.05:1. IT and Pharma   indices gained while Bank, Auto , Energy, Media   indices declined. TCS, Infy and Infy  contributed about 8 points to Nifty’s gain while  Reliance, ICICI Bank, SBI d  dragged Nifty down by more than 15 points. 

 

HCL Tech, Ambuja Cement, Sun Pharma, Tata Communication and TCS     stood out as major gainers among Nifty stocks while Indusind Bank,SBI, M&M, GAIL, Reliance  remained major losers.

  

JP Power, India Cement, OFSS, Century Textiles and UPL gained with higher Open Interest indicatin fresh buying interest among F&O stocks while Adani Enterprises, Indusind Bank, JSW Energy, PFC and Dish TV declined with higher interest suggesting fresh short positions  among F&O stocks.