NIFTY OUTLOOK FOR 12th & REVIEW
Dr.Bhuvanagiri Amaranatha Sastry
Astro Technical Analyst
Saketha Consultants, Hyderabad
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.