NIFTY OUTLOOK FOR 23rd & REVIEW

SCRIP SPECIFIC MOVEMENT...

Inputs by
Dr.Bhuvanagiri Amaranatha Sastry
Astro Technical Analyst
Saketha Consultants, Hyderabad
sastry.saaketa@gmail.com
09848014561
Nifty closed flat amid narrow movement and it closed above 6800 mark for the Second day.. With a close above 6800, bullishness is reinforced and any fall may be utilized to buy with 6750 as stop loss(on close basis).  While Global cues, Quarterly results   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 amid scrip specific movements in view of the last day of Derivative Expiry.

Nifty                               6815  -3

Review for Tuesday ::  Narrow Movement…  !!!

Market traded in a narrow range and closed flat for the day. 30 of Nifty stocks closed in the red  and broader market  too was marginally negative with  with Advance Decline ratio at 1:1.05. Energy, Infra, Pharma, Auto indices gained while Media, PSU Bank, Metal, IT indices declined. HDFC Bank, L&T, Reliance  contributed more than 15 points to Nifty’s gain while ITC, Infy, SBI  dragged down by about 15 points..
 
BPCL, Lupin, GAIL, HDFC Bank, L&T      stood out as major gainers among Nifty stocks while SSLT, Wipro, PNB, Jindal Steel,   remained  losers.

 
Unitech, BPCL, M&M Finance, IOC,   remained major  gainers  among F&O stocks while MRF, Apollo Tyres, SSLT, Union Bank  declined among F&O stocks.

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