Inputs by
Dr.Bhuvanagiri Amaranatha Sastry
Astro Technical Analyst
Saketha Consultants, Hyderabad
Nifty closed at highest point for the April Derivative series and the series netted a gain of more than 3%. Stop loss for Nifty long positions may be raised to 6775. With all important May Derivative series set to commence on a bullish note, further rise can be expected before the outcome of election results.   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 with better opening and closing session and subdued midsession.

Nifty                               6841  +26

Review for Wednesday ::  Bullish Bias…  !!!

Market traded in a narrow range with bullish bias and closed with a gain of about 0.40% for the day and April Derivative series closed with a gain of more than 3%. 26 of Nifty stocks closed in the green  and broader market  too was steady with Advance Decline ratio at about 1:1. PSU Bank, Media, Infra, Metal  indices gained while Realty, Energy and IT indices declined. HDFC Bank, ITc, L&T,  contributed more than 15 points to Nifty’s gain while Cairn, Tata Motors and TCS  dragged down by more than 5 points..

Bank of Baroda, Kotak Bank, L&T, PNB, Ambuja Cement      stood out as major gainers among Nifty stocks while Cairn, DLF, IDFC, BPCL, Ultra tech   remained  losers.

Shriram Transport, Bata India, Bank of Baroda, Dish TV   remained major  gainers  among F&O stocks while Biocon, India Cement, Divis Lab, Cairn, IRB, IDEA  declined among F&O stocks.

 Market is closed on Thrusday on account of polling in Mumbai. 


The BSE benchmark index Sensex today rose by 118 points to record closing high of 22,876.54 points on buying by funds mainly in capital goods and banking stocks amid monthly expiry in derivatives.
Similarly, the broader Nifty of the National Stock Exchange too gained 25.45 points, or 0.37 per cent to settle at record 6,840.80 after touching all time intra-day high of 6,861.60 points.
Buying activity further gathered momentum as investors covered their pending short postions on monthly settlement in the derivatives segment, brokers said.
Market remained in a record setting spree on sustained capital inflows, they added.
The 30-share Sensex touched record intra-day high of 22,912.52 points on rise in Larsen & Toubro, HDFC Bank and ICICI Bank.
Later, it pared some of the gains to settle at 22,876.54, up by 118.17 points, or 0.52 per cent.
"Nifty is showing continued strength on the upsides and is able to hold well above 6800 level for last three trading sessions. Technically, markets are showing optimism and buying is likely to continue in coming sessions," Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio Ltd, said.
In 30-BSE index components, 18 stocks gained and 10 declined, while Hindalco and Bajaj Auto held unchanged.
Larsen & Toubro was the biggest gainer among Sensex scrips rising by 2.48 per cent after positive recommendations by brokerages.
HDFC Bank, which posted strong Q4 results, ICICI Bank, ITC and GAIL rose up to 1.48 per cent. BHEL, Axis Bank, Tata Steel and Mahindra & Mahindra were also among major gainers.
On the other hand, IT major Wipro fell for the third session posting losses of 1.19 per cent on lower than expected revenue guidance. NTPC and Tata Motors too fell up to 1.49 per cent.
The capital goods sector index gained the most by rising 1.49 per cent to 12,761.14 followed by banking index by 1.12 per cent to 15,012.05. Healthcare index rose by 0.44 per cent to 10,571.61 and FMCG index by 0.41 per cent to 6,978.05. 


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