NIFTY OUTLOOK FOR 28th & REVIEW

SECOND HALF SUBDUED

May Derivative series started off on a negative with a fall of about 1%.  With this fall, Nifty turns negative and One more negative close would take away the short term bullishness. 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 be generally better in forenoon and could witness selling pressure in Second half of the day.

Nifty                               6783  -58

Review for Friday

Inputs by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

sastry.saaketa@gmail.com

09848014561

http://www.saaketa.com/AstroTechnicals.aspx

::  Selling at Higher Levelss…  !!!

Market witnessed huge selling pressure from midsession and could not recover meaningfully  thereafter. 33 of Nifty stocks closed in the red   and broader market  too was negative  with Advance Decline ratio at about 1:1.8. PSU Bank, Media, Pharma  indices gained while Bank Nifty, FMCG, Energy and Infra indices declined. HDFC, M&M  contributed more than 12 points to Nifty’s gain while ITC, ICICI Bank and Reliance  dragged down by more than 35 points..

M&M, Tech Mahindra, Dr Reddy, Axis Bank,       stood out as major gainers among Nifty stocks while Cairn, Ambuja Cement, BPCL, Ultratech Cement   remained major losers.

 

UPL, IB Realestate, KTK Bank, Yes Bank   remained major  gainers  among F&O stocks while MRF, Cairn, Crompton Greaves, Ambuja Cement, Exide Industries  declined among F&O stocks.