NIFTY OUTLOOK FOR 29th & REVIEW

CLOSING HOUR CRUCIAL

Inputs by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

sastry.saaketa@gmail.com

09848014561

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

Nifty for the Second day in succession. While short term trend for Nifty turns negative, close below 6750 would reinforce bearishness. 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 closing hour is crucial for the day.

Nifty                               6761  -22

Review for Monday :: Bearish Bias…  !!!

Market traded in a narrow range with bearish bias . 31 of Nifty stocks closed in the red   and broader market  too was negative  with Advance Decline ratio at about 1:1.2. PSU Bank,  Pharma, Realty  indices gained while Auto, Infra, Metal, FMCG, Energy and Infra indices declined. Sun Pharma, SBI, Cipla  contributed more than 7 points to Nifty’s gain while HDFC, L&T, Tata Motors dragged down by more than 13 points..

Cipla, Sun Pharma, Wipro, Dr Reddy       stood out as major gainers among Nifty stocks while Ambuja Cement, Asian Paints, BHEL, GAIL   remained major losers.

 

UPL, Jain Irrigation, IFCI, JP Power, Tata Chem   remained major  gainers  among F&O stocks while Ambuja Cement, Just Dial, Shriram Transport, Adani Ports  declined among F&O stocks.