NIFTY OUTLOOK FOR 29th & REVIEW
CLOSING HOUR CRUCIAL
Dr.Bhuvanagiri Amaranatha Sastry
Astro Technical Analyst
Saketha Consultants, Hyderabad
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.