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NIFTY OUTLOOK FOR 9th & REVIEW

CAUTION AT HIGHER LEVELS

Inputs by
Dr.Bhuvanagiri Amaranatha Sastry
Astro Technical Analyst
Saketha Consultants, Hyderabad
sastry.saaketa@gmail.com
09848014561
Though Nifty appeared to lose considerably for most part of the day, it gained towards close to close flat for the day. Stop loss for Nifty long positions may be trailed to 6650.    Nifty spot is expected to encounter resistance at 6735, 6770 and find support at 6655, 6630, for Wednesday. While Global cues  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 subdued midsession. Caution is advised at higher levels.
Nifty                               6695  +1

Review for Monday, 07th April, 2014 ::  Flat Close…  !!!

Market closed flat amid zigzag movements with bearish undertone for most part of the day and recovered towards close.. 26 of Nifty stocks ended in the red but  broader market  was positive   with  Advance Decline ratio placed at 1.3:1. Infra, Metal, Auto  indices gained while Realty, Media, Bank, Pharma and Energy  indices declined. Sun Pharma, TCS and HDFC contributed about 10 points to Nifty’s gain while  ICICI and Infy  dragged Nifty down by more than 10 points. 
 
Ultra Cement, Ambuja Cement, Sun Pharma, NMDC    stood out as major gainers among Nifty stocks while Jindal Steel, BHEL, DLF, IDFC and Cipla  remained major losers.

Market is closed on Tuesday on account of Sri Rama NAvami.
 
JP Associates, GMR Infra, IDEA, RCom, Ultra Cement  remained major gainers among F&O stocks while Jindal Steel, Just Dial, Ranbaxy, L&T Finance, BHEL   remained major losers among F&O stocks.

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