OUTLOOK FOR 7th & REVIEW

FORENOON BETTER

Inputs by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

sastry.saaketa@gmail.com

09848014561

Nifty continued to correct for the Second day and closed below 6700 mark. Stop loss for Nifty long positions may be maintained at  6675.    Nifty spot is expected to encounter resistance at 6735, 6770 and find support at 6655, 6630, for Monday. 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 better forenoon and subdued Second half. 

Nifty                               6694  -36

Review for Friday (04th April, 2014) ::  Bearish Undertone…  !!!

While index had  fallen by more than 0.50%, broader market was positive with higher Advances than Declines. 36 of Nifty stocks ended in the red but  broader market  was positive   with  Advance Decline ratio placed at 1.6:1. Realty, Metal, PSU Bank and Pharma  indices gained while Auto, Infra, IT, Energy, Media and FMCG indices declined. HDFC, Reliance, TCS  dragged Nifty down by more than 10 points. 

 

DLF, Cipla, PNB. Indusind Bank, Tata Steel    stood out as major gainers among Nifty stocks while BHEL, NTPC, Power Grid,HCL Tech and MC Dowell  remained major losers.

 

HDIL, Ranbaxy, Unitech, IB Realestate, IRB  remained major gainers among F&O stocks while India Cement, Just Dial, Siemens, Bata India   remained major losers among F&O stocks.