OUTLOOK OF NIFTY FOR 22nd & REVIEW

GENERALLY BETTER...

Inputs by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

sastry.saaketa@gmail.com

09848014561

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

Nifty continued its uptrend for the Second day and closed above 6800 for the first time.. With a close above 6800, bullishness is reinforced and any fall may be utilized to buy with 6700 as stop loss(on close basis).  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 and any intraday weakness may be utlised to consider positional longs.

Nifty                               6818  +39

Review for Monday ::  Uptrend Continues…  !!!

Market traded in a narrow range (with bullish bias) for  most part of the day and broke out on the upper side and closed with a gain of more than 0.50% for the day. 27 of Nifty stocks gained and broader market  was quite strong with Advance Decline ratio at 1.5:1. Bank, Infra, Metal, Auto and Media indices gained while IT, Realty, FMCG indices declined. L&T, ICICI Bank, M&M contributed more than 25 points to Nifty’s gain while Hind Unilever, Infy, HDFC Bank dragged down by about 8 points..

 

L&T, SSLT, M&M, PNB, Bharti      stood out as major gainers among Nifty stocks while Wipro, Hind Unilever, Cairn, DLF  remained  losers.

  

Biocon, Bharti, Yes Bank, Godrej India  remained major  gainers  among F&O stocks while Wipro, Sun TV, Hind Unilever, Cairn  declined among F&O stocks. 

ALL TIME HIGHS

The BSE benchmark Sensex today rose to its all-time high of 22,795.58 but settled the day a few points lower at 22,764.83 on hectic buying in blue-chip stocks L&T, ICICI Bank and SBI. The 50-share Nifty of NSE breached the crucial 6,800-mark to end the day at it its all-time closing high of 6,817.65, a rise of 38.25 points or 0.56 per cent. It set a fresh all-time high of 6,825.45 intra-day. After a promising start, the BSE Sensex witnessed high volatility but a spurt of buying in the late afternoon trade lifted the index to its life-time high of 22,795.58. But it immediately pared some gains to settle the day at 22,764.83, a gain of 135.99 points or 0.60 per cent, from its previous close. Jignesh Chaudhary, Head Of Research, Veracity Broking Services, said: "Today European markets are closed on the occasion of Easter Monday, but Indian indices showed movement and again posted their all-time high levels with the help of blue-chip companies which traded positively."
Capital inflows also boosted the market sentiment as they bought shares worth a net Rs 433.40 crore on last Thursday, as per provisional data from the stock exchanges. "Buying in banking stocks, which had corrected to lower levels at the start of 2014, and other sectors like capital goods and metal are keeping markets at higher levels. Other beaten down sectors like realty and cement have also recovered and participating in the current rally," said Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio.
Mid-cap and small-cap indices also shot up by 0.79 per cent and 1.38 per cent respectively on sustained buying from retail investors and outperformed the Sensex.
The market may remain volatile this week in view of expiry of futures and options April contract on Wednesday, brokers said.