Thursday, July 24, 2014

NIFTY OUTLOOK FOR 25 & REVIEW

MID SESSION BETTER
Nifty continued its  gains for the Eighth day in a row . Nifty closed well above 7800 mark, a new record high for Nifty. Stop loss for long positions may be trailed to 7725. Nifty spot is expected to encounter resistance at 7865 7900 and find support at 7790 7755, for Friday.  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 better during midsession and could experience profit booking towards close.
Nifty 7831 +35
Review for Thursday :: Recovery in Second Half … !!!
Market remained subdued to marginally in the forenoon and broke out of the narrow range to close with about 0.50% gain towards close. 36 of Nifty stocks gained but broader market was marginally negative with an Advance Decline ratio of 1:!.1. Metal, PSU Bank, IT, FMCG indices gained while Media, Energy, Pharma indices declined..Metal, PSU Bank, IT, FMCG indices gained while Media, Energy and Pharma indices declined. ITC, Reliance, HDFC Bank and Infy contributed more than 15 points to Nifty’s gain.
Cairn declined sharply due to disappointing results,
Bank of Baroda, Asian Paints, HCL Tech and Tata Steel remained major gainers among Nifty stocks while Cairn. GAIL, Power Grid, Dr Reddy remained losers.
UCO Bank, Rel Capital, Bank of India, SAIL, JSW STeel    remained major gainers  among F&O stocks while JP Power, Cairn, JP Associates, Sun TV, Apollo Tyre  declined among F&O stocks.

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