Nifty continued its fall for the Second day and closed below 7750. One more fall would confirm the short term weakness. Stop loss for Nifty  long positions may be continued  at 7725. Nifty spot is expected to encounter resistance at 7785 7820 and find support at 7705 7670, for Tuesday.  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 in the forenoon and could face selling pressure towards close.
Nifty                               7749     -41
Review for Monday :: Bearish Bias … !!!
Market opened steady and drifted lower to trade with negative bias through out the day and closed with a loss of more than 0.50%. 35 of Nifty stocks closed in the red and broader market too was quite negative with Advance Decline ratio at about 1:2. IT, Pharma and FMCG indices gained while Realty, Metal, Media, Energy indices declined. ICICI Bank, Reliance and Axis Bank dragged down Nifty by more than 20 points while  Hind Unilever and Inbfy contained the fall by about 10 points.
Hind Unilever, HCL Tech, Cairn, PNB, BHEL remained gainers among Nifty stocks while DLF, Coal India, BPCL, Ambuja Cement remained major losers.
RPower, Hind Unilever, JP Associates, Glenmark, JP Power    remained major gainers  among F&O stocks while DLF, IRB, CESC, Tata Motors DVR, Jubilant Food   declined sharply among F&O stocks. 

Extending losses for the second day, equity benchmarks closed at one-week lows with the Sensex ending below the 26,000 mark and the Nifty ending at 7,748.70 as investors booked profits in recent out-performers in sectors including realty, metals, oil & gas. The BSE Sensex and the NSE Nifty were seen trading with negative bias ahead of tomorrow's trading holiday and July F&O expiry on Thursday. Market breadth was largely negative. Small-cap and mid-cap indices fell due to persistent selling pressure from retail investors. The 30-share index Sensex resumed higher at 26,173.47 hovered in a range of 26,181.83 and 25,900.25 before ending at 25,991.23, showing a loss of 135.52 points or 0.52 per cent from Friday's closing. It has now dropped 280.62 points, or 1.07 per cent, in two consecutive sessions. Today's closing is its weakest since July 21 (25,715.17). The CNX 50-share Nifty dropped by 41.75 points, or 0.54 per cent, to close at one-week low of 7,748.70. On Friday, it had slipped by over 40 points. In eight straight trading sessions (July 15-24), the Sensex and the Nifty spurted by over 5 per cent to hit lifetime highs. Stocks of FMCG major Hindustan Unilever gained 3.69 per cent after the company today reported increase in standalone net profit at Rs 1,056.85 crore for the June quarter. Among major losers, Coal India suffered the most by plunging over 3 per cent, the most in three weeks. Other laggards include Hindalco Industries, Tata Steel, RIL, ICICI Bank, SBI, Hero MotoCorp, M&M and Bajaj Auto. Foreign Portfolio Investors (FPIs) bought shares worth a net Rs 125.51 crore on last Friday, as per provisional data. In Asia, Chinese stocks led gains by jumping over 2 per cent on strong growth in profit at industrial companies in June 2014. Key indices in China, Hong Kong, Japan and South Korea ended higher by 0.20 per cent to 2.41 per cent while Taiwan weighted index declined by 0.20 per cent. European markets were trading mixed in their early trade as investors weighed company earnings and awaited data on American services and home sales. Key indices and France and UK firmed up by 0.15 per cent to 0.48 per cent while Germany's DAX was quoting lower by 0.03 per cent.



Popular posts from this blog

GOLD FLAKE BURNS FINGERDiversified group ITC Ltd today said it has increased prices of its Gold Flake cigarette brand by over 7 per cent. The price of Gold Flake Filter pack consisting of 10 cigarettes will now cost Rs 59 from Rs 55 earlier. Likewise, Gold Flake Premium Filter cigarette will cost Rs 58, up from Rs 55 earlier. When contacted, a company spokesperson confirmed the hike in prices. ITC, which is the market leader in cigarettes in India, sells various brands including India Kings, Classic Gold Flake, Navy Cut among others. The company's cigarettes business grew by 11.48 per cent to Rs 3,623.23 crore during the fourth quarter ended March 31, 2013, compared to Rs 3,249.88 crore in the same period of previous fiscal. ITC produces cigarettes at manufacturing plants located in Bengaluru, Munger, Saharanpur, Kolkata and Pune. Besides FMCG, ITC has interests hotels, paperboards and packaging, tobacco products and information technology. Net sales of the company rose to Rs 29,605.58 crore for the year ended March 31, 2013, compared to Rs 24,798.43 crore in the 2011-12 financial year. Shares of ITC today closed at Rs 338.50 on the BSE, up 3.74 per cent from its previous close.


వారానికి ఆస్ర్టో టెక్నిక‌ల్ గైడ్‌