INVESSTOR WEALTH RAISE BY 10.27 LAKHS

Investor wealth soared by over Rs 10.27 lakh crore to Rs 74.15 lakh crore during 2013-14 on the back of rising stock prices helped by smart foreign fund inflows. The BSE Sensex gained 3,550.5 points or 18.84 per cent in 2013-14 fiscal. Led by the rally in the stock market, the investor wealth soared by Rs 10,27,424 crore to Rs 74,15,310 crore as on today from Rs 63,87,886 crore in the previous fiscal, 2012-13.
Brokers have attributed the rally to investor hopes of a stable government after elections and signs of economy returning to high growth path. Foreign investors, the main drivers of Indian stock markets, have made net inflows of a whopping nearly Rs 80,000 crore in the domestic stocks during the current fiscal year.
Marketmen said that sentiment in the stock market picked up following euphoria related to general elections and on hopes that a BJP-led government will come into power in the upcoming Lok Sabha elections starting next month. Analysts expects that the Bharatiya Janata Party would win elections set to conclude by mid-May and this has fuelled rally in the stock market, given the party's perception of having a more market-friendly stance.
Besides, hopes that the country's economy will improve on the back of easing inflation have also played a key role in stellar market performance, they said.
Markets are waiting for the election outcome, which will have a major impact, an expert said.
"If BJP will come in power after the elections, it will be taken as a signal for stability in the economy and stock markets will take it very positively and a significant upside in the markets could be seen which will take indices to a completely new higher levels," said Vivek Gupta, Director Research, CapitalVia Global Research Limited. The levels may be as high as levels of 7,300-7,800 gradually in Nifty. Sectors like PSU banks, capital goods and infrastructure will be the main sectors which can show significant upside in the coming future, he added.

NO CURTAINS IN 3rd AC COACHES

Citing safety reasons, railways has decided to remove curtains put on pathways of all air- conditioned three-tier (3 AC) coaches of trains. However, the curtains from windows of 3 AC coaches will continue, officials said. Decision to remove curtains was taken on recommendation of Commissioner of Railways Safety (CoRS) following its enquiry into causes of last year's fire in Bangalore-Nanded Express train, that left at least 26 people in Andhra Pradesh.
"Railway Board had on March 12 decided to remove all curtains put on pathways of 3 AC coaches. All zonal railways have been instructed to remove them," a senior Railway Ministry official said. The zonal railways will remove the curtains as and when a train undergoes general maintenance works, he said.
Though the curtains were made of fire-retardant material, but considering CoRS recommendation, the board has decided to remove them, the official said.
A major fire had ripped through a third AC coach of the Bangalore-Nanded Express train, killing 26 people, including two children, in sleep and injuring 13 others in the wee hours of December 28, last year in Anantpur district of Andhra Pradesh.
In order to further improve fire safety mechanism in rolling stocks, railways has called a two-day international conference from April 24-25 on fire safety technologies here. Participants from Germany, France, Italy, the US and the UK will be attending the conference, he said.
The railways had in 2009 decided to put curtains in aisles of all air conditioned three-tier coaches, in order to give more privacy to passengers.Earlier railways has taken back some of its decisions-- extra side middle berth in sleeper train coaches and use of 'kulhar' (earthen pots) after it received flak from travellers.
In order to accommodate more passengers, former Railway Minister Lalu Prasad had in 2008 approved "high capacity coaches" with extra side middle berth seats for sleeper class. The facility was later extended for third AC coaches.
The high capacity sleeper coaches had 81 seats as against 72 in then (and now) existing sleeper class coaches. Whereas, modified third AC coaches had 72 seats as against 64 in then (and now) existing 3A class. The project had to be rolled back in 2009 after passengers complained of inconvenience due to the restricted sitting and sleeping space, the official said.
Similarly, Lalu's pet project of introducing 'Kulhars' by removing plastic cups also did not get many takers.
Lalu had in July 2004 introduced 'kulhars' which slowly vanished from trains and platforms. However, there is no ban on selling beverages like tea and coffee in 'Kulhars', the railway ministry official explained.

NIFTY OUTLOOK FOR 1st APRIL & REVIEW

RBI POLICY KEY

Inputs by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

sastry.saaketa@gmail.com

09848014561

Nifty continued its winning streak for 7^th day in a row and Nifty closes above 6700 mark. Stop loss for Nifty long positions may be maintained at  6600.    Nifty spot is expected to encounter resistance at 6745, 6780 and find support at 6665, 6630, for Tuesday. 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 be generally better in the midsession and could encounter selling pressure towards close. However, RBI Policy would be the main influencing factor for the market. Caution is advised at higher levels. 

Nifty                               6704  +8

Review for Monday :: Nifty Closes above 6700 mark …Metal Stocks Zoom …  !!!

Market appears to have encountered selling pressure at high levels but found support too at lower levels and finally closed in the positive territory ahead of RBI meet on Tuesday. 30 of Nifty stocks gained and  broader market too  was positive  with  Advance Decline ratio placed at 1.70:1. Metal, Realty, Auto, Media, IT indices gained while Infra, FMCG, Energy indices declined. Reliance, HDFC and Hindalco contributed about 15 points to Nifty’s gain while ITC and ONGC dragged down by more than 15 points.  

Bank Stock appeared nervous (due to profit booking) ahead of RBI meet in view of the huge rise in the recent past.  

 Hindalco, JP Associates, Tata Steel, SSLT, ITC    stood out as major gainers among Nifty stocks while ONGC, IDFC, Dr Reddy, Power Grid, Tech MAhindra remained major losers.

  

Unitech, SAIL, Hindalco, HDIL, JSW Steel  remained major gainers among F&O stocks while Just Dial, IDFC, ONGC, IOB   remained losers among F&O stocks.

ENDS THE FY ON PROMISING NOTE

Stock markets ended financial year 2013-14 in a grand fashion with the BSE benchmark Sensex and NSE Nifty moving up to all-time high levels for the sixth day in succession today. The indices, however, fell from their peak intra-day positions on profit-booking. The 30-share BSE Sensex rose to historic high of 22,467.21 points in a day marked by high volatility. The key barometer finally settled at 22,386.27 points-- setting a fresh closing record for the fourth straight day-- 46.30 points or 0.21 per cent higher than its previous close.
The 50-share Nifty recorded its lifetime closing high of 6,704.20, up by 8.30 points from its previous close. It jumped to 6,730.05, all-time intra-trade record high. With foreign fund flows continuing relentlessly, the indices have been setting record life-time high for six days in succession. Brokers attributed the rally to investor hopes of a stable government after elections and signs of economy returning to high growth path. The Sensex has gained 1,266.15 points in March this year, the best monthly gain since October. For the full fiscal, the key index has witnessed a rise of 3,550.50 points, an increase of 18.8 per cent from closing level on March 28 last year.
Expectations that the Reserve Bank of India (RBI) in its annual monetary policy tomorrow will keep the key rates unchanged also buoyed the market sentiment.
Metal stocks were at the forefront of the rally. Brokers said metal stocks attracted buying on hopes that China will take steps to stimulate sagging economy. The communist country is the world's largest consumer of copper and aluminium.
Hindalco zoomed 8.71 per cent to end the day as the best Sensex gainer of the day. Tata Steel was the next best 3.40 per cent, while SSLT gained 2.76 per cent. "Markets seem to be in a bullish mood and very optimistic of the upcoming RBI policy," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio. With the inflation and IIP numbers coming under manageable levels, markets are certainly expecting some positive news from RBI policy revies, he added. 

GLOBAL BRANDS LOOK ON INDIAN BABYCARE SEGMENT

The domestic baby and child care market, which has been growing at CAGR of 17 per cent since 2012, is set for a big boom with a host of global players foraying with innovative products. Brevi from Italy, Combi from Japan, Bubba Blue from Australia, Tiny Love from Israel, Grup Baby from Turkey, US Baby from China, Kiddy Gmbh from Germany, Tolly Joy from Singapore and Farlin from Taiwan are some of the top brands which will be foraying into the local market during an industry event taking place this week. "The child-baby care product industry is highly fragmented with few organised players in the fray. Considering the huge potential that this market offers, these brands are making a debut in the local market," UBM India Managing Director Joji George said. UBM India specialises in holding exhibitions with an aim to bring together all stakeholders -- manufacturers, distributors, retailers as well as consumers -- at one common platform and has been organising the second edition of industry event, CBME India 2014 from April 3. With India being home to around 50 million babies in the 0-2 years age group and 304.8 million children in the 0-12 years group, the country offers immense opportunities to the segment players to tap this growing market, he said. According to research and consultancy firm RNCOS, the domestic baby and children care products market which includes apparel, footwear, toys and baby cosmetics is growing in sync with the retail industry growth, and is estimated to grow at a CAGR of around 17 per cent during 2012-2017 to USD 26.2 billion from USD 11.8 billion in 2012. Despite worldwide economic crisis, the sales soared to USD 11.8 billion in 2012, owing to strong demand for baby and children apparel, footwear, toys and baby cosmetics, RNCOS said in the report. Some of the innovative products which are expected to be rolled out during the event include ergonomically designed furniture for infants and kids to support better growth and development, tablets for kids, musical toys which help to put the baby to sleep, among others, Joji said.

HONGKONG VISITORS TOP SPENDERS IN INDIA

Visitors from Hong Kong have topped the list of travellers paying the most for hotel accommodation in India in 2013, parting with an average Rs 8,061 per night, which is six per cent more than what they paid in 2012, says a report. Visitors from West Asia stood at the second place, paying Rs 7,909 a night, followed by South Africans, who paid Rs 7,594, Hotels.com said in the report. "Travellers from Hong Kong paid the most for hotel accommodation in India in 2013, paying Rs 8,061 a night. This is a 6 per cent increase when compared to what they paid in 2012," according to Hotels.com Hotel Price Index (HPI). Travellers from both West Asia and South Africa paid 3 per cent and 4 per cent, respectively, more than the previous year, it showed. Many of the highest increases were paid by visitors from Europe. Among the European nations, travellers from Belgium parted 25 per cent more at Rs 6,363, Finland (22 per cent) at Rs 6,187 and Italy had the same percentage increase, taking its average to Rs 6,098. Thailand and China were the fastest risers in Asia with the former up 23 per cent at Rs 6,903 at and the latter up 17 per cent at Rs 7,115. Of the few countries whose spending declined, the Brazilians saw the hardest fall, parting with 10 per cent less during 2013 to Rs 6,645, followed by Japan with its own devalued currency deterring foreign travel, down 6 per cent to Rs 7,154. Other countries that spent less and were seen at the bottom of the list includes Malaysia where travellers paid the least at Rs 5,315 per night, registering a drop of one per cent, followed by the Russians, down 2 per cent to Rs 5,510 and the Taiwanese, down 5 per cent to Rs 5,517. The report, which also listed the top destinations for overseas visitors coming to India, said that Delhi, Mumbai, Goa, Bengaluru, Chennai and Jaipur continued to reserve the top six spots in 2013. Agra, the Indian city that is known to attract international tourists the most, has dropped two spots. The land of Taj Mahal has moved from seventh to ninth position, giving way to Hyderabad and Thiruvananthapuram in 2013.

NSE INVESTOTHAN

The National Stock Exchange (NSE) today held the 30th 'Investothon,' the fourth time in the financial capital, to create awareness among investors and market intermediaries about the importance of investing safely. The event was flagged off by NSE Managing Director and Chief Executive Chitra Ramkrishna and attended by HDFC Ltd CEO Keki Mistry, SBI MD and Group Executive (national banking) A Krishna Kumar, ICICI Lombard General Insurance Managing Director and Chief Executive Bhargav Dasgupta, a release said here. Besides, Olympic Gold Quest CEO and former Hockey Captain Viren Rasquinha also participated in the event, it said. "NSE takes a number of initiatives to reach out to investors in different parts of the country. The investor run is aimed at strengthening NSE's efforts to grow the investor base, by joining hands with members and market participants, to sensitise investors about safe investing and opportunities available in the markets," Ramkrishna said. NSE, the country's leading stock exchange, has been organising Investothon across cities such as Bangalore, Pune, Bhubaneshwar, Kochi, Ahmedabad, Rajkot, Indore, Vadodara and Jaipur, apart from the metros, since 2011. More than 53,000 people have participated in the Investothon in the past three years, the release added.

WEEKLLY ASTRO GUIDE FOR NIFTY

Inputs by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

sastry.saaketa@gmail.com

09848014561

FURTHER RISE...?

Outlook for Next Week :: 31.03.2014 to 04.04.2014

Planetary Position ::  During the current week Moon would be transiting  from Revathi in Pisces to Rohini in Taurus. Sun transits in Revathi in Pisces . .  Mercury transits  in Poorvabhadra  in  Aquarius and Pisces . Mars  transits in   Chitta constellation in Virgo  and has been in  Retrograde motion from 1^st March till 20^th May.    Saturn too in  Retrograde motion from 2^nd March till 20^th July and presently in  Visakha  constellation in  Gemini navamsa.   Jupiter transits in Aardra constellation and in  Pisces Navamsa during the week.  Nifty’s range between 28^th and 31^st March would be the reference range for the next Three weeks. Nifty can be econsidered bullish above the High and bearish below the Low. Further, global markets can be expected to correct in Second half of April and whether our markets would follow is to be seen?

NIFTY :: 6696 (+201)  

 “When money talks, listen with interest.. Don’t argue with Money”. This is what is going on in stock market now. Market is controlled by Two levers ie., Fear and Greed. It is the turn of Greed now.  However, it is not baseless,as it always appears, as markets are experiencing a preelection rally hoping a stable, pro market Government.

After Two weeks of sideway movements Nifty rallied sharply last week and closed with a gain of more than 3% and a clear shift was seen in sectors as sofar performing sectors IT and Pharma took a back seat and Cyclicals and Financials in the forefront. However, it is only the beginning and a lot of upside is possible if global cues improve and we have a proactive Government at the Centre. However, as Nifty had gone up without a meaningful correction, the same is to be expected either in April or May. But sooner the better it is as any meaningful correction could give an opportunity to enter. However, market’s nature is to surprise and this time could be no exception. Based on current market movement, sector specific / stock specific approach is more relevant for swing traders. With the recent rise, Nifty has clearly come out of the trading range and 200 DMA could become a strong base even from long term point of view.   Technically, though the trend is firm and bullish,  caution is advised at higher levels as  and  retracement  is to be expected. .However, as Nifty has resumed uptrend after Two weeks of sideways movement, further rise for another Two weeks can be expected before a meaningful correction.

Nifty had traded in a narrow range last week and a weekly breakout  would happen above  6600 and break down would take place below 6450. Bank Nifty (12785) is on the verge of a powerful breakout, which if happens would give an excellent buying opportunity in Bank stocks which could rally much higher. IT Index(9345) has resistance at 9750 and support at 9100 for next week. IF 9100 level is broken , the fall can be steeper. Breakout on Bank Nifty and Break down in IT index could have a compensating effect on Nifty. Strengthening Rupee is also adding to the woes of export oriented sectors suchas IT and Pharma.  

Nifty continues to be above 200 DMA and 50 DMA too is above 200 DMA suggesting that the long term bullish trend is intact. Bank Nifty too exhibited strength last week and is above 200 DMA Energy major, Scrip rotation has become the order of the day. Big event of 2014 is Loksabha Elections and the outcome would dictate the future trend.  As of now, market expects NDA to return to power and carry the development agenda and stock market discounts future in advance.  Even with the recent  rise, Nifty is quoting at a PE of 18.75 , which is only 4% above the long term PE of 18. Hence, further upside (upto 7500 to 8000) is possible  in case  a stable and performing Government returns to power at the centre as earnings go up over the time in an inflation ridden economy.

Further, Nifty has been trading in a range of 4600 to 6300 for more than 4 years and  a  powerful breakout appears to be unfolding. (expected post election results but the liquidity is in a hurry  to complete the task as stock market usually ahead by about  Six months. Hence strong long term support would be around 6000 level.  

For Short term,  the stop loss is 6600, and for Medium term, stop loss is 6000.   For the current week, Nifty spot is expected to continue with the uptrend as long as it holds above the support level of 6600., Breakout level for the week is 6750 and break down level is 6465. As breakdown level is far away and unlikely to be broken considering the present euphoria, if break out level of 6750 is broken further upside can be expected.

For the coming week, Nifty spot is expected to face resistance at
6780,  6860, 6860 and find support at 6615, 6530, 6450.

Nifty in short term bullishness would come out of the same only if it closes below 6600, .

Advice for Traders :: As Nifty has broken out after Two weeks of consolidation, further upside is possible for another One or Two weeks before a meaningful retracement. Hence, Buy on dips as long as it holds above 6600 in first half of the week and above 6660 in Second half of the week. Further, traders may track scrip wise / sectorwise movement as all sectors do not move in tandem. However, entire April month might not remain bullish and correction could set in Second half  of the month.

GANN Natural levels....

6281,6361, 6441 , 6521, 6628, 6769,6913

RUPEE GAINS ANOTHER 40 PAISE

T

he rupee breached the 60-level to 59.91 against the dollar for the first time in eight months against the dollar, buoyed by strong equities and consistent fund inflows. At the Interbank Foreign Exchange (Forex) market, the rupee surged 63 paise to 59.68 during the day but surrendered some gains. Forex dealers said that Reserve Bank was present in the market at various levels, at 60, 59.95 and 59.85, which capped the rupee’s gain. The domestic currency finally settled the day at 59.91, a surge of 40 paise or 0.66 per cent from its previous close. Previously, the rupee had logged its intra-day high of 59.52 on July 30, 2013 rpt 2013 and registered its closing high of 59.41 on July 29, 2013 rpt 2013. Forex dealers, however, said the rupee may weaken if the poll outcome is not as per market expectations. "Higher inflows from foreign investors has been supporting the rupee," said Ramesh Singh, Treasurer at Central Bank of India, adding that once the current euphoria on hopes of a new government gets over and markets get stabilized, we may see some fall in the rupee. Sustained dollar selling by exporters too aided the rupee sentiment, a dealer said. Pramit Brahmbhatt, CEO, Alpari Financial Services (India) said: "Today rupee traded strong throughout the day against the dollar and made eight month high of 59.68, taking cues from the local equities which traded at all time high." The BSE benchmark Sensex scaled a new high for the fifth straight day today but ended a little lower at 22,339.97, which is its fresh closing record. It set all-time record of 22,363.97 points intra-day. FIIs injected USD 375.44 million yesterday as per Sebi data. The dollar index was up by a mere 0.05 per cent against its major global rivals in overseas market.

REFORMS PROVIDE 110 MILLION JOBS IN 10 YEARS

As general elections draw closer, global financial major Goldman Sachs today said 40 million new manufacturing jobs can be created in a decade if states follow flexible labour laws like in Gujarat. Besides labour laws, implementation of proper reforms in other areas such as subsidies, can lead to overall job gains rising to 110 million over the next 10 years, the largest for any major economy, Goldman Sachs said. The observations assume significance as they come at a time when a political debate is underway on the comparison between growth model of Narendra Modi-led Gujarat and that of other states ruled by Congress and other parties. Modi is the Prime Ministerial Candidate of BJP, which is trying to wrestle power from Congress at the Centre. The report said, the Gujarat government amended the Industrial Disputes Act in 2004 to allow for greater flexibility in the labour market for Special Economic Zones (SEZ). It allowed for companies within SEZs to lay off workers, without seeking the permission of the government, by simply giving a 1-month notice to the worker. In contrast, the West Bengal government, made several pro-worker changes. It changed the laws to make it virtually impossible to shut down a loss-making factory. Accordingly, Gujarat has experienced a 60 per cent growth in manufacturing employment between 2000-12, while West Bengal has seen only a 22 per cent increase. Goldman Sachs said as a new government takes charge from mid-2014, it sees labour market reforms as a critical ingredient to accelerate India's economic growth rate. "If India were to undertake significant reforms in the labour market, the benefits could be quite large," Goldman Sachs said. In a bull scenario, it projected that India could add some 110 million workers over the next decade. At this level, the number of jobs that India could create would be larger than that of the US, China, Russia, and Brazil combined, Goldman Sachs said. According to the financial services firm, India's stringent labour laws are a key factor constraining employment growth and the reforms like simpler labour laws, more flexibility to hire and fire, self certification by the employers, amendment in Trade Union act and faster dispute settlement, are likely to increase flexibility and boost employment. India's employment growth in recent years has been anaemic. The economy added only about 2 million jobs each year between FY05 to FY12, compared to 12 million a year in the 5 years before this period, it said. "As a labour abundant country, India should be generating jobs in labour-intensive manufacturing," the report said. India has some 44 labour laws which are enacted by the central government and enforced by both the central as well as state governments. In addition, there are also labour laws enacted and enforced by the various state governments. Some laws date back to the colonial era. The Trade Unions Act is from 1926, the Workmen's Compensation Act is from 1923, and the Factories Act from 1948.

MARKET REACH ANOTHER PEAKS

The BSE benchmark Sensex rose to its historic high level for the fifth straight day today but ended a tad lower at 22,339.97, which is its fresh closing record. The 30-share index surged to record intra-day high of 22,363.97 points on buying by foreign funds mainly in banking stocks after RBI extended the deadline for banks to implement BASEL III norms by a year to 2019.
Increased fun flows also pushed the rupee to trade below a crucial 60 level against the US dollar which further strengthened the market sentiment, brokers said.
Later, the barometer closed at 22,339.97 points, up by 125.60 points, or 0.57 per cent, over the previous close. The National Stock Exchange's wide-based index Nifty shot up by 54.15 points, or 0.82 per cent, to record closing high of 6,695.90, after hitting a life-time high of 6,702.60 in day trade. Both the key indices touched record high levels intra-day in the five sessions till today.

Brokers said the market remained on a record setting spree this week ever since indications of an improvement in the economic growth and expectations of RBI keeping interest rates on hold in its policy meeting on Tuesday. They said the FIIs were fancy of Indian equties and remained net buyers, which also raised demand for the rupee. The rupee appreciated to 59.90 per dollar at one point of time, its best level in eight months. The currency has risen 2.8 per cent this month, the most among major Asian currencies. State-run banks continued to support the rally on interest concerns and RBI extended the deadline for banks to implement Basel III capital rules by a year, they added.
In 30-BSE index components, 19 stocks ended with gains led by SBI, Infosys, Reliance Industries and Tata Power. The power sector index surged the most by rising 3.02 per cent to 1,734.99 followed by PSU index by 2.17 per cent to 6,363.83.
The Realty index rose by 1.61 per cent to 1,427.96 and metal index by 1.52 per cent to 9,684.27.

DGCA CRACKS DOWN ON PRIVATE JETS

Cracking down on private air charters, DGCA today refused to allow a private aircraft to take off from Delhi for violating safety norms and dismissed the pilot of Reliance Industries who was not carrying his license while on duty.
In Mumbai, officials of the aviation regulator also held up two such flights -- one of L&T and the other of Poonawalla Aviation company -- on the same grounds today, DGCA sources said.
In Delhi, a Hawker 800 XP of SRC Aviation, which was to fly to Colombo on a chartered flight, was not allowed to take off for several hours as DGCA officials, conducting the checks, found several safety violations, like absence of life jackets or minimum equipment list, the sources said.
Similar violations were also found in the Falcon 900 plane of Poonawallah, which landed at Mumbai from Agra, they said, adding that L&T's aircraft also violated safety norms.
The action comes at a time when private planes and helicopters are being heavily used as charters to fly political leaders across the country on poll campaign.
Almost a week ago, DGCA officials conducted surprise checks and grounded a Reliance Industries-owned 14-seater Falcon 900EX and suspended its pilot for violating safety norms.
While the aircraft was released after the deficiencies were removed, the sources said the Reliance pilot has now been dismissed. 
The regulator, which had also issued show-cause notices to SpiceJet on safety violations for performing dance on board a flight to celebrate Holi, has also received a letter from the no-frill carrier not to repeat such activities without DGCA's permission, the sources said.
A 13-seater Global Express BD 700 aircraft (VT-JSB), owned by the Jindals, was also held up for not carrying operations manuals or the lists of safety and emergency equipment on board.
DGCA had a month ago also grounded a United Airlines Boeing 777 aircraft in Mumbai after engineers found its right engine cover badly damaged.
Following the downgrade of Indian aviation safety system by the US Federal Aviation Administration (FAA) on January 31, the DGCA has been conducting such surprise checks on a regular basis, apart from taking other action so that it can restore its top-most safety rating as soon as possible.
The sources said the DGCA has completed induction of a large number of Flight Inspectors, a major condition highlighted by the FAA.

INNOVATIVE PROPOSAL FROM SAHARA EMPLOYEES

In a fresh dramatic twist to the Sebi-Sahara saga, an innovative idea was today floated for collection of at least Rs 1 lakh each from Sahara employees and 'well-wishers' to garner at least Rs 5,000 crore and secure group chief Subrata Roy's release from Tihar Jail.
The money has been proposed to be collected in lieu of shares in Saharayn e-Multipurpose Society Ltd, which would be alloted to each contributing employee of the entertainment-to retail business conglomerate, which claims to have a workforce of over 11 lakh salaried and field workers.
The contribution 'appeal' was made through a one-page letter signed by directors of this Society and 'associates' of the group and asked each employee of the Sahara India Pariwar and their well-wishers to contribute Rs 1 lakh, Rs 2 lakh, Rs 3 lakh or even more as per their wish and capacity.
When contacted, a senior Sahara official clarified that the letter has not been issued by Subrata Roy or by the management and "it is only an emotional initiative from people in reaction to prevailing situation".
He said that this should not be construed as Sahara group or the management asking its workers to make any contribution.
"As Saharasri (the name by which Roy is called in the group) has build this organisation as Pariwar or family, lots of such letters are coming from through out the country. Hope this unique sentiment for the chief guardian of our Pariwar would be understood," he added.
Roy, 65, has been in Tihar jail since March 4 and the Supreme Court earlier this month proposed a conditional interim bail for him asking the group to deposit Rs 10,000 crore including Rs 5,000 crore as bank guarantee.
However, the group's lawyers informed the court yesterday that they were finding it difficult to immediately mobilise such a large amount to get Roy and two directors out on bail.
The lawyers also submitted that the apex court's order for detaining Roy for not paying Rs 20,000 crore of investors money with SEBI was illegal and unconstitutional and sought quashing of this order.

INVESTMENT LIMIT FOR IIB's HIKED

The Reserve Bank today said the investment limit in the inflation indexed bonds for individuals has been doubled to Rs 10 lakh. Also, the limit for institutions like HUF (Hindu undivided family), Charitable Trusts, Education Endowments and similar institutions which are not pro-profit in nature has been increased from Rs 5 lakh to Rs 25 lakh per annum, RBI said. The subscription for the Inflation Indexed National Savings Securities- Cumulative will close on March 31. The RBI in consultation with government had launched the bond in December. Earlier, the bond was open for subscription during December 23-31, but was later extended to March 31. Interest rate on the bonds are linked to Consumer Price Index (CPI).
These securities will be issued in the form of Bonds Ledger Account (BLA).

NIFTY OUTLOOK FOR 27th & REVIEW

CAUTION @ HIGHER LEVELS

Inputs by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

sastry.saaketa@gmail.com

09848014561

Nifty maintained above 6600 mark for most part of the day and closed too above 6600 with a nomination gain of about 10 points. Thursday, 27^th March, being last day of March Derivative series, scrip specific action can be expected with Bullish stocks being further bullish and bearish stocks going down further. , generally. Stop loss for Nifty long positions may be enhanced to 6540.   Nifty spot is expected to encounter resistance at 6640, 6675 and find support at 6560, 6525, for Thursday. 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 encounter zigzag  movements with scrip specific movements on account of last day of Derivative closing and caution is advised at higher levels as selling / profit booking could emerge.

Nifty                               6601  +11

Review for Wednesday :: Zigzag Movement with Bullish Bias …  !!!

Market opened higher but could not sustain at higher levels and went into red during midsession  and recovered towards to close  with moderate gains for the day. 28 of Nifty stocks gained but broader market was flat with  Advance Declines evenly poised. Metal, PSU Bank, Energy, Auto, Infra  indices gained while Pharma, Media, IT and FMCG indices declined.

SSLT, Hindalco, Jindal Steel, IDFC, Bank of Baroda   stood out as major gainers among Nifty stocks while Dr Reddy, Lupin, JP Associates, Sun Pharma, TCS, DLF remained major losers.

 

Ashok Leyland, SAIL, Yes Bank, Arvind, SSLT, Hindalco  remained major gainers among F&O stocks while IB Realestate, Glenmark, Dr Reddy, Bharat Forge, Zee   remained losers among F&O stocks. 

SENSEX, NIFTY @ LIFETIME HIGHS

Consistent pumping of money by foreign institutional investors lifted the BSE benchmark index Sensex and broader NSE Nifty to their lifetime closing high of 22,095.30 and 6,601.40 points respectively today. The 30-share Sensex opened on a strong note and rose to historical peak of 22,172.10 points intra-day. It, however, lost some momentum and settled the day at 22,095.30, its record closing high, by gaining 40.09 points or 0.18 per cent.
The NSE Nifty, comprising 50 shares, firmed up by 11.65 points or 0.18 per cent to close above 6,600 level for the first time at 6,601.40 points. The broader index touched intra-trade record high of 6,627.45 points. Foreign institutional investors (FIIs) bought shares worth a net Rs 1,223.28 crore, as per provisional data available with stock exchanges. Market experts said positive global cues and overall optimism boosted the buying sentiment. Short-covering ahead of the expiry of futures and options contracts tomorrow also helped to lift the indices to to their all-time high levels. Metal, capital goods, refinery and auto shares were in demand, while pharma, IT, teck and FMCG counters were at the receiving end. Jignesh Chaudhary, Head Of Research, Veracity Broking Services said: "Investor confidence got a much-needed boost from upbeat US data and diminishing concerns over the Ukraine/Crimea crisis. "Gains were also supported by strong buying by overseas investors, who bought Indian shares worth of USD 3.5 billion into local shares and debt since March 1 amid easing inflation and forecasts for quickening growth, and ahead of national elections." This year Sensex traded strong and has increased 4.6 percent, the best performer among the four largest emerging markets, including China, Russia and Brazil, he added.

 

SENSEX, NIFTY HIT LIFE TIME HIGH

Indian benchmark indices made a stellar start to the week with Sensex and Nifty today logging new lifetime highs, boosted by FII buying in banking shares on hopes the RBI will hold rates in the upcoming policy review. Hectic activity in select sectors ahead of the expiry of March derivative contracts on Thursday also helped domestic markets shrug off weak Chinese data, say traders. 

The BSE Sensex resumed strong and gradually moved upwards to a new intra-day historic high of 22,074.34, before concluding at 22,055.48 -- gain of 300.16 points, or 1.38 per cent, which is the biggest daily rise in two weeks. It surpassed previous closing high of 21,934.83 recorded on March 10 and lifetime peak of 22,040.72 set on March 18. The broader 50-issue CNX Nifty of the NSE also flared up by 88.60 points, or 1.36 per cent, to end at new record closing of 6,583.50. It registered lifetime peak of 6,591.50 on an intra-day basis as well. Some experts advised caution as benchmark indices set new highs. "When the index is already trading at its all-time high levels, overall risk is high. However, investors may invest in specific stocks, particularly in correction or at breakout above crucial resistance levels," said Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio.

Banking, refinery, metal, auto, power and capital goods counters attracted good buying interest while shares from pharma, consumer durable and IT segments saw profit-booking. Smart gains in ICICI Bank, HDFC Bank, RIL, HDFC, ITC, ONGC, TCS, HUL, L&T and GAIL mainly pushed the indices up. "Banks stood out as clear outperformers. ONGC rallied 4 per cent ahead of board meeting for announcement of interim dividend. Indian market has been strong in current year aided by robust FII flows and optimism related to general elections," said Sanjeev Zarbade, Vice President- Private Client Group Research, Kotak Securities. Mirroring rise in stocks, Indian rupee hit 60.64 levels against the dollar, amid firming trend in global markets. Jayant Manglik, President-retail distribution, Religare Securities said the surge in stocks was triggered by the buoyancy in banking counters as majority expects there would be no change in policy rates. Asian shares ended higher, ignoring China HSBC flash manufacturing purchasing managers index (PMI) that fell to an eight-month low in March.

Among the S&P BSE sectoral indices, Bankex rose by 2.73 per cent, followed by Oil&Gas (2.46 per cent), Metal (0.97 per cent), Auto (0.91 per cent), Power (0.89 per cent) and Capital Goods (0.83 per cent). However, the market breadth turned lower at 1,527 stocks ended in the red, 1276 finished with in the green while 158 ruled steady. The total market turnover rose to Rs 2,348.96 crore from Rs 449.09 crore on Saturday.

2 INDIAN ENTREPRENUERS GOT ACCOLADES

As many as 37 social entrepreneurs including two Indians have been recognised by the Schwab Foundation as Social Entrepreneurs of the Year 2014. The two Indian awardees are -- Shelly Batra of Operation ASHA and Chetna Vijay Sinha of Mann Deshi Bank and Mann Deshi Foundation. The 37 social entrepreneurs working in health, education, employment, and the environment were selected in recognition of their innovative approaches and potential for global impact, Schwab Foundation said in a statement. On 'Operation ASHA', Schwab Foundation said it is "tackling the fractured delivery system of Government of India's TB control program through a doorstep TB detection and treatment service that is low-cost, high quality and accessible to the poor." Operation Asha is active in India and Cambodia and the number of direct beneficiaries stood at 30,500 fully treated patients, the statement said. Meanwhile, Mann Deshi Mahila Bank was founded as India's first rural cooperative bank in 1997. Its client base (and membership) is 100 per cent composed of semi-literate or illiterate poor rural women with an average annual income of less than USD 1.5 per day. The number of direct beneficiaries stood at 209,000. "Social entrepreneurs are the driving force behind innovations that improve the quality of life of individuals around the world, and they represent an integral and dynamic community of the World Economic Forum," Hilde Schwab, Co-Founder and Chairperson, Schwab Foundation for Social Entrepreneurship said. The 2014 awardees include: Seiko Adachi & Masue Katayama of Shinko Fukushikai (Japan); Shaikh Saif Al Rashid of JITA (Bangladesh); Richard Barth & Mike Feinberg of KIPP Foundation (USA); Jay Kimmelman and Shannon May of Bridge International Academies (Kenya); Adina Tal of Nalaga’at (Israel); Chris Underhill of BasicNeeds (United Kingdom) and Allen Wilcox of VillageReach (Mozambique) among others. The awardees will become part of the broader Schwab Foundation community of social entrepreneurs. The community includes 250 social entrepreneurs from 60 countries.

PERMANENT ACCOUNT Nos FOR EPFO SUBSCRIBERS FROM OCTOBER

Retirement fund body EPFO will start providing permanent account numbers on the pattern of core banking services to its over five crore subscribers from October this year. Permanent or universal account number (UAN) will facilitate subscribers to avoid filing PF account transfer claims on changing jobs.
After getting UAN, a subscriber would not be issued new PF account number on joining new employer. It is expected to provide great relief to those workers in organised sector who frequently change jobs, particularly, in the construction sector. The UAN would be one account number which would be allotted to a subscriber for various schemes run by the Employees' Provident Fund Organisation (EPFO) for his or her entire service period with different employers. "We have engaged C-DAC for preparing a roadmap for implementing the UAN programme for our subscribers. We will launch it on October 1 this year," EPFO's Central Provident Fund Commissioner K K Jalan told PTI. The Centre for Development of Advanced Computing (C-DAC) is the premier research and development organisation under the Ministry of Communications & Information Technology for carrying out R&D in IT, Electronics and associated areas. According to a senior EPFO official, the UAN will help reduce the workload of the EPFO to a great extent as it receives over 12 lakh claims for transfer of PF account on changing of jobs by its subscribers. EPFO has settled over 1.1 crore PF claims including PF withdrawal and transfer till February end of this fiscal. It expects 1.2 crore such claims in 2013-14, including around 13 lakh PF transfer claims. The official said that a large number of subscribers choose to close their PF and pension account with EPFO and seek withdrawal of their funds in view of time consuming process of transfer of PF accounts on changing jobs. However, the EPFO had started the facility of filing online transfer of PF account claims in October last year to make the transaction faster. During 2012-13, the EPFO had settled 1.08 crore claims, 88 per cent of which were processed within 30 days, as prescribed by the body's citizen charter.

CPSE ETF TO REOPEN IN APRIL

Investors will get another chance to own a portfolio of bluechip PSU stocks offered in the CPSE Exchange Traded Fund (ETF) as the scheme will reopen for subscription in the first week of April.
The New Fund Offer (NFO), which closed on March 21 after mopping up bids worth Rs 4,200 crore, is expected to see renewed inflows as the excess demand of Rs 1,200 crore may come in when the subscription reopens. The government had targeted raising Rs 3,000 crore through the scheme, its first attempt to garner disinvestment proceeds via the mutual fund route. The NFO saw encouraging response as investors, both domestic and foreign, pumped in funds even as stock markets mostly remained range-bound.
"The scheme will reopen for continuous subscription and redemption on or before April 4 instead of the earlier announced April 11, so as to give interested investors a chance to invest and trade freely," a source said.
The CPSE ETF basket consists of shares of 10 PSUs and provides an opportunity for investors to become part-owners of Oil & Natural Gas Corp, GAIL India, Coal India, Indian Oil, Oil India, Power Finance Corp, Rural Electrification Corp, Container Corp, Engineers India and Bharat Electronics. An ETF is a security that tracks an index, a commodity or a basket of assets like an index fund, but trades like a stock on an exchange.
The success of the PSU ETF takes the disinvestment proceeds for the current fiscal to Rs 16,119 crore, a tad higher than budgeted Rs 16,027 crore.

MAJORITY LOAN SEEKERS ARE UNDER 30's

There has been a huge rise in the number of people under 30 years of age seeking credit in the last five years, according to credit information provider Cibil report. While those under 30 years constituted just around 7 per cent of the new credit applicants in 2008 and the same has grown to over 25 per cent now, the Cibil report said. Interestingly, eagerness shown by youth in getting indebted comes at a time when people have been complaining about bleak times on the economic front due to falling growth, which also led to some job losses, the report said. Till FY 2008-09, the economy was doing very well and the same has now plummeted and logging even a 5 per cent growth is also seemed to be an uphill task this fiscal, it said. Cibil further said it could be noted that the demographics have undergone a radical shift in the past decade, with the country getting more "younger", i.e. the percentage of working age population (between 15 and 35) growing rapidly. The percentage of those under 40 years applying for their first credit has gone up to 60 per cent in 2014, from the 50 per cent mark in 2008, the report said. "Youth are driving credit growth with 60 per cent of new loan applications coming from applicants, who are under 40," it said. With the economic growth facing troubles, coupled with a sense of "policy paralysis", lenders have been focusing very hard on the retail segment for growth as the project loans are not coming at all, the report said. 
According to the Cibil, which has completed 10 years of operations, retail credit growth has driven an increase in its credit reports usage at loan origination. The credit information company said in the last five years, bulk of the growth has come from personal loans and two wheeler loan segments, followed by home loans. Cibil claimed the data it produces, and prudent risk management policies, have resulted in fewer delinquencies in banks' retail portfolios. It said the NPA rate of around 1.9 per cent in 2010 has declined to 1.3 per cent in 2013. "There is almost 30 per cent reduction in NPA rates over the last four years," it said. In what it claimed is representative of the increasing usage of credit scores, Cibil said over 80 per cent of the credit active population has a Cibil Transunion score of greater than 750.

NOW WATER ATM's

Residents of the city can now buy water from an ATM, that too at an affordable price of Rs 1 per litre. In a first-of-its-kind for Mumbaikars, non-profit group Vandana Foundation has started 'AQUATM', a water vending machine. "The ATM can vend up to 1,000 litres per day... The water from AQUATM will be available to consumers at the price of Re 1 per litre," the Foundation said in a statement. Vandana Foundation and another non-profit group Aquakraft have come together for the water ATM. The vending machine has been set up at Mankhurd where there are water contamination problems.It can be operated through prepaid cards.

FREE COPY OF CREDIT PROFILE

Customers should be given a free copy of their credit profile as it would help in promoting financial discipline among loan seekers, an RBI report says. "The Committee has suggested that providing customers with a free copy of their Credit Information Reports (CIRs) would help create awareness about the need to have credit discipline, enable customers to correct their behaviour and improve their score well before they plan to avail fresh credit of any kind...," the report said. The move would also help detect identity theft at an early stage, it added. Report of the 'Committee to recommend Data Format for Furnishing of Credit Information to Credit Information Companies (CICs)' has been put up on RBI's website for comments. The committee, which recently submitted its report to RBI, has made wide ranging recommendations on issues relating to credit information, such as, increasing its coverage, format of reports and best practices to be followed by credit institutions, credit information companies (CICs) and the RBI. The panel, headed by Aditya Puri, Chairman of HDFC Bank, also recommended use of common data formats and a common data quality index that could assist credit institutions in determining the gaps in data. Low usage of credit information by member institutions and other specified users needs to be addressed by requiring CICs to populate their databases with requisite credit information so that enquiries by specified users yield desired information, it added. "This can be done by increasing the coverage of credit information in terms of membership and products and by creating awareness about Credit Information Reports (CIRs)," the report said. The Credit Information Bureau (India) (CIBIL) was incorporated in 2000. Following enactment of the Credit Information Companies (Regulation) Act (CICRA) in 2005, three other Credit Information Companies (CICs) were also set up. The report said that reducing the information asymmetry between lenders and borrowers, provides a fillip to the growth of credit especially among the disadvantaged sections of society. The panel suggested that CICs should have a common classification of credit scores so they are easier to understand and interpret. It suggested that the CIBIL method of calibrating from 300 to 900 may be adopted by other CICs. It further said banks and financial institutions may report cases of wilful default directly to the CICs.

WEEKLY ASTRO GUIDE FOR NIFTY

WIDE RANGE WITH BEARISH BIAS

Inputs by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

sastry.saaketa@gmail.com

09848014561

General outlook for the week (24.03.2014 to 28.03.2014) ::

Planetary Position ::  During the current week Moon would be transiting  from Moola in Sagittariusi  to Sathabhisham in Aquarius. Sun transits in Uttarabahdra in Pisces . .Mercury transits  in Sathabhisham constellation in  Aquarius . Mars  transits in   Chitta constellation in Libra and Virgo  and has been in  Retrograde motion from 1^st March till 20^th May.  Saturn too in  Retrograde motion from 2^nd March till 20^th July and presently in  Visakha  constellation in  Gemini navamsa.  Jupiter transits in Aardra constellation and in  Pisces Navamsa during the week. Mars’ position in Chitta in Airy sign in Vargottamamsa created too much of activity and bullishness but its reentry into earthy and inimical sign Virgo on 25^th could take away bullishness and bring back bearishness and consequently the much awaited correction. During the current week Moon’s position in Sagittarius on Mon and Tuesday once again acrtivates T square between outer planets. Hence caution is advised at higher levels. Further, Nifty’s range between 28^th and 31^st March would be the reference range for the next Three weeks.

Nifty Outlook

NIFTY :: 6495 (-9)  

Nifty which moved smartly in the first week of March, moved sideways for the last Two weeks and appears set for a smart rise once again or the much awaited correction for the earlier rise. Market Undertone continues to be quite bullish but  a reasonable retracement is still due and can be expected sooner than later. Based on current market movement, sector specific / stock specific approach is more relevant for swing traders. With the recent rise, Nifty has clearly come out of the trading range and 200 DMA could become a strong base even from long term point of view.  March month has already clocked in  a gain of about 4%. Technically, though the trend is firm and bullish,  caution is advised at higher levels as  and  retracement  is to be expected. .

Nifty had traded in a narrow range last week and a weekly breakout  would happen above  6600 and break down would take place below 6450. Bank Nifty (12072) has strong support at 11850 and resistance at 12250 for next week. IT Index(9402) has resistance at 9750 and support at 9100 for next week. But if it unable to break the resistance , the fall can be steeper and the support of 9100 too can be broken to test about 8800 levels.

Nifty continues to be above 200 DMA and 50 DMA too is above 200 DMA suggesting that the long term bullish trend is intact. Bank Nifty too exhibited strength last week and is above 200 DMA now  and can be expected to take support above 11000 even during correction. Energy major, Scrip rotation has become the order of the day. Big event of 2014 is Loksabha Elections and the outcome would dictate the future trend.  As of now, market expects NDA to return to power and carry the development agenda and stock market discounts future in advance.  Even with the recent  rise, Nifty is quoting at a PE of 18.35 , which is only 2% above the long term PE of 18. Hence, further upside (upto 7500) is possible  in case  a stable and performing Government returns to power at the centre as earnings go up over the time in an inflation ridden economy.

Further, Nifty has been trading in a range of 4600 to 6300 for more than 4 years and is due for a  powerful breakout sooner than later and breakout appears to have begun recently. Hence strong long term support would be around 6000 level.  

For Short term,  the stop loss is 6475, and for Medium term, stop loss is 6000.   For the current week, Nifty spot is expected to encounter selling pressure at higher levels and achieve a reasonable pullback , however, further rise too can be expected if last week’s move was a consolidation.

For the coming week, Nifty spot is expected to face resistance at
6585,  6655, 6740 and find support at 6420, 6335, 6260.

Nifty in short term bullishness would come out of the same if it closes below 6475, .

Advice for Traders :: Nifty traded sideways and appears to be in consolidation / distribution mode. If Nifty breaks / closes below 6475, further downside is possible. On the other hand, if it closes / trades above 6600, further upside too would be possible. In view of the last week of F&O expiry, scrip specific movement is most likely.  Expected reasonable retracement was not witnessed last week, hence retracement is due sooner than later and hence caution is advised at higher levels. While time wise correction is taking place, price wise correction is still due and could come in a hurry also.  

WD Gann’s
natural numbers which would act as natural support and resistance are
, :  ,  6124  , 6202 ,6281,6361, 6441 , 6521, 6628, 6769 during the week.

Further , Weekly Open level is very important for the entire week.
Short positions may be avoided as long as it maintains / closes above
Weekly open and vice versa

ANAND MAHINDRA & LAKSHMI MITTAL AMONG GREATEST PERSONS

Indian business honchos Anand Mahindra and Lakshmi Mittal are among the world's 50 greatest leaders, according to Fortune magazine. The list of leaders, which includes Nobel Peace Prize winner Aung San Suu Kyi, the Dalai Lama and Pope Francis, through their leadership are "energizing" their followers and making the world better, it said. "The World's 50 Greatest Leaders list out today is topped by the 77-year old Pope, who has in just over a year electrified the church and attracted legions of non-Catholic admirers by energetically setting a new direction. "In an era that feels starved for leadership, we've found men and women who will inspire you -- some famous, others little known, all of them energizing their followers and making the world better," Fortune said. The Pope, who has washed the feet of a female Muslim prisoner, created a group of eight cardinals to advise him on reform, which a church historian calls the "most important step in the history of the church for the past 10 centuries. 

On the 40th spot is Anand Mahindra, Chairman of the Mahindra and Mahindra group. "A third-generation corporate aristocrat, Mahindra has aggressively expanded the big conglomerate through acquisitions in autos, computer services, aeronautics, and more, while maintaining the company's standing as one of India's most sought-after employers. The company remains well regarded in Indian society as he has reinforced a policy of integrity in a notoriously corrupt environment," Fortune said of the 58-year old business leader. Steel magnate Lakshmi Mittal secured the 48th rank. 
The CEO of ArcelorMittal created the world's largest steelmaker by "pursuing a decades-long, impossibly audacious plan of consolidation -- working with governments, powerful labor unions, and other constituencies to rewrite the rules of the old steel industry in tough times." 
The list features Indian-origin engineer Arati Prabhakar, 55 who heads the United States Defense Advanced Research Projects Agency (DARPA). "Running the military's technology innovation lab in the middle of the austerity era is no easy task. But Prabhakar, who first led a major federal office when she was only 34 and later spent time as a venture capitalist, is meeting the challenge with an outsider's enthusiasm," Fortune said of Prabhakar, who is ranked 45th. The list includes German Chancellor Angela Merkel, Berkshire Hathaway CEO Warren Buffet, former US President Bill Clinton, Apple CEO Tim Cook, actress Angelina Jolie, Starbucks CEO Howard Schultz and girls' education activist Malala Yousafzai. 
On Suu Kyi, Fortune said the Nobel Peace Prize winner gave up freedom and a life with her family in Britain to protest military rule in Myanmar. "But nearly two decades of house arrest could not quash the opposition leader's determination. Since Suu Kyi's 2010 release, her political party has clinched dozens of seats in Parliament. Current law bars a presidential run in 2015; even that may change before long," Fortune said. In profiling the 78-year old Dalai Lama, Fortune said the spiritual leader of the Tibetan people has for over 50 years campaigned tirelessly for peace, nonviolence, democracy, and reconciliation, especially among world religions. "The Dalai Lama radiates charisma. As for his influence, just ask those who look for his guidance on Twitter. All 8.6 million of them," it said. 

NIFTY OUTLOOK FOR 24 th & REVIEW

FORENOON SUBDUED

Inputs by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

sastry.saaketa@gmail.com

09848014561

Nifty has been trading in a narrow range testing the patience of market participants and closed nearly flat but market breadth was positive. Unless Nifty closes below 6475, deeper correction can not be expected.  Nifty spot is expected to encounter resistance at 6535, 6570 and find support at 6450, 6415, 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 encounter zigzag  movements with subdued forenoon session and volatile movements towards close.

Saturday’s session is usually lackluster, barring  adjustment of opening level  to the global markets.

Nifty                               6493  +10

Review for Friday ::  Narrow Movement…  !!!

One more narrow movement day and indices close with minor gain. 32 of Nifty stocks closed in the green and broader market too was positive with Advance Decline ratio at 1.4:1. Realty, Media, Metal, Bank, Auto, IT and FMCG indices gained while Energy and Pharma indices declined.

Hindalco, Tata Steel, JP Associates, Bank of
Baroda, Wipro  stood out as major gainers among Nifty stocks while ONGC, NMDC, Reliance, Hero Motors, IDFC and NTPC remained major losers.

Metal stocks  staged a smart pullback.

 

HDIL,, Apollo Tyres, MRF, Ashok Leyland, JSW Steel,    remained major gainers among F&O stocks while HPCL, IDEA, M&M Finance, IOC, NMDC   remained losers among F&O stocks.

Live Trading Session is conducted by NSE and BSE for 90 minutes on Saturday.