NIFTY OUTLOOK FOR 7th & REVIEW

RUN TOWARDS ALL TIME HIGH

Nifty gained further to close  above 6400, all time high close and set to cross intra day high also to catch up with Sensex. Stop loss for Nifty long positions may be trailed to 6275. Nifty spot is expected to encounter resistance at 6440, 6475 and find support at 6360, 6325, for Friday. 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 forenoon and could encounter profit booking towards close.

Nifty                               6401  +72

Review for Thursday ::  

Sensex Hits All time HIGH .... !!

Market opened better and rallied further to closed with a gain of more than 1% and in the process Sensex hits all time high to record 21525. Lower Current Account Deficit (CAD) improved the sentiment, Barring Pharma index, all other indices ended higher led by Realty, Metal, Energy, Infra, Bank Nifty, Auto. 41 of Nifty stocks gained and broader market too was positive with Advance Decline ratio at 1.8 : 1. JP Associates, DLF, BPCL, Hindalco, BHEL, stood out as major gainers while Cipla, Wipro, Lupin, Tata Motors, Sun Pharma remained losers among Nifty stocks.

  

Reliance Infra, JP Asociates, HDIL, DLF, M&M Finance  remained major gainers among F&O stocks while GMR Infra, GSK Consumer, Apollo Hospital, Aditya Birla and Cipla  remained losers among F&O stocks.