NIFTY OUTLOOK & 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 for the Third day in succession. Short term trend continues to remain negative and close above 6800 would make it neutral. However, there is strong support too around 6650 for Nifty. 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 for most part of the day. However, Low level of first 30 minutes / Low level of Tuesday may be kept as reference for any intraday long positions.

Nifty                               6715  -46

Review for Tuesday :: All round Bearishness…  !!!

Market opened lower and fell sharply in the opening session and recovered thereafter partially to give up most of the gains to close with a loss of more than 0.60%. All sectoral indices closed in the red  led by Metal, PSU Bank, Media, Auto and FMCG. 35 of Nifty stocks closed in the red   and broader market  too was quite negative  with Advance Decline ratio at about 1:1.8. Hind Unilever, HDFC Bank, ICICI Bank, SBI  dragged down by more than 20 points..

Ambuja Cement, Grasim, BPCL, ACC, Tech Mahindra      gained  among Nifty stocks while Jindal Steel, Tata Steel, Hind Unilever, Tata Power, Hindalco   remained major losers.

 

Jain Irrigation, IRB, Petronet, Rel Infra, Ambuja Cement   remained major  gainers  among F&O stocks while Hexaware, Jindal Steel, Tata Steel, JSW Steel, Voltas  declined among F&O stocks.