NIFTY OUTLOOK FOR 15th & REVIEW

MID SESSION BETTER

Dr. Bhuvanagiri Amaranatha Sastry

Nifty closed flat for the day after Three days’ of steep rise Stop loss for Nifty may be enhanced to 7000 (on close basis). Being penultimate day before Poll results, cautious optimism could prevail.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 attract profit booking during closing.

Review for Wednesday, 14th May, 2014 :: Pause… Pause… Pause… !!!

Nifty traded in a narrow range and closed flat for the day. 30 of Nifty stocks gained and  broader market  was more positive with  Advance Decline ratio at about 2:1.  ITC, Tata Steel, Bank of Baroda  contributed more than 15 points to Nifty’s gain while GDFC, Reliance dragged down with equal force. Realty, Metal, PSU Bank, FMCG indices gained while Energy, Pharma, Auto and IT indices declined. .

Bank of Baroda, Jindal Steel, Tata Steel, DLF   remained major gainers  among Nifty stocks while M&M, Dr Reddy, HDFC, Reliance, HDFC Bank   remained   losers.

 

Canara Bank, Bank of Baroda, Union Bank, Unitech, IOB     remained major  gainers  among F&O stocks while Dr Reddy’s Lab, M&M, Adani Ports, HDFC, Bank of India declined among F&O stocks.