NIFTY OUTLOOK FOR 20th & REVIEW

ZIGZAG MOVEMENTS

Inputs by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

sastry.saaketa@gmail.com

09848014561

http://www.saaketa.com/AstroTechnicals.aspx

Nifty gained more than 9% in the last Eight trading Sessions and closed above 7200 mark for the Second day . Stop loss for Nifty may be enhanced to  7100 (on close basis). 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  encounter zigzag movements with alternate bouts of bullishness and bearishness.

Market Review for Monday, 19th May, 2014 and Outlook for 20/05//2014 :: Dr B Amaranatha Sastry, Saaketa Consultants Ltd.,

Nifty                               7263  +60

Review for Monday :: Bullish Bias.. Tech Down.. Rate Sensitives Up… !!!

Market generally traded with bullish bias and closed with a gain of more than 0.75%. 30 of Nifty stocks gained and broader market was quite positive with Advance Decline ratio at 4.5:1. Infra, PSU Bank, Realty, Metal, Energy indices gained while OT, FMCG, Pharma indices declined sharply. L&T, ONGC, Reliance and HDFC contributed more than 70 points to Nifty’s gain while ITC, Infy and TCS dragged down by about 70 points.

BHEL, Coal India, NTPC, PNB   remained major gainers  among Nifty stocks while TCS, Dr Reddy, Infy, Hind Unilever and ITC   remained  major  losers.

 

JP Power, Unitech, Rel Infra, BHEL, GMR Infra     remained major  gainers  among F&O stocks while TCS, Dr Reddy, Infy, Sun Pharma, ITC  declined among F&O stocks.

NO LOOK BACK

Equity benchmarks Sensex and Nifty ended at new peaks for the third session in a row today boosted by gains in power and capital goods shares amid continued optimism over incoming Narendra Modi-led government. The 30-scrip S&P BSE Sensex attained its new closing peak of 24,363.05, up over 241 points. The NSE's 50-issue CNX Nifty also spurted 60.55 points, or 0.84 per cent, to end at a new closing high of 7,263.55. Both indices surpassed previous closing highs hit on Friday. In three days, they have gained above 2 per cent. Stocks of power companies, led by 10.35 per cent surge in NTPC, were the star performers of the day. Bhel zoomed 16.94 per cent on signing a pact with Indonesian firm to set up a power plant. Coal India scrip galloped 12.73 per cent. Foreign investor sentiment was bullish after credit rating agency Moody's said landslide victory of BJP-led NDA in polls is credit positive for India as a stable central government is expected to address economic woes, traders say. Nineteen scrips out of the 30-share Sensex pack ended higher while 11 others finished lower. Second-tier stocks attracted heavy buying interest from retail investors and notched handsome gains. 

The BSE Smallcap and BSE Midcap indices closed up 4.19 per cent and 5.82 per cent respectively, outperforming the Sensex's 1 per cent rise. While the rising rupee cast its shadow on earnings of IT and Pharma sectors after the local currency surged to 11-month high against US dollar intra-day, rally in markets today was led by Power, Capital Goods, Realty, Metal and Oil shares. Hefty buying by Foreign Institutional Investors -the main market mover- was seen across the board. FIIs bought shares worth Rs 3,634.82 crore last Friday as per provisional data. Hopes of a stable and business-friendly government that will put growth back on track and kick-start reforms, is driving markets higher, brokers said. Besides, a clutch of foreign brokerages like Nomura and Goldman Sachs have upgraded Sensex/Nifty targets, they added.