NIFTY OUTLOOK FOR 21ST & REVIEW

CAUTION @ HIGHER LEVELS

Inputs by

Dr.Bhuvanagiri Amaranatha Sastry

Astro Technical Analyst

Saketha Consultants, Hyderabad

sastry.saaketa@gmail.com

09848014561

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

Nifty continues to close above 7200 mark but closed only with minor gain for the day.. Stop loss for Nifty may be enhanced to  7125 (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 selling pressure at higher levels , hence caution advised. Recovery after opening session is possible and could slip  thereafter.

Nifty                               7276  +12

Review for Tuesday :: Flat Close amid Zigzag Movements… !!!

Market traded in a zigzag fashion and closed flat for the day   It appears to be encountering selling pressure at higher levels. 27 of Nifty stocks gained and broader market was quite positive with Advance Decline ratio at 4:1. Media, Realty, IT, Metal, Pharma  indices gained while Energy, PSU Bank  indices declined. Infy, HDFC and ITC contributed more than 30 points to Nifty’s gain while Reliance and ONGC  dragged down by about 25 points.

SSLT, NMDC, BHEL, Tata Steel   remained major gainers  among Nifty stocks while Coal India, ONGC, Reliance, Hero Motos, Bank of Baroda   remained   losers.

 

Unitech, Tata Communication, Jain Irrigation, SSLT, HDIL     remained major  gainers  among F&O stocks while JP Power, Coal India, PFC, Voltas, ONGC  declined among F&O stocks.