NIFTY OUTLOOK FOR 27th & REVIEW

CLOSING SESSION CRUCIAL

Nifty experienced one of the huge volatile sessions and closed nearly flat amid huge selling at higher levels and short covering at lower levels. Stop loss for Nifty may be maintained at  7250 (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 at higher levels . Monday’s  trading range (being very wide), may be kept as reference for the rest of the week.

Nifty                               7359  -8

Review for Monday :: Roller Coaster Ride …Huge Selling at Higher Levels… !!!

Market gained smartly in the forenoon session and encountered huge selling in the Second half (between 2.15pm and 2.45pm) but recovered to close nearly flat for the day. However, huge selling has shattered the confidence of the traders / investors with bullish bent of mind. 32 of Nifty stocks ended in the red and broader market too was weak with Advance Decline ratio at about 1:1.8. IT and Auto indices were the lone gainers and Realty, PSU Bank, Energy, Media, Infra indices closed weak for the day. M&M, L&T, Tata Motors, contributed more than 20 points to Nifty’s gain while  Reliance, Sbi and HDFC    dragged down by about 15 points.

M&M, SSLT, HCL Tech, Wipro   remained major gainers  among Nifty stocks while DLF, BHEL, IDFC, Bank of Baroda   remained   losers.

 M&M, SAIL, Wipro, HCL Tech, SSLT     remained major  gainers  among F&O stocks while HDIL, M&M Finance, JP Power, Adani Power, IB Realestate  declined among F&O stocks.