NIFTY OUTLOOK FOR 7th & REVIEW

CLOSING 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 closed with minor gain for the day  and closed above  6700 mark after Three days.  Short term trend continues to remain negative and close above 6750 would make it neutral with positive bias. 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 subdued during midsession and  recover in the closing session. Further, a wide range day is possible in view of the narrowness of the past couple of days.

Nifty                               6716  +16

Review for Tuesday : Narrow Movement with Bullish Bias …  !!!

Nifty closed with minor bullish bias. Energy, FMCG, Auto, Metal, Infra  indices declined while Media, IT, Realty indices gained. 26 of Nifty stocks closed in the green  and  broader market too  was positive   with Advance Decline ratio at about 1.2:1. ICICI Bank, Reliance, ITC  contributed about 20 points to Nifty’s gain while  HDFC, Bharti and Axis Bank dragged down  by about120 points..

 Indusind Bank, ICICI Bank, Reliance, ITC, Tata Motors      gained  among Nifty stocks while Power Grid, Ambuja Cement, Bharti, Tata Power, Wipro   remained losers.

Just Dial, Titan, Adani Ports, PFC   remained major  gainers  among F&O stocks while Canara Bank, Exide, Power Grid, IOB, Bharti declined among F&O stocks. 

SENSEX GAINS ANOTHER 69 POINTS

The BSE benchmark Sensex today posted a 63-point gain to end the day at more than one-week high of 22,508.42 on buying support in consumer durables, refinery, capital goods and banking shares.
The Sensex opened on a strong note and moved further up to 22,602.71. However, it struggled to maintain the gain amid choppy trade. After alternate bouts of buying and selling, the key index managed to settle the day at 22,508.42, 63.30 points or 0.28 per cent higher than its previous close. The previous time the Sensex closed at this level was on April 28 when it ended the day at 22,631.61. The NSE's 50-share Nifty also moved up by 15.95 points to 6,715.30. "To start with, sentiments remained upbeat on PMEAC Chairman C Rangarajan's statement that with gold imports slowing down and inflation levels showing signs of decline, current account deficit is expected to be around 2 per cent of the GDP in the coming few years," said Jayant Manglik, President, Retail Distribution, Religare Securities. Capital inflows and appreciating rupee also steadied the sentiment, he added.
FIIs bought shares worth a net Rs 279.86 crore yesterday, as per provisional data of exchanges. Major gainers were Reliance Industries 1.91 per cent, ICICI Bank 1.63 per cent, Larsen 1.24 per cent, ITC 1.06 per cent, Tata Motors 0.98 per cent, Tata Steel 0.89 per cent, M&M 0.55 per cent and Dr Reddy's Lab 0.54 per cent.
Bharti Airtel dropped 1.71 per cent, Tata Power 1.27 per cent, Wipro 1.19 per cent, HDFC 1.12 per cent, Hero Moto 0.98 per cent, Axis Bank 0.96 per cent and Bajaj Auto 0.85 per cent.
Among BSE sectoral indices, consumer durables rose by 3.22 per cent, Oil&Gas 1.10 per cent, consumer good 0.99 per cent, bankex 0.54 per cent and FMCG 0.46 per cent.