NIFTY OUTLOOK FOR 11th & REVIEW

OPENING SESSION CRUCIAL

Nifty closed flat amid zigzag movements and IT stocks salvaged the day for Nifty. Stop loss for Nifty futures may be enhanced to 7500 (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 experience zigzag movements with subdued opening session and recovery thereafter and volatile  movements towards close.

Nifty                               7656    +1

Review for Tuesday  Smart Recovery from Lower Levels as IT sector shines … !!!

Market experienced considerable selling pressure in the opening hour but recovered slowly to close nearer to the higher end of the day. 20 of Nifty stocks closed in the green and broader market was marginally positive with Advance Decline ratio at 1.1:1. IT, Pharma, FMCG, Auto indices gained while Realty, PSU Bank, Media, Metal, Energy, Infra indices declined.  Infy, HDFC, TCS contributed  more than  25 points to Nifty’s gain while ONGC, ICICI Bank, SBI dragged down by about 15 points.

Infy, Tech Mahindra, Wipro, Cipla, Cairn and TCS     remained major gainers  among Nifty stocks while DLF, Grasim, Ambuja Cement, BHEL, Tata Steel  remained   losers.

  

Dish TV, Apollo Hospital, Aurobindo, Titan  remained major  gainers  among F&O stocks while M&M Finance, IB Real estate, Union Bank, PFC    declined among F&O stocks.