NIFTY OUTLOOK FOR 30 & REVIEW

CONSOLIDATION MODE

Nifty closed with minor gain for the day and flat for the week. Strong support is seen around 7450 / 7400 mark. Pre budget rally can be expected from next week with out breaching the above support level. 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 consolidate before taking further directional move .

Nifty                               7508.80         +15.60

Review for Friday  ::  Oil and Gas stocks triggers Sell off  … !!!

Market traded in a zigzag manner with bullish bias and closed with a minor gain. It closed flat even for the week too. 22 of Nifty stocks closed in the green and broader market was positive with Advance Decline ratio at 1.3:1. Pharma, IT indices remained major gainers followed by Realty, FMCG and Energy. Metal, Auto, PSU Bank, Infra and Media indices declined. TCS and ITC, Infy contributed about 25 points to Nifty’s gain while ICICI Bank, M&M dragged down by about 10 points.

Tech Mahindra, TCS, Sun Pharmma, Power Grid, Cipla        remained major gainers  among Nifty stocks while Ultra Cement, Mc Dowell, BHEL, Hindalco, M&M  remained major  losers.

HDIL, Divis Lab, Mc Leod, Hexaware, CESC  remained major  gainers  among F&O stocks while Ashok Leyland, IDEA, Ultratech, Adani Enterprises, Hindalco  declined among F&O stocks. 

SENSEX  37 POINTS  UP

The BSE benchmark Sensex today snapped its two-day losing streak by jumping 37 points to end the day at 25,099.92 on fresh buying in healthcare, IT and teck sectors even as investors are now awaiting Budget for clear cues, amid uncertain geopolitical situation. The 30-share Sensex rose to 25,209.61 on initial buying. However, it declined afterwards to 25,032.94 on fag-end selling pressure on weak Asian cues. The index finally ended the day at 25,099.92, a gain of 37.25 points or 0.15 per cent. The 50-share NSE Nifty moved up by 15.60 points or 0.21 per cent to finish at 7,508.80. Brokers said RBI remark that growth recovery appeared bright also helped. The Sensex had lost 306.23 points of 1.21 per cent in the previous two days. Major gainers today were Sun Pharma (3.97 per cent), TCS (3.85 per cent), Cipla (2.59 per cent), Wipro (1.90 per cent), Dr Reddy's Lab (1.80 per cent), ITC (1.14 per cent), Bajaj Auto (1.03 per cent) and Infoys (1.02 per cent).
Hindalco dropped by 2.63 per cent, followed by BHEL 2.57 per cent, Bharti Airtel 2.08 per cent, SSLT 1.78 per cent, M&M 1.69 per cent, Coal India 1.66 per cent, Maruti Suzuki 1.52 per cent, Icici Bank 1.32 per cent, Tata Motors 1.30 per cent and Tata Steel 1.20 per cent. "Markets ended almost flat on Friday with the defensive sectors like IT and pharma gaining. For the week, markets remained in a range, ahead of the Budget and on concerns relating to monsoons. Geo-political issues also kept the sentiments weak," said Dipen Shah, Head of Private Client Group Research, Kotak Securities.
The geo-political issues globally have kept the rupee also under pressure over the past few sessions. The rupee was relatively stable at around the 60/USD mark, he added.