NIFTY OUTLOOK FOR 5th & REVIEW

ZIGZAG MOVEMENTS

Nifty closed with minor loss but closed above 7400 mark and broader market was quite bullish indicating strong and upbeat sentiment. Further,  Nifty could face strong resistance around 7500 and get support too around 7200 mark..  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 witness zigzag movements and closing session could be crucial .

Nifty                               7402    - 14

Review for Wednesday :: Index Flat…  Broader Market Buoyant … !!!

Nifty closed with minor loss while broader market was quite buoyant with Advance Decline ratio at 3:1. Buying interest was seen in mid cap counters as they are expected to outperform large caps. 28 of Nifty stocks ended in the red. PSU Bank, Metal, Realty, Media, Auto and Infra  indices gained while IT, Energy, Pharma and FMCG indices ended in the red.   Reliance , HDFC amd ITC dragged down Nifty by more than 20 points while Hind Unilever and L&T contributed about 10 points to contain the loss.

NMDC, IDFC, Hinalco, PNB    remained major gainers  among Nifty stocks while HCL Tech, TCS, ONGC, Bharti, Kotak Bank  remained   losers.

 

IB Real estate, Crompton Greaves, Union Bank, Syndicate Bank  remained major  gainers  among F&O stocks while Shriram Transport, IDEA, HCL Tech, GMR Infra,    declined among F&O stocks.