Friday, August 1, 2014

NIFTY OUTLOOK FOR 4 & REVIEW

ZIGZAG MOVEMENTS

Nifty fell sharply in the Second half and lost more than 100 points  and closed the week with a loss of about 2.50%. FIIs seem to have turned sellers and short term peak appears to be in place. “Sell on Rise “ could be a better policy. Nifty spot is expected to encounter resistance at 7645, 7685 and find support at 7565, 7530 for Monday.  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 volatile / zigzag movements without clear direction.

Nifty                               7603     -118
 
Review for Friday :: Huge Selling in Second Half … !!!
Market opened sharply lower following global cues and covered the downside gap by noon and fell sharply thereafter to close with a huge loss of about 1.50%. Barring PSU Bank, all other  sectoral indices led by Energy, Metal, Pharma, IT indices. 40 of Nifty stocks ended in the red but broader market was relatively better with Advance Decline ratio of 1:2. Reliance, ITC, HDFC and HDFC Bank dragged down Nifty by more than 50 points.
Bank of Baroda, MAruti, DLF, Ultra Cement, Bharti   remained gainers among Nifty stocks while Hindalco, Cipla, Reliance, Sun Pharma   remained  losers.
GMR Infra, Glenmark, Union Bank, M&M Finance    remained major gainers  among F&O stocks while Titan, Sun TV, Jubilant Food, IFCI and Apollo Tyres   declined  among F&O stocks.

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