NIFTY OUTLOOK FOR 01 & REVIEW

MID SESSION SUBDUED

Nifty                               7965  +6

While Nifty closed flat for the day. It  traded in a zigzag manner breaching Monday’s Low and high level. Weak sectors such as Realty, Infra and PSU Bank closed further weak  Broader market too was weak with negative Advance Decline ratio.  Nifty spot is expected to encounter resistance at 8005,, 8040 and find support at 7925, 7890 for Wednesday. While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to trade in a zigzag manner with subdued midsession. As market reopens only on 7^th October after a holiday of 5 days, unwinding of short term positions / profit booking could be witnessed.

FOCUS ON LIG/EWS

Real estate developers should focus on addressing the housing demand of lower income group and economically weaker section, a senior government official said today. Addressing a real estate conference here, Ministry of Housing & Urban Poverty Alleviation Joint Secretary Karan Bir Singh Sidhu said that there is shortage of about 2 crore houses in the country, of which maximum exists for the EWS/LIG section of society. "Organised real estate must address the demand of LIG and EWS," he said at a conference organised by the Indian Chamber of Commerce. He asked the developers to move on from a low volume-high margin business to low margin-larger volume business. Noting that supply is more in the middle income and luxury segment, Sidhu said the private sector also has an important role to play in providing homes to LIG/EWS section. Speaking on the occasion, the apex realtors' body Credai Chairman Lalit Kumar Jain demanded online approval of realty projects to create housing supply and bring down prices. He also mentioned that the sentiments have improved in the sector but ground realities have not changed. "It takes upto 2-3 years to take environmental and aviation clearance for developing real estate projects," Jain said. Realty firm SARE Homes MD Vineet Relia stressed on the need for ease of doing business and ease of financing for the long-term growth of the real estate sector. Industry is facing a huge slowdown in demand due to high interest rate regime and costlier homes resulting into severe liquidity crunch.

NIFTY OUTLOOK FOR 30 & REVIEW

RBI POLICY HOLDS KEY

Nifty                               7959  -10

Nifty traded in a narrow range and closed marginally in the negative. However, broader market appeared positive with Advance Decline ratio at 1:0.6. RBI Policy would set the tone of the market and Monday’s market appeared like a “Calm before Storm”.  Nifty spot is expected to encounter resistance at 8000,, 8040 and find support at 7920, 7880 for Tuesday. While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to trade in a zigzag manner and would be guided by RBI Policy.better Second half.  

SENSEX FELL BY 29 Pts AHEAD RBI POLICY

The benchmark Sensex today fell about 29 points to end at 26,597.11 on weakness in interest rate sensitive banking and auto shares ahead of RBI's monetary policy review. The BSE 30-share index today resumed better and gyrated in and out of positive terrain in a range of 26,715.77 and 26,518.01, before concluding at 26.597.11 -- a minor fall of 29.21 points or 0.11 per cent. Last Friday, it had risen by 157.96 points or 0.60 per cent helped by S&P's rating upgrade. The 50-issue CNX Nifty of the NSE also eased by 9.95 points, or 0.12 per cent, to 7,958.90. "Buying was seen prominently in IT and Pharma stocks. On the other hand, selling in sectors such as Metal and FMCG limited the upside. Positive GDP data from US boosted market sentiment, while indecision was seen ahead of RBI monetary policy scheduled tomorrow," said Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio. Shares of IT majors TCS, Infosys and Wipro notched up 1-3 per cent gains tracking weakness in rupee against US dollar and strong US economic data that boosts prospects of their biggest market. Fall in the ITC, ICICI Bank, HDFC Bank, HDFC, ONGC, Sesa Sterlite, Tata Steel, Bajaj Auto, Hero MotoCorp and Coal India mainly weighed on the market sentiment. According to market participants, a near term major event is a monetary policy to be announced by the Reserve Bank of India (RBI) and Prime Minister Narendra Modi's meeting with US President Barack Obama.

 

 

WEEKLY ASTRO GUIDE FOR NIFTY

RBI POLICY DECIDING FACTOR

Planetary Position ::  

During the current week

Moon would be transiting  from Anuradha in Scorpio  to Moola  in Sagittarius.

Sun transits in Hastha  in Virgo .

Mercury transits  in Swathi   in  Libra.

Venus transits in Uttara in  Virgo.

Mars  transits in   Anuradha  and Jyeshta constellations in Scorpio .  

Saturn transits in Visakha constellation in Libra and in Taurus Navamsa .  

Jupiter transits in Aslesha constellation in Cancer and in Capricorn navamsa ..

Mars trine Jupiter and Uranus during the week denotes bountiful activity in markets. Nifty could not breach the higher end of monthly astro range of 8180.

Nifty Outlook for Next Week :: (29.09.2014 to 01.10.2014)

 NIFTY :: 7969 (-160) (Further Bearishness for Nifty only below 7800….)

Nifty snapped Six week winning streak and fell nearly 2% in view of the Supreme Court verdict on Coal allocation issue but heaved a sigh of relief in the closing hour due to S&P news on credit outlook. However, SC’s verdict had taken a heavy toll of the market particularly metal and PSU Banks. Defensives like IT, Pharma and FMCG bucked the trend and remained resilient. Next week movement would be influenced by the outcome of PM’s US Visit. Further, RBI’s policy on Tues day would be the deciding factor for the market. If RBI Governor can bring out a positive surprise to the market , it could bounce back sharply. Otherwise, correction can be expected to continue. continued its gains for the Sixth week , though gained marginally.

Nifty moved in a narrow range during September and  appears to have taken support once again close to 50 DMA. IF Friday’s low level is not decisively breached, upside is possible. On the other hand, if it breaches 7825 decisively, Nifty could get into a bigger correction. Nifty needs to go above 8050 to get out of the present correction mode. Further, last week’s down move was a strong down move with Nifty breaching previous day’s low level on all the Five days which was a clear case of bearishness. Nifty needs to clearly trade above 8050 to negate the fall / down move.

While Nifty witnessed a fall of 2% on net basis, several mid cap stocks suffered a loss of even more than 10 - 20% in PSU Banks, Infra, Realty stocks.

If Nifty is to remain bullish for October, it needs to take support above 7800, failing which a deeper correction is possible.

Highly positive macro indicator is the falling crude oil prices and falling gold imports which would positively impact Current Account Deficit.

PSU Banks need to come out of the NPA problem which could take further time in view of the gravity of the problem. Recent Supreme Court verdict on Coal allocation has increased the woes of PSU Banks.  IT Sector is buoyant and further buoyancy too can be expected in view of strengthening US  economy. Infra and Power sector woes can be expected to be addressed by the present Government

Macro  economic indicators have turned positive in view of the falling crude oil prices and the heartening feature is that Oil marketing companies are making profit on diesel sale too.   If inflation too eases leading to reduction of interest  rates, economic revival would kick in leading to earnings growth and higher PE too. With a proactive and  committed Government at the centre, it would happen sooner than later. However, a reasonable correction  could take place before another leg of upmove. On the other hand, if market remains sideways for a considerable period also, it could be  taken as a correction. Stocks which have run up ahead of fundamentals are seen correcting. Most PSU stocks and Infra stocks corrected sharply during the last Two months. 

Technically, Nifty is bullish in all most frames and very short term trend would become positive when it closes above 8050.

20DMA, 50DMA, 100DMA and 200 DMA are placed at about 8060, 7885, 7670 and 7010 respectively and would act as supports / resistances. Nifty has taken support from about 50 DMA last Four times and could be expected to lend

strong support and a deeper correction could set in only if it closes and trades  below 50 DMA(7885) consistently (for more than a week).

Based on the present Government’s agenda, Infra  and Power sectors could come out of their problems soon . Stocks of promoters with proven record may be preferred in these sectors. Investors need to accumulate quality stocks while traders need to be ever vigilant.

Nifty continues to be above 200 DMA and 50 DMA too is above 200 DMA (Golden Cross) suggesting that the long term bullish trend is intact.   Nifty is quoting at a PE of under 21, which is about 18% above the  long term PE multiple.  Hence, further upside (  8500+ is possible during the year / before next Budget)  

in view of the  stable and performing Government  at the centre as earnings would go up because of favourable atmosphere .  IF Nifty stays around the present level for the next Six months, trailing PE could come down to less than 20 also.

 Market is usually ahead of fundamentals and fundamentals need to catch up with the present valuations which could take some time .

For Bank Nifty, strong Resistance exists around 15900 / 16000. If unable to pierce these levels, it could seek lower levels.

IT Index is trading in a narrow range of 250 points (11000 and 11250) and a directional move can be expected on breakout / break down.

Technical Levels ::

For the coming week, Nifty spot is expected to face

resistance at 8050,  8140, 8230 and find support at 7875, 7785, 7700.

Minor resistances may be found at 8065, 8140, 8190, 8205  and minor supports at 7870, 7795, 7750 and 7675.

For short term Nifty is bearish  with strong support at 7800 and would become bullish on a close above 8050  .

Advice for Traders ::

After Two narrow range weeks, Nifty broke down and appears to have support from about 50 DMA for the Fourth time.  Strong support for Nifty for October is at 7800 and if Nifty does not go below 7800 decisively, a new high  can be expected on the eve of Diwali. However, it needs to close above 8050 to reverse the present short term bearishness. Short positions too can be considered on rise with a strict stop loss of 8050 (on close basis) for a target of about 7850 (as there is a strong support at 7800 ).  In view of the truncated week, it could remain hyper  active too in view of the developments that can take place in view of PM’s visit to US  and RBI Policy.

RBI Policy would decide the course of the market for the week and for the month too.

BSE TO CLOCK 20 MICRO SECONDS SPEED

Having begun with a humble background of functioning under banyan trees, India's leading bourse BSE is now eyeing a slot among the world's most technologically advanced exchanges and is targeting ten-times faster trades on its platform within three years. Already, the exchange has made significant changes in its technology and has attained a response time of 200 micro- seconds for trades executed on its platform, BSE CEO Ashish Chauhan said. The aim is to bring the response time further down to 20 micro-seconds within the next three years, Chauhan told PTI in an interview here. Chauhan is here to participate in a number of business meetings planned in the wake of Prime Minister Narendra Modi's five-day visit to the US from September 26-30. "Today 200 micro-seconds of response time puts us in top 5-10 per cent of the exchanges of the world in terms of the ability to give he response time. It is not only about the speed but also about scalability that is the ability to take order, he said. "Today we are able to handle 500,000 orders in a second at the response time of 200 micro seconds. If you are able to take large orders, your response time should not suffer," he said, while adding that proper safeguards are also in place to guard against any risks attached with high-speed trading. Chauhan said: "We have also implemented a framework that ensures that this is lowest cost, but highest in terms of technology. We have used open source software. We have utilised the technology prowess of India to ensure that we are able to get more from the same hardware. "We also implemented in April 2014 the new technology we had acquired from Deutsche Boerse and in 5-6 months that it has been in practice our number of orders per day has gone up already three times. Earlier it was 12-15 crore orders on best of the days, and today we are recording 40-45 crore orders a day on a regular basis." BSE has come a long way in the last 6 months, but it still has a long way to go, he added. "We must strive, like our regulators, to be at the forefront. At the same time, the potential risks are taken care of. We have put in a system to calculate the value at risk for all our investors on a real time basis, Chauhan said. "There are more than 2.6 crore investors registered on BSE and anytime they trade our computers calculate the portfolio and the value at risk on a one-day basis, that is how much money they can potentially lose, and that is converted into margin call and only if there is enough margin, the investor and the broker would be allowed to do that trade," he added.

The BSE chief said that Indian capital market was among the most sophisticated ones when it comes to transaction processing. "After we became automated in 1994-1995, we (India) were at the forefront but then somehow we lost out to some other markets. We are again back in the reckoning with the BSE implementing this new technology. "Today we are at 200 micro-seconds and within three years time, we should be in the 20 micro-seconds range. That would put us in top one per cent of the exchanges across the world when it comes to speed and the scalability," he added.

MARKET TURNOVER @ RECORD HIGH

The Indian capital markets' turnover today rose to record high level of about Rs 8.2 lakh crore, amid monthly expiry of derivative contracts. BSE recorded total daily turnover of Rs 2,93,526.31 crore, while that at NSE rose to Rs 5,32,612 crore -- taking the combined total for the entire Indian capital markets to Rs 8,26,138.31 crore. The National Stock Exchange (NSE) said its total futures and options (F&O) turnover scaled a record high of Rs 5,32,612 crore today, surpassing the previous high of Rs 441,534.45 crore that it had touched on July 10, 2014. Nearly 1.36 crore derivative contracts were traded on the National Stock Exchange (NSE) amounting to a F&0 turnover of Rs 5.32 lakh crore, record high for a day, the bourse said. Index options touched a record high of Rs 410,992.69 crore as a part of the total derivative turnover on NSE today. On July 10, index options turnover had touched a high of Rs 3.32 lakh crore. The total turnover at BSE rose to Rs 2,93,526.31 crore at the end of trade up from Rs 2,24,870.16 crore yesterday. In the equity market, the BSE benchmark Sensex as well as NSE's Nifty closed with sharp losses. Meanwhile, NSE also that the total Bank Nifty turnover touched Rs 65,470 crore, while the turnover for Bank Nifty Options hit a record of Rs 55,250 crore. Bank Nifty turnover is a subset of total equity derivative turnover on the exchange.

NIFTY OUTLOOK FOR 29 & REVIEW

SECOND HALF BETTER

Nifty                               7969  +57

S&P improved India’s credit outlook and market gained smartly towards close  after breaching Thursday’s low levels and gained more than 0.75% for the day. October Derivative series commenced on a zigzag note with bullish bias. Nifty is back in the trading range having closed above 7950.   Nifty spot is expected to encounter resistance at 8010,, 8045 and find support at 7930, 7895 for Monday. While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to trade in a zigzag manner with better Second half.

MARKET RECOVERS

The BSE benchmark Sensex today recovered from its six-week low level to close 158 points higher, ending three days of losing string, after S&P's upgraded India's outlook to stable from negative. In a highly volatile trade, the 30-share index resumed lower and gradually moved downwards to a six-week intra-day low of 26,220.49, a net fall of almost 248 points following weak Asian cues and sustained offloading by foreign funds. Brokers said Standard & Poor's (S&P's) upgrading the country's outlook helped the Sensex bounce back. The barometer finally settled at 26,626.32, a rise of 157.96 points, or 0.60 per cent, from its previous close. In the last three days, it had tanked by 738.38 points or 2.71 per cent. The index, however, ended the week lower by 464.1 points. The broad-based NSE index Nifty closed 57 points, or 0.72 per cent higher at 7,968.85. International credit rating agency, Standard & Poors (S&P) today upgraded country's credit rating outlook to stable from negative following positive macro economic data, revival of growth and Centre's capacity to push reforms, putting the country back on high growth trajectory. "Markets remained volatile today but bounced back at the end of trading session as S&P's upgraded the outlook on the India's credit. The correction provides investor with an opportunity to buy quality stocks," Sanjeev Zarbade, VP, Private Client Group Research, Kotak Securities, said.
While as many as 19 stocks ended with gains led by Hindalco (up 5.25 per cent), Sun Pharma (4.30 per cent) and Mahindra & Mahindra (3.16 per cent), Dr Reddy's, HDFC and HeroMoto Corp remained major losers. "This week has been quite volatile... weak global cues, profit booking Supreme Court's decision on coal blocks led to indecision and selling pressure at higher levels," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio.

NIFTY OUTLOOK FOR 26 & REVIEW

MIDSESSION SUBDUED/RECOVERY @ END

Nifty                               7912   -90

Nifty opened steady and traded in negative zone through out the day and closed with a loss of more than 1% and closed at the lowest level for the month. Supreme Court verdict on Coal allocation appears to have had its effect for the Second day with Metal, Power  and PSU Bank stocks taking a heavy toll. While Nifty broke the trading range and closed below the 7950 mark, it needs to close below this mark for One more day to confirm bearish direction.   Nifty spot is expected to encounter resistance at 7960,, 8000 and find support at 7870, 7835 for Friday. While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to trade in a zigzag manner with subdued midsession and recovery towards close.

COAL BLOCKS DEALLOCATION CRUMBLES MARKET

Slumping for third straight day, the Sensex dropped 276 points and Nifty fell over 90 points to end at one-month lows today as metal, power and banking bluechips crumbled due to coal mines deallocation while the oil and gas sector was hit by selling on deferment of a hike in gas price. Investor confidence appeared to plummet as heavy selling was seen mostly across-the-board. Not just blue-chips, two-tier counters too bore the brunt of a heavy sell-off, said traders. Realty, capital goods, auto and consumer durable shares were also at the receiving end, they added. Besides, caution prevailed on the last day of September derivative contracts that also influenced market sentiments. The benchmark S&P BSE 30-share Sensex initially touched a high of 26,814.20 on the back of firm Asian cues prompted by strong closing on Wall Street yesterday after robust US housing data for August. Later, however, emergence of selling pulled it down to a low of 26,349.55 before recovering some ground and concluding at one-month low of 26,468.36, a fall of 276.33 points or 1.03 per cent. In straight three days, it has plunged by 738.38 points or 2.71 per cent. Pramit Brahmbhatt, Veracity Group CEO said, "For the third session in row, local indices fell. ONGC and RIL lost over 3 per cent each as government deferred decision on gas price hike. Indices are heading towards to post its first weekly fall in seven weeks." As many as 23 Sensex stocks closed with losses led by Axis Bank, SBI, Hindalco, BHEL and ICICI Bank. However, TCS, Dr Reddys and GAIL closed higher among seven Sensex gainers. Similarly, the wide-based 50-issue CNX Nifty of the NSE also settled sharply down by 90.55 points at its one-month low of 7,911.85. It has logged an intra-day low of 7,877.35. Metal stocks such as Jindal Steel and Power, Tata Steel, Hindalco, Bhushan Steel, Usha Martin, Monnet Ispat remained under pressure due to Supreme Court cancelling 214 mines. "We believe that the coal block cancellation could adversely impact India's nascent economic recovery...The impact will be felt across various channels and lead to a rise in non-performing assets of banking sector, an increase in the cost of coal and in turn a rise in power tariffs...," said India Ratings & Research. Mixed Asian as well as European markets amid selling by foreign funds for the second day in a row also weighed on the sentiment. Liquidity flow from FIIs seems to be slowing down as FPIs/FIIs yesterday sold shares worth Rs 793.65 crore. 

INDIA MAKES HISTORY

MARS ORBITOR SUCCESS

Scripting space history, India today successfully placed its low-cost Mars spacecraft in orbit around the red planet in its very first attempt, breaking into an elite club of three nations. The Mars Orbiter Mission (MOM) spacecraft kept its tryst with the red planet after the hibernating main 440 Newton Liquid Apogee Motor (LAM) and eight thrusters on board were ignited for 24-minutes from 7.17 am that slowed its benumbing speed to be smoothly captured into the Martian orbit. The make-or-break tricky manoeuvre carried out with clockwork precision on the refrigerator sized spacecraft as planned was watched by Prime Minister Narendra Modi, who exultantly described it as "a historic occasion", saying the country has achieved the "near impossible". "Today MOM has met Mangal (Mars). Today Mangal has got MOM. The time this mission was short named as MOM, I was sure that MOM won't disappoint us," Modi said, declaring the mission's success after nerve-wracking final moments at Indian Space Research Organisation's command centre here. The speed of the spacecraft was reduced from 22.14 km per second to 4.4 km per second at the ultimate point in its 666 million-km-long travel in relation to the red planet to be captured by the Martian orbit. "Images are clicked. Data is downloaded. Process is going on," a top ISRO official said in the evening when asked whether the spacecraft has taken pictures of the Mars surface. 

The Rs 450-crore MOM Mangalyaan is the cheapest inter- planetary mission that, at just USD 74 million, costs less than the estimated USD 100 million budget of the sci-fi blockbuster "Gravity" and a tenth of NASA's Mars mission Maven that entered the Martian orbit on September 22. Scientists broke into wild cheers and congratulated each other after the 1,350 kg spacecraft was manoeuvred into its designated place, a feat that makes India the first country to go to Mars in the very first try. European, American and Russian probes have managed to orbit or land on the planet, but after several attempts. The first Chinese Mars mission, called Yinghuo-1, failed in 2011. In 1998, the Japanese mission ran out of fuel and was lost.
Modi, who wore a red jacket, said the odds were stacked against "us with only 21 of the 51 missions to Mars being successful," but "we have prevailed". "We have gone beyond the boundaries of human enterprise and innovation.
"We have navigated our craft through a route known to very few," Modi said in a speech in Hindi and English, after patting the back of ISRO Chairman K Radhakrishnan and effusively praising ISRO for making space history.

MOM aims to study Mars' surface and mineral composition, and scan its atmosphere for methane, an indicator of life in Mars. Given the high rate of failures -- only 21 of the total of 51 missions sent to Mars by various countries being successful, the MOM feat has given a boost to India's global standing in space, even as it beat its Asian space rivals, Japan and China. With the success of 'Mangalyaan', India also becomes the first Asian country to have sent a mission to the red planet. Mars Orbiter Insertion was carried out automatically by commands loaded onto the spacecraft. The spacecraft had entered the Martian neighbourhood on Monday. At the time of MOM's orbital insertion, its signals took about 12 minutes and 28 seconds to reach Earth where it was received by NASA's Deep Space Network Stations in Canberra and Goldstone which relayed the data in real time to ISRO's station in Bangalore. The first sign of success on the very last leg came when ISRO announced that the burn of engines on India's Mars orbiter had been confirmed. "All engines of Mars orbiter are going strong. Burn confirmed," ISRO said as it signalled history in the making. Igniting the main engine was critical as it had been lying dormant for about 300 days and was only woken up briefly for four seconds on Monday. A failure could have pushed the Orbiter into the deep depths of space. Much of the spacecraft's manoeuvre took place behind Mars as seen from Earth. That means that from a point four minutes into the burn being employed till three minutes after the scheduled end of the manoeuvre, teams on Earth had no view of the spacecraft's progress. The Orbiter will keep moving in an elliptical path for at least six months with its instruments sending their gleanings back home.
The 1,350 kg spacecraft is equipped with five instruments, including a sensor to track methane or marsh gas, a colour camera and a thermal imaging spectrometer to map the surface and mineral wealth of the red planet. The spacecraft was launched on its nine-month-long odyssey on a homegrown PSLV rocket from Sriharikota in Andhra Pradesh on November 5 last year. It had escaped the earth's gravitational field on December 1.

SOCIAL MEDIA HOT TOPIC

India's maiden feat of placing its low-cost Mars spacecraft in orbit around the Red Planet in the first attempt today was a hot topic of discussion on social media platforms.
Social networking giant Facebook said the top post on both the ISRO and Mars Orbiter Mission Page reached over 1 million in the first 2 hours and received over 147,000 likes, comments and shares.
On the micro-blogging site Twitter, ISRO's Mars Orbitter twitter handel (@MarsOrbiter) gained more than 55,000 followers within hours.
India today created space history with the success of "Mangalyaan", as it became the first country to go to Mars in the very first try. European, American and Russian probes have managed to orbit or land on the planet, but after several attempts.
At USD 74 million (about Rs 450 crore), India's Mars Orbiter Mission (MOM) is the cheapest inter-planetary mission, costing a tenth of NASA's Mars mission Maven that entered the Martian orbit on September 22.
Facebook in a statement said: "As Mangalyaan attempted to drop into orbit around Mars, a great number of Facebook users eagerly followed ISRO's progress and celebrated the success online."
The Facebook page - ISRO's Mars Orbiter Mission, has 454,541 likes and Page fans for the ISRO's Mars Orbiter Mission Page increased from 337,000 on September 14, to nearly 454,000 on September 23, it added.
"Page fans for the ISRO Page increased from 130,000 fans on September 14 to 574,000 on September 23. The top post on both the ISRO and Mars Orbiter Mission Page reached over 1 million people in the first 2 hours and received over 147K likes, comments and shares," Facebook said.
Twitter said in a year full of nation-building moments, India celebrates another one, this time from space.
"@ISRO's Mars Mission @MarsOrbiter entered the Martian orbit this morning, and moments later, also made its Twitter debut. It sent its first Tweet at 8:14 AM, immediately after the mission was declared a success by @ISRO," it added.
Twitter further said: "@MarsOrbiter immediately became a runaway hit, gaining over 55,000 followers within hours. In a tone that was at once funny and conversational, the @MarsOrbiter exhibited personality & verve."
The micro-blogging site said the interaction between NASA and ISRO was retweeted more than 15,000 times.
"But it was this #OnlyOnTwitter exchange between @MarsCuriosity and @MarsOrbiter that was an interstellar hit with over 15,000 retweets between them!," it added.

OIL @ 96 $

Oil prices fell in Asia today following the return of disrupted Libyan production into an already well-stocked global market and as dealers await the latest US inventory report, analysts said. US benchmark West Texas Intermediate for November delivery eased one cent to USD 91.55 while Brent crude for November fell 32 cents to USD 96.53 in late-morning trade. Prices had headed upwards this week after an upbeat manufacturing gauge from China and news that US-led forces had started targeting jihadist militants in crude producer Syria. However, on Singapore's United Overseas Bank said the restarting of production in Libya's biggest oil field "added to oversupply woes in a flush market". Production at Sharara, Libya's largest oil field, restarted Monday after its closure last week, the Wall Street Journal reported. The 340,000 barrels-per-day capacity Sharara field was shut last week due to intense fighting near the vicinity of the export terminal and refinery linked to it. The week-long disruption put a pause to returning supplies in Libya, a member of the OPEC cartel, after a nearly year-long blockade by rebels of oil terminals. The country remains mired in political turmoil due to inter-militia fighting. A Libyan government spokesman on September 11 said the North African state expects production to reach 1.5 million barrels per day from more than 700,000 barrels currently. Dealers are awaiting the latest US crude stockpiles report to be released later today for clues about demand in the world's top crude consumer. Crude reserves are expected to have risen by 500,000 barrels on average in the week to September 19, according to analysts polled by the Wall Street Journal. Gasoline stockpiles are expected to fall by 200,000 barrels, while stocks of distillates, which include heating oil and diesel, are expected to rise by 300,000.

NIFTY OUTLOOK FOR 24 & REVIEW

MID SESSION BULLISH

Nifty                               8018    -128

Nifty opened steady and fell sharply in the afternoon session to close with a huge loss and nearer to 8000 mark. One more day’s weakness would make the market weak for short term. However, Nifty has been moving in a narrow range for the month and the present contraction would lead to inevitable expansion sooner than later. With Tuesday’s loss, Nifty is close to the lower end and unless Nifty closes above 8100, bearish bias would continue.  Nifty spot is expected to encounter resistance at 8060,, 8095 and find support at 7965, 7930 for Wednesday. While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to be better in general for most part of the day after the opening session and could witness selling pressure towards close.

SELL OFF IN GLOBAL MARKET TRIGGERED BIG LOSS

Indian markets today suffered a big jolt with Sensex crashing 431 points and Nifty plunging 129 points in their worst drop in two-and-a-half months following a sell-off in overseas markets on concerns over global growth. Slower foreign fund inflow and profit-booking after recent bull run ahead of the expiry of September derivative contracts on Thursday also weighed on domestic sentiments. Over 2,100 stocks listed on the BSE fell today, wiping out more than Rs 1.63 lakh crore in investor wealth. Selling was seen across-the-board as all 12 sectoral indices closed in the red logging losses between 0.38 per cent and 4.91 per cent. Realty, oil & gas, capital goods, metal and pharma segments led the downslide. On the global front, data spooked investors after data showed Eurozone's private sector activity slowed again this month. This sent major European markets on a downward spiral. In Asia, indices closed mixed with a downward bias after a survey in China showed factory employment slumped to a 5-1/2-year low even as manufacturing grew more thane expectations in September. Back home, the BSE 30-share barometer, after few minutes intro trading touched a high of 27,256.87 but fell soon on emergence of profit-booking. Heavy selling forced the index to conclude at 26,775.69, a steep fall of 431.05 points or 1.58 per cent. Previously, it had stumbled by 517.97 points or 1.98 per cent on July 8, 2014. Similarly, the wide-based 50-issue CNX Nifty of the NSE tanked by 128.75 points or 1.58 per cent to end at 8,017.55. This is its worst drop since July 8 when it fell 164 points. "Markets fell sharply on the back of profit booking and negative global cues. The selling pressure gained momentum after data released on Eurozone economic activity indicated continuing weakness in the region," said Sanjeev Zarbade, Vice President- Private Client Group Research, Kotak Securities. Stocks like Cipla, Tata Motors, Hindalco, Tata Steel and Tata Power were major laggards today. TCS, Sun Pharma, SBI, RIL, ONGC, Mahindra and Mahindra, L&T, Infosys, ICICI Bank and Coal India fell sharply. Bucking the trend, stocks of Hindustan Unilever, ITC, Maruti Suzuki and NTPC gained. Second-line stocks also suffered heavy losses on profit selling by retail investors.  

1.65 lakh crores investor wealth sucked

Investor wealth today fell sharply by Rs 1.65 lakh crore in-tandem with an overall weak stock market where the benchmark Sensex lost a whopping 431.05 points. With the Sensex witnessing its worst fall in two-and- a-half months, the total market capitalisation of BSE listed firms declined by Rs 1.65 lakh crore to Rs 94.43 lakh crore. The Sensex ended the day at 26,775.69, a steep fall of 431.05 points or 1.58 per cent.
Among the 30-Sensex scrips, 26 ended the day in red led by Cipla, Tata Motors, Hindalco and Tata Steel.
The four gainers were NTPC, HUL, Maruti and ITC.
All of the BSE 12 sectoral indices settled with losses, with realty index witnessing the maximum fall of 4.91 per cent.
At the BSE, 2,182 stocks declined, while 847 advanced.

 

NIFTY OUTLOOK FOR 23 & REVIEW

ZIG ZAG MOVEMENTS WITH BULLISH BIAS

  

Nifty                               8146    +25 

Nifty opened in the negative following global cues and recovered sharply in the afternoon to close in th positive territory. Further bullishness would be possible if it closes above 8180. Monday’s trading pattern is  a sign of bullishness as it recovered sharply from lower levels and closed at he upper end for the day. Further, Nifty has been moving in a narrow range for the month and the present contraction would lead to inevitable expansion sooner than later.  Nifty spot is expected to encounter resistance at 8185,, 8220 and find support at 8110, 8075 for Tuesday. While Global cues  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 with bullish bias and midsession could be subdued.

MARUTI ON TOP SLOT IN CAR MARKET

Country's largest car-maker Maruti Suzuki India continues its dominance on the Indian roads, with its four models, led by entry-level small car Alto, heading the top ten best sellers list in April-August period this fiscal.
According to the Society of Indian Automobile Manufacturers (SIAM) data, the company's Dzire, Swift and WagonR were the second, third and fourth biggest selling models during the period.
Rival Hyundai's Grand i10 makes it to the fifth position during the April-August period, replacing hatchback Eon which moves on the seventh position.
The company's compact sedan Xcent takes sixth position replacing hatchback i10 from the top 10 list. Honda Cars India's sedan City stands at the eighth position. It replaces compact sedan Amaze, which now moves to 10th position.
Maruti's Celerio occupies the ninth position during the April-august period of the current fiscal, followed by Honda Amaze at the 10th spot.
Maruti Suzuki India's (MSI) Alto sold 1,03,123 units in the April-August period this fiscal as compared to 91,665 units sold in the same period of previous fiscal.
It is followed by compact sedan Dzire, with 82,912 units sold during the period. The company had sold 75,112 units of the sedan in the same period of previous fiscal.
Similarly, compact hatchback Swift continues to hold on to the third position during the April-August period this fiscal with 80,861 units sold during the period. Swift sales stood at 72,733 units in same period of previous fiscal.
Wagon R, with 63,051 units sold during the period, comes at the fourth position in passenger car segment. MSI had sold 61,298 units of the hatchback in the same period of 2013-14.
Hyundai's Grand i10 comes in at fifth position, with 40,530 units sold during the period. It has sold 1,847 units in same period of previous fiscal.
The South Korean car-maker's compact sedan Xcent sold 33,685 units during the period to take sixth position while the company's entry level car Eon comes at seventh position with 32,171 units sold during the period as against 39,463 units in the April-August period of 2013-14.
Honda's mid-sized sedan City sold 30,447 units during the April-August period to become the eight largest selling model in India. It had sold 9,855 units in the year-ago period.
MSI's Celerio, which was launched earlier this year at the Auto Expo, with 29,591 units sold during the period stood at ninth position.
Honda's compact sedan Amaze sold 28,887 units in the April-August period to take the 10th spot. It had sold 28,610 units in April-August period of 2013-14.

OIL PRICES STEADY

World oil prices today steadied after Brent crude had this week hit a two-year low point against a backdrop of solid supplies and dampening demand growth. Brent North Sea crude for delivery in November edged up six cents to stand at USD 97.76 a barrel around midday in London. US benchmark West Texas Intermediate for October eased 22 cents to USD 92.85 a barrel. "Brent is trading somewhat more firmly than a week ago after some extremely volatile days of trading," Commerzbank analysts said in a note to clients. Brent began the week by sliding to USD 96.21 a barrel, which was the lowest level since July 2012. Oil prices, however, rebounded sharply on Tuesday after the head of OPEC indicated that the crude producers' cartel could cut its production target for 2015. They headed south once more a day later as a US crude stockpiles report showed a weekly surge of 3.7 million barrels instead of the 1.2-million barrel decline expected by the market. "The market is unfazed by the prospect of cuts to OPEC production due to over-supply in Europe and Asia and a strong dollar, which has also dampened demand by rendering Brent crude oil more expensive when expressed in foreign currency terms," Chloe Bradley, an analyst at energy consultancy Inenco, said today. A stronger dollar added downward pressure this week to oil prices, which are traded in the US unit and become more costly for buyers using weaker currencies. The greenback rose after the Federal Reserve stuck to its timetable on hiking interest rates but indicated they could eventually rise more sharply than initially envisaged. Oil traders also focused on the Scottish referendum owing to the presence of large reserves in the North Sea off the coast of Scotland. Scots rejected independence on Friday in a result that left the centuries-old United Kingdom intact but headed for a major shake-up that will give more autonomy to both Scotland and England.

NIFTY OUTLOOK FOR 22 & REVIEW

FORENOON SUBDUED

Nifty                               8121    +6

Nifty closed flat for the day and for the week and recorded Sixth weekly gain, one of the longest time frame gain  in the recent past. With lot of domestic cues involving visit of foreign dignitaries and PM’s visit to US, market is holding on to the gains amid zigzag movements. Nifty closed above 8100 mark for the Second day and would turn bearish only when it closes below 8020. Further, Nifty has been moving in a narrow range for the month and the present contraction would lead to inevitable expansion sooner than later.  Nifty spot is expected to encounter resistance at 8160,, 8195 and find support at 8080, 8045 for Monday. While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to be generally subdued  in the forenoon session and  witness zigzag movements thereafter.

OVERSEAS TRAVEL OF INDIANS ON RISE

The number of Indians travelling abroad went up by 21 per cent in the first half of this year compared to the same period last year, with Dubai emerging as the most preferred destination, a survey said. While Dubai has emerged as the number one destination, the USA is the favourite country among Indian travellers, according to the report, 'Outbound Travel Trends', released here by global travel website Trip Advisor. The findings are based on website traffic during the period between January 1 and June 30, 2014. Trip Advisor, however, did not given actual number of visitors visited abroad. When it comes to emerging destinations, data reveals that Belize, in the northeastern coast of Central America, has topped the list, while China is number one in the emerging country list, it said. "From destination preferences, to cuisine choices, to what Indian travellers like to do while on holiday, outbound travel lookback for the first half of 2014, reveals a lot about the way Indian travel. "With interest in destinations such as Belize, Brazil, Tokyo and Bhutan growing at a rapid pace and alternate forms of accommodation such as vacation rentals or bed-and-breakfast being used while on a foreign vacation, Indian travellers definitely seem to be coming of age," TripAdvisor India Country Manager Nikhil Ganju said. It seems Indians are moving away from being traditional holiday goers with respect to lodging preferences, the report said. Global statistics show that almost 30 per cent go for options like bed-and-breakfast, vacation rentals compared to hotels (70 per cent), it said, adding that almost 50 per cent outbound Indians opt for rooms up to Rs 5,000 per night. When it comes to recreational activities, global numbers indicate that majority of Indian travellers prefer outdoor activities.

NIFTY OUTLOOK FOR 19 & REVIEW

ZIGZAG MOVEMENTS

Nifty                               8115    +140

A roller coaster week in which Nifty witnessed a huge upswing with all indices closing in the green and Nifty too getting into positive territory for the week with only One day to go for the week. Nifty closed above 8100 mark and would turn bearish only when it closes below 8020. However, one more positive day only would confirm the bullishness. Further, Nifty has been moving in a narrow range for the month despite a large move, and is yet to find a direction for the month. Nifty spot is expected to encounter resistance at 8155, 8190 and find support at 8075, 8040 for Friday. While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to be generally subdued  in the midsession and witness zigzag movements thereafter.

SENSEX. NIFTY AGAIN ON HIGHS

Indian markets today logged their best daily gain since May 12 with Sensex jumping 481 points to 27,112.21 and Nifty soaring over 139 points to 8,114.75 bolstered by Fed's continued pledge to retain rates at low levels and rising optimism over trade ties with China. Fuelled by foreign funds buying, all the 12 sectoral indices closed with gains between 0.58 per cent and 4.65 per cent. Realty, consumer durable, capital goods, auto, power and banking were the pacesetters in the surge. The benchmark S&P BSE 30-share Sensex resumed lower and touched a low of 26,503.08. It, however, quickly rebounded in line with positive Asian trends to cross 27K-mark and hit high of 27,132.20, before settling at 1-1/2-week high of 27,112.21 -- a rise of 480.92 points or 1.81 per cent. Previously, it had zoomed 556.77 points or 2.42 per cent on May 12. Similarly, the 50-share NSE Nifty regained 8,100 level and touched the day's high of 8,120.85 before settling 139.25 points higher at 8,114.75. Previously, it had zoomed 155.45 points on May 12. In a statement, the US Federal Reserve Chairwoman Janet Yellen yesterday in its policy setting meeting promised to keep the interest rates near zero for a "considerable time after its bonds buying programme comes to an end in October, giving immediate relief to the emerging markets, including India as fears of immediate capital outflows have subsided. Meanwhile, India today signed a 5-year trade and economic cooperation agreement with China with a view to improve the trade balance and obtain USD 20 billion Chinese investments. "With US rate rise possibilities becoming a more distant reality, emerging economies including India can expect to keep their hot monies 'hot' for some more time," said Debopam Chaudhuri, Chief Economist, ZyFin Research. Major Sensex gainers were Hero Motocorp (5.67 per cent), HDFC (3.73 per cent), Tata Motors (3.70 per cent), L&T (3.57 per cent), BHEL (3.51 per cent) and Bajaj Auto (3.47 percent). Participants were truly excited by the prospects of huge investments by China in India's infrastructure, railway & manufacturing projects, according to Devang Mehta, Sr. VP & Head - Equity Advisory, Anand Rathi Financial Services. Asian stocks gained in choppy trade after the US Federal Reserve after a two-day policy meet renewed a pledge to keep interest rates near zero for a considerable time and announced a further USD 10 billion reduction in monthly bond purchases.

NIFTY OUTLOOK FOR 18 & REVIEW

CAUTION @ HIGHER LEVELS....SELL ON RISE

Nifty                               7976    +43

After Two Big down days, market heaved a sigh of relief and  recovered a part of the lost ground. However, it continues to be a Sell on Rise market for short term with a stop loss of 8075(on close basis). US Fed meet outcome would influence the market direction on Thursday. Nifty spot is expected to encounter resistance at 8015, 8050 and find support at 7935, 7900 for Thursday. While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to be better in the forenoon but caution is advised at higher levels and traders may use the rise to reduce leveraged positions.

MIT...THE WORLD LEADER

Massachusetts Institute of Technology has emerged as the leading varsity in the world with no Indian institution featuring in the top 200, according to a global university ranking released today. The top-placed Indian institution, the Indian Institute of Technology-Bombay (IIT-B), is 222nd in the world, followed by IIT-Delhi at 235th, IIT-Kanpur at 300th, IIT-Madras at 322nd and IIT-Kharagpur at 324th position in the Quacquarelli Symonds (QS) World University Rankings . The number of Indian institutions in the rankings has grown to 12 from 11. The other Indian educational institutions that were given a rank lower than 400 on the list of over 700 top universities are -- University of Delhi, IIT-Roorkee, IIT-Guwahati, University of Mumbai, University of Kolkata, Banaras Hindu University, University of Pune. A total of 31 countries are represented in the top 200 in which the US is the dominant nation, with 51 institutions, ahead of the UK (29), Germany (13), the Netherlands (11), Canada (10), Japan (10) and Australia (8). The QS World University Rankings, regarded as the most rigorous of its type, place Imperial and Cambridge as second equal, behind only the MIT which topped the rankings for a third year in a row. Harvard dropped from second to fourth overall. It was followed by Oxford and University College London in joint fifth place, with Stanford, Caltech, Princeton and Yale of the US filling out the rest of the top 10. Kings College London, Edinburgh, Bristol and Manchester universities are all in the top 30, capping the best performance by British institutions in the 10 years the QS rankings have been published. Ben Sowter, head of research at QS, said the top 10 had excellent academic reputations, graduate recruitment, staff- student ratios and international reach for faculty and students. London has five in QS's top 100, compared with three for Boston and Hong Kong, and two for New York, Paris and Tokyo. Graduates of Oxford and Cambridge were rated as the world's most employable, with LSE graduates also highly regarded. Cambridge was the best performing British institution for total research citations, an area heavily dominated by the more wealthy US universities, according to the rankings. The QS World University Rankings is an annual league table ranking universities as a result of performance in four key areas: research, teaching, employability and internationalisation.

FRENCH WOMAN PAY TAX THROUGH SMALL CHANGE

A disgruntled taxpayer in southern France paid her annual bill using 30 kilogrammes of small change in protest at the way taxes are collected. The unemployed 28-year-old woman, who gave her name only as Audrey D., had to pay USD 1,435 in tax on her 2013 salary, which was on average 1,400 euros. "To pay the taxes on time, I had to sell my car," she told AFP. Income tax in France is levied once a year in September on the salary earned the previous year. Initially, she went to the tax office to pay in a single cash lump sum. "It hurts less that way," she said. However, officials told her she could only pay 300 euros at a time. She paid the first three tranches and then decided to make a statement with the remaining 207 euros. She marched into the tax office with a pink piggy bank and rolls of tiny one, two and five centimes coins. "I've got a good friend in a bank who helped me," she explained. She smashed the piggy bank on the counter and handed over the small change. At first, she received short shrift, but the ice was gradually broken and the tax officials lightened up as they counted out the payment. "I've nothing against paying taxes. But what I don't like is paying so much. We're not cash cows," she complained. Warming to her theme, she sent an open letter to President Francois Hollande and Finance Minister Michel Sapin to "protest against the rises in taxes, against this government that takes us for idiots but basically because I'm French and I love to whinge."

INFLATION DIPS TO 5 MONTH LOW

Declining prices of vegetable and other food articles pulled down wholesale inflation sharply to 3.74 per cent in August to a nearly five-year low.The inflation measured on Wholesale Price Index (WPI) was at 5.19 per cent in July and 6.99 per cent in August 2013.
Inflation in the food segment witnessed a significant decline to 5.15 per cent in August as against 8.43 per cent in the previous month, according to official data released here today.
The August WPI inflation is the lowest since October 2009 when it stood at 1.8 per cent.
Vegetable prices contracted 4.88 per cent, the third continuous month of decline. Maintaining a downward trend, the onion prices contracted by 44.7 per cent during the month under review.
However, potato prices were on the rise as inflation in the kitchen essential jumped to 61.61 per cent from 46.41 per cent in July.
Inflation in the fruits basket eased to 20.31 per cent in August. While prices of protein rich items like egg, meat and fish contracted during the month, inflation in milk and pulses inched up to 12.18 per cent and 7.81 per cent, respectively, as compared to July. The August retail inflation too eased to 7.8 per cent compared to 7.96 per cent in July.The wholesale WPI data further revealed that the price rise in manufactured goods, like sugar and edible oils too eased to 3.45 per cent in August, while it was 3.67 per cent in July.
Inflation in the fuel and power segment which include LPG, petrol and diesel declined to 4.54 per cent as compared to price rise of 7.40 per cent seen in July.
Meanwhile, wholesale inflation based on final index for June has been revised upwards to 5.66 per cent from the provisional estimate of 5.43 per cent.
The August WPI data is also provisional, the government said.
It also said the build up inflation rate in the financial year till August is 3 per cent compared to a build up rate of 5.23 per cent in the same period of 2013-14. 

INDICES DIP to 5 MONTH LOW

Logging their worst drop in over five weeks, Sensex today fell 244.48 points to end at below 27,000 mark and Nifty slid 63.50 points to below 8,100 level on US rate hike fears and tepid China data, despite domestic inflation in August easing to nearly five-year low. The rupee depreciated against US dollar to 61.14 levels, further dampening market sentiments, said equity brokers. Wary market participants preferred to book profits as they expected early hike in interest rates by the US Federal Reserve. Higher US rates is likely to trigger capital outflows in emerging markets, including India. Fed's two-day policy setting meeting starts tomorrow. Metal shares suffered the most after lacklustre Chinese factory output indicated slowdown in world's second biggest economy. Asian markets also retreated reacting to China data. Refinery, IT, capital goods and FMCG stocks in Indian markets also attracted profit-booking while some of the pharma and realty counters closed with gains, said traders. The BSE 30-share Sensex resumed lower in line with sluggish Asian trends on the back of Friday's fall on Wall Street. It gradually moved down further to settle at a two-week low of 26,816.56, down 244.48 points or 0.90 per cent. Today's drop is its worst fall since August 8, 2014. Worries over weak IIP growth that slowed to 4-month low of 0.5 per cent in July weighed even wholesale inflation fell sharply in August to 3.74 per cent, nearly 5-year low. Similarly, the 50-issue NSE Nifty also dipped by 63.50 points or 0.78 per cent, also its biggest loss since August 8, to two-week low levels of 8,042. "Benchmark indices ended lower for the day, driven lower by weak global markets. The policy meeting of the US Fed continued to be in focus. Markets are awaiting signals from the Fed, if any, on the timing of interest rate hikes," said Dipen Shah, Head- PCG Research, Kotak Securities. With CPI inflation data (7.8 per cent y-o-y in August) already getting released last week, markets chose to ignore WPI data and focussed on the US Fed meeting, he added. Oil prices sank. US benchmark West Texas Intermediate for October delivery eased 74 cents to USD 91.53, while Brent crude for October rose 39 cents to USD 97.50 in afternoon trade.

INVESTOR WEALTH NEARS TO Rs 100 LAKH CRORES

With the benchmark Sensex witnessing a dream-run, total market valuation of BSE listed companies has inched closer to Rs 100 lakh crore milestone. At present, the total market capitalisation (m-cap) of BSE listed companies stands at Rs 96,25,517 crore which is Rs 3.74 lakh short of Rs 100 lakh crore mark. In terms of US dollar, the total market value of BSE listed companies has surged to USD 1.58 trillion at the current rupee rate of 60.65 against the Greenback. Earlier, the total m-cap of domestic listed companies had reached a record USD 1.5 trillion in June this year. India had first entered the trillion-dollar club in June 2007, but moved out in September 2008 after a global meltdown. It again got back into the elite league in May 2009 and largely remained there except for some brief periods including once in 2012. In August 2013, it had again slipped out of the elite list. Indian stock market investors are making big gains as the Sensex has gained 5,890.36 points or 27.82 per cent so far this year. The index has hit its all-time high of 27,354.99 on September 8. "The undercurrent of the stock market is very bullish. Markets are likely to sustain at current levels," an expert said. Sensex blue-chip companies whose market valuation is more than Rs 1 lakh crore include TCS, ONGC, RIL, ITC, Coal India, Infosys, HDFC Bank, SBI, ICICI Bank, Sun Pharma, Bharti Airtel, HDFC, L&T, Wipro, Tata Motors and NTPC. Outsourcing giant TCS is the most valued Indian company with a market cap of Rs 5,10,415.13 crore. Analysts said Indian markets are also making merry helped by robust foreign fund inflows. Since the beginning of the year, foreign investors have made a net investment of Rs 1.98 lakh crore (USD 33 billion) in the country's equity market.

ASTRO GUIDE FOR NIFTY

CRUCIAL & DIRECTIONAL WEEK

Planetary Position ::  During the current week Moon would be transiting  from Rohini in Taurus to Pushyami in Cancer.

Sun transits in Uttara in Leo and Virgo .

Mercury transits  in    Hasta  and Chitta constellations  in   Virgo.

Venus transits in Pubba in Leo.

Mars  transits in   Anuradha  constellation in Scorpio .  

Saturn transits in Visakha constellation in Libra and in Taurus Navamsa .  

Jupiter transits in Aslesha constellation in Cancer and in Sagittarius navamsa ..

Uranus trine Jupiter will take place in the last week of September which is a Bullish sign and any correction before that time could be an opportunity to Buy. Further, Range between Monday to Thursday (8^th September to 11^th September) which would be the monthly astro range(8180 to 8057) and Nifty  would be bullish above the high (8180) and bearish below the low (8057) for the next Three weeks and a target of 8300 / 8425 on the upper side and 7925 / 7800 on the lower side can be expected.

Nifty Outlook for Next Week :: (15.09.2014 to 19.09.2014) …  

 NIFTY::(8106(+19)   Break Out or Break Down ?

Nifty continued its gains for the Fifth week , though gained marginally. While Nifty gained only marginally broader market was more strong with mid cap stocks gaining smartly. Further, Nifty moved in a narrow range last week and a  directional move can be expected this week, hence this week would be quite crucial. As PM’s US visit is round the corner and bullish sentiment could be expected around his visit time and any reasonable fall before that would be an opportunity to Buy keeping in view the forthcoming event.

PSU divestment plan  would affect the prices of those scrips in addition to sucking liquidity from the system. However, this would be only a temporary phenomenon and prices could / would come back over a period of time.

 Advance Tax numbers would act as guide for the earnings and would affect the sentiment of the market.

As Nifty has been on the rise for the last 5 weeks, a reasonable retracement is natural. However, in view of the Chinese Premier visit to India and PM’s visit to US, lot of investments could be promised which would perk up the sentiment further. As long term bullish trend is  a foregone conclusion, most market participants are expecting a short term correction for investing which has been eluding. However, stocks have been correcting individually and scrip specific approach is to be followed.

While IIP figures released after Friday’s market were negative and a lower opening on Monday appears likely, further movement depends on Advance Tax numbers, FII flows, domestic and global cues.  Further, Gas Pricing issue also is likely to be settled during the week which would influence  Reliance.

However, with a committed and proactive Government, turnaround among key sectors is only a matter of time and Stock market usually discounts future in advance and hence this bull run.

Nifty is trading above the monthly breakout level and the weekly break out level of 8075 but was unable clear the weekly break out level last week. For the next week, breakout level if 8215 and Break down level is 8025 and one of the Two levels would most probably be cleared and go further in the same direction for the rest of the month.

Highly positive macro indicator is the falling crude oil prices and falling gold imports which would positively impact Current Account Deficit.

PSU Banks need to come out of the NPA problem which could take further time in view of the gravity of the problem.  IT Sector is buoyant and further buoyancy too can be expected in view of strengthening US  economy. Infra and Power sector woes can be expected to be addressed by the present Government

Macro  economic indicators have turned positive in view of the falling

crude oil prices as Diesel subsidy is nearly phased out.   If inflation too eases leading to reduction of interest  rates, economic revival would kick in leading to earnings growth and higher PE too. With a proactive and  committed Government at the centre, it would happen sooner than later. However, a reasonable correction  could take place before another leg of upmove. On the other hand, if market remains sideways for a considerable period also, it could be  taken as a correction. Stocks which have run up ahead of fundamentals are seen correcting. Most PSU stocks and Infra stocks corrected sharply during the last Two months. 

Technically, Nifty is bullish in all time frames and very short term trend could come under threat if it closes below 8050.

20DMA, 50DMA, 100DMA and 200 DMA are placed at about 8000, 7810, 7540 and 6925 respectively and would act as supports. Nifty has taken support from about 50 DMA last Three times and could be expected to lend strong support and a deeper correction could set in only if it closes and trades  below 50 DMA(7810) consistently.

Based on the present Government’s agenda, Infra  and Power sectors could come out of their problems soon . Stocks of promoters with proven record may be preferred in these sectors.

  Investors need to accumulate quality stocks while traders need to be ever vigilant.

Nifty continues to be above 200 DMA and 50 DMA too is above 200 DMA (Golden Cross) suggesting that the long term bullish trend is intact.   Nifty is quoting at a PE of about 21, which is about 15% above the long term PE multiple.  Hence, further upside (  8500+ is possible during the year / before next Budget)  

in view of the  stable and performing Government  at the centre as earnings would go up because of favourable atmosphere .  Hence, it could pullback nearer to long term average when it gets into correction.

 Market is usually ahead of fundamentals and fundamentals need to catch up with the present valuations which could take some time , hence correction could be expected. (However, scrips are seen correcting though Nifty is very bullish)

.

Further, Nifty had been trading in a range of 4600 to 6300 (till 2013) for more than 4 years and  a  powerful breakout

had taken place  for an initial target of about 8200 / 8500.. Hence strong long term support would be around 6925

level and Medium term support is 7540.

Technical Levels ::

RESISTANCE LEVELS : 8195,  8285, 8380 

SUPPORT LEVELS : 8015, 7925, 7840.

Minor resistances may be found at 8145,8175,  8190, 8220  and minor supports at 8065, 8040, 8020 and 7990.

For short term Nifty is neutral and would become bullish on a close above 8140 with strong resistance at 8215 and bearish on a close below 8050 with strong support around 7950.

Advice for Traders ::

Nifty continued its uptrend for Fifth  week but momentum among large cap stocks seems to be fading / declining.  If Nifty continuously maintains below 8070 / 8050, it can be considered bearish for the week and further downside can be expected. On the other hand, if it continuously maintains above 8130 / 8150, it can be considered bullish and further upside can be expected. Further, a wide range and directional move can be expected in view of the narrow move last week.