NIFTY OUTLOOK FOR 21 & REVIEW

ZIGZAG VOLATILE MOVEMENTS

Astro Info :: Moon transits in  Sravana in Capircorn .

Tithi : Sukla Padyami ; Weekday:: Wednesday;

Individuals born in Aquarius and Gemini signs and in Punarvasu, Visakha and Poorvabhadra constellations    may remain cautious in their transactions.

Senstive time:: 11.35am; 1.55pm to 2.50pm.

Nifty opened with bullish bias and went up steady to breach previous life time high in style and closed with a gain of 145 points and continued its upside momentum for the Fourth day in a row.  Stop loss for Nifty long positions may be trailed to 8525 (on close basis). Nifty spot is expected to encounter resistance at 8735, 8770 and find support at 8655, 8620 for Wednesday.   While Global cues, Quarterly results   and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market  is expected to trade in a zigzag manner with alternate bouts of bullishness and bearishness.

.
Trading strategy :: 

Based on planetary position and the aspects among planets, market can be expected to trade in zigzag fashion with alternate bouts of bullishness and bearishness. Long positions if trading above Open with low as SL, in general, and short positions if trading below Open and ATP with suitable stop loss.  Market in general is bullish, hence trade with restraint in case of short positions.

Breakout / Break Down Levels::

Breakoutlevel  is 8741 and Breakdown level 8541 for Nifty spot for Wednesday .,  It is unlikely that both levels would be breached., If Breakout level is breached., It is a Buy on Decline with Low as Stop loss and if Breakdown level is breached, It is a sell on rise with high as stop loss. Alternatively, if Nifty is unable to cross the Breakout level, short positions, can be considered with Breakout as stop loss and unable to breach the breakdown level, long positions can be considered with Breakdown level as stop loss.

Disclaimer ::  Above analysis  is based on planetary movements and is intended for guidance / educative purpose and traders are advised to be highly cautious with proper risk management mechanism as Trading is highly risky and not trade only based on the analysis given above. 

INDICES @ ALL TIME PEAK

Markets continued their upward march for the fourth straight session today with the BSE Sensex galloping over 522 points to close at a new peak of 28,784.67 and the NSE Nifty breaching the 8,700-mark for the first time, driven by a strong rally in metal and banking sector stocks. The BSE 30-share Sensex resumed on a positive note and touched a new all-time intra-day high of 28,829.29, surpassing its previous high of 28,822.37, recorded on November 28. It shed some gains on profit-booking and settled at a new closing peak of 28,784.67, up 522.66 points, or 1.85 per cent. The Sensex surpassed its previous record of 28,693.99, touched on November 28. In four days, the index has now gained almost 1,438 points. 

Similarly, the broader 50-issue NSE Nifty breached the 8,700-mark to hit a new intra-day peak at 8,707.90, bettering its record of 8,626.95 hit on December 4. However, due to profit-taking at record levels, it shed some grounds to close at 8,695.60, still a new high, up by 144.90 points or 1.69 per cent. It broke the previous record of 8,588.25 reached on November 28. Brokers said investor sentiments remained upbeat since the RBI's surprise rate cut last week coupled with encouraging Q3 numbers of some bluechip companies. Further, a firming trend at other Asian markets after better-than-expected Chinese economic data and a higher opening in European markets in anticipation of the ECB launching fresh stimulus also boosted sentiments in global markets. Foreign investors have been supporting the ongoing rally by pumping sizeable funds into domestic markets. Foreign portfolio investors (FPIs) bought shares worth a net Rs 433.72 crore yesterday, as per provisional data from the stock exchanges. Among the sectoral index, metal rose the most by surging 3.03 per cent, followed by bank index 1.84 per cent, FMCG 1.69 per cent, Oil & Gas 1.33 per cent, Realty 1.20 per cent, Auto 0.70 per cent, Capital Goods 0.45 per cent, Healthcare 0.43 per cent and IT 0.41 per cent. Of the 30 Sensex stocks, 22 ended with gains led by HDFC Ltd (up 5.84 per cent), Sesa Sterlite (up 5.36 per cent), Tata Steel (4.50 per cent), Axis Bank (up 4.33 per cent), Tata Motors (up 3.78 per cent), ITC Ltd (3.57 per cent), Hindalco (3 per cent), RIL (2.42 per cent), HDFC Bank (1.76 per cent), ICICI Bank (1.70 per cent) and SBI (1.58 per cent). Midcap index rose 0.44 per cent and smallcap index gained 0.41 per cent. 
 

INVESTOR WEALTH SOARS BY 89000 CRORES

Investor wealth today soared by over Rs 89,000 crore. Led by the rally in the stock market, investor wealth soared by Rs 89,376 crore to Rs 1,02,29,729 crore.