FORENOON SUBDUED

NIFTY OUTLOOK FOR 04 & REVIEW

Nifty                               8757   -40

Astro Info :: Moon transits in  Aslesha in Cancer .

Tithi : Bahula Padyami ; Weekday:: Wednesday. 

Individuals born in Leo and Sagittarius   signs and in Krittika, Uttara and Uttarashadha   constellations    may remain cautious in their transactions.

Nifty Range of Thursday and Friday(Combined High and Low of these Two days i.e., 22 and 23 January) may be regarded as the reference range for the next Three weeks and can be expected to be bullish above the High of this range and Bearish below the low of this range. Now the range is  8866 and 8727 and Hence further bullish above 8866 and Bearish below 8727 and neutral in between these levels.

It is yet to trade below the lower end of the range. (taken support at 8727).

Senstive time:: 9.50am; 10.40am; 12.20pm; 2.00pm;

Market Outlook for  Wednesday, 04th February, 2015  :: Forenoon Subdued ….!!!
Nifty traded in a choppy manner and encountered selling at higher levels and closed with a loss of about 40 points. Nifty can be expected to be bearish for short term as long as it does not close above 8875.  Nifty spot is expected to encounter resistance at 8795, 8835 and find support at 8720, 8680 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 subdued forenoon and possible recovery in Second half of the day.
Trading strategy :: 

Forenoon Subdued and Recovery in Second half of the day. If Nifty trades below the open level after 9.45, short positions can be considered with high as SL to be closed by about 12.00pm./ 12.30pm.,,

Breakout / Break Down Levels::

Breakoutlevel  is 8865and Breakdown level 8700 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.

RBI DISAPPOINTS...SENSEX SLIPS 122 POINTS

 

Extending losses for the third straight day, benchmark BSE Sensex today slipped by 122 points to close at 29,000.14 as RBI keeping interest rate unchanged disappointed investors. Interest rate sensitive realty and baking stocks bore the brunt of selling after the Reserve Bank of India left repo rate unchanged at 7.75 per cent, but cut SLR by 0.50 per cent to 21.50 per cent. Markets were expecting the central bank to continue the rate cut cycle after it surprisingly cut rate by 0.25 per cent a fortnight ago.
BSE Bankex plunged by by 2.61 per cent, while realty slumped 1.43 per cent.
The 30-share index was up 130 points higher in early trade ahead of RBI policy announcement but shed the gains to trade below 29,000 level. It finally settled at at 29,000.14, showing a loss of 122.13 points or 0.42 per cent from its previous close.
The Sensex has lost 681.63 points or 2.30 per cent in the three days.
The NSE Nifty also fell by 40.85 points or 0.46 per cent to finish at 8,756.55. "Markets showed its disappointment on the outcome of monetary policy by trimming the day’s gains," said Hiren Dhakan, Associate Fund Manager, Bonanza Portfolio. Meanwhile, foreign portfolio investors sold shares worth a net Rs 629.97 crore yesterday, as per provisional data from stock exchanges. Of 30 Sensex stocks,16 ended lower while 14 others finished higher.
Axis Bank 4.95 pc was the biggest loser. Tata Power lost 4.12 pc, Bajaj Auto 3.74 pc, M&M 3.52 pc, HDFC 2.98 pc, Cipla 2.52 pc.
However, SSLT rose by 6.23 pc, Bharti Airel 3.42 pc, Reliance Ind 3.25 pc and ONGC 2.64 pc.
Among the BSE sectoral indices, healthcare fell by 0.92 pc and auto 0.66 pc while FMCG rose by 1.06 pc, Metal 0.80 pc and Consumer Durable 0.50 pc.
The total market breadth turned negative as 1,531 stock ended in the red, 1,332 closed in the green and 118 ruled steady. Total turnover rose to Rs 4,737.88 crore from Rs 4,201.09 crore yesterday.