Nifty Tips and Trend for Tomorrow (1st July 2013)
Markets ended the week with a strong move on Friday.
Today's move was on the back of the Government reforms initiative of increasing
gas prices and setting up of a coal regulator. Stocks across sectors gained
with most Sensex/Nifty stocks ending in the green. Metals, financials and oil
shares gained the most. For the week, markets ended more than 3% higher,
largely on the back of Friday's gains. The Sensex touched a high of 19,432.94
points and low of 19,093.18 points in the intra-day.The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE)
surged 2.81 percent or 159.85 points to 5,842.20 points. There was a strong buying support in oil
and gas stocks after the government approved a proposal to almost double gas
prices. The move is likely to help the companies like Reliance Industries and ONGC involved in gas production.
We have been consistently maintaining
that government reform initiatives can lead to a sustainable rise in the markets.
Thursday's announcements on gas prices and setting up of a coal regulator are
positive for the long-term development of these core sectors. We believe that,
further initiatives to remove administrative and procedural obstacles in other
investment-led sectors could lead to further positive sentiments in the
markets.
Nifty Prediction
for Monday
Rate cut by RBI
after wholesale price raised helped market to move up from losing track on
Friday. BSE SENSEX rallied 350 points and NSE NIFTY move 109 points.
Nifty may take
resistance at 5968.164 and support at 5835.071 on Monday. Technically Market is
slightly in bearish mode. Weak Rupee and weak global trend may upset
market. Foreign investors continuously sold shares which tends to
negative impact on market condition.
Bearish Sectors:
PSU Banks, Realty, Finance, Media, Metal.
Stocks to Buy:
Reliance, LUPIN, RANBAXY, HCL Tech, Infosys, Coal India
Subscribe to:
Posts (Atom)
Posts
