Market Outlook for 12th January, 2012

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Astro Info:: Tithi :: Pushya Bahula Tadiya upto 10.40 and Chavithi thereafter :: Day :: Thursday :: Nakshatra :: Makha (Moon in Leo ).
Persons born in Krittika, UTtara and Uttarashadha constellations and Leo and Sagittarius signs are advised to be alert in their dealings.

Market Outlook for 12.1.12 :: Generally Subdued … Midsession Better …!!!
Nifty closed nearly flat after a day of Strong gains. Q3 results season would be starting with Infy set to declared results on Thursday and the stock looked nerous ahead of results (could be due to profit booking). Short term trend continues to remain Bullish and stop loss may be trailed to 4750 (on close basis). Nifty spot is expected to encounter resistance at 4895, 4930 and 4965 and find support at 4805, 4770 and 4735 for Thurssday. Infy results would set the trend for the day. While Global cues, Funds flow, Q3 results are expected to broadly guide the market movement, Market might display volatile movements with subdued / bearish trend in general with better midsession.

Review for Wednesday, 11th January, 2012::
After massive gain on Tuesday, market cooled off yesterday with lackluster movement and closed flat for the day with a modest gain of about 10 points. However, broader market is quite strong, as has been the case recently, with Advance Decline ratio placed at 2:1. FMCG and IT stocks dragged the index down while Realty, Metal and Bank stocks gained. Infy looked weak ahead of quarterly results. Reliance and Axis Bank contributed 10 points to Nifty while Infy and TCS dragged Nifty down with a negative contribution of more than 10 points. Hindalco, Sesagoa, BPCL, Sterlite and Axis were the major gainers among Nifty stocks while TCS, Powergrid, Jindal Steel, Grasim remained as major losers. Among F&O stocks. Indain Bank, Tata Chem, TCS and Ultracem closed in the red with higher Open Interest indicating Bearishness while IB Real estate, DishTV, Jain irrigation and Arvind gained with additional Open Interest indicating build up Long positions.