Indian stock market intraday outlook for August 8, 2013; below 5478 see panic selling on Nifty

Indian stock market intraday outlook for August 8, 2013; below 5478 see panic selling on Nifty

Thursday, August 8, 2013 NIFTYTrend- WeakSENSEXTrend- WeakAdvances- 728 Declines- 441 Unchanged- 66 Wednesday Indian stock markets started weak and volatile. The sell off continued for the second consecutive day on Rupee worries and weak Global markets. Better than expected US service industries data also affected the markets as the traders fear that US may with draw stimulus packages soon. But markets recovered on late moments, still closed in red. The markets are now in a panic situation as traders fear that the..

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Weekly Outlook

Nifty and Sensex weekly trend analysis for August 5, 2013 to August 9, 2013

NIFTYTrend- WeakSENSEXTrend- Weak   Previous week, Indian stock markets continued sell off for the second consecutive week. Markets closed in red on all five trading days of the weak. On 30th July 2013, RBI decided to leave key rates unchanged. RBI also lowered growth forecast for the financial year to 5.5 per cent from 5.7 per cent. These along with previous actions by RBI to tighten the liquidity and the failure of that move as rupee weakens further (3.4 per cent) resulted in the under performance of markets. Realty, Power, PSU, FMCG, Metal, Oil-Gas sectors were among losers. IT sector out performed.  BSE benchmark S&P Sensex opened at 19714.42, after seeing a high of 19751.03, went to a low of 19078.72 and closed at 19164.02 (584.17 points or 2.96 per cent lower).S&P CNX Nifty opened at 5869.95 went to a high of 5886 and then saw a low of 5649 before closing at 5677.90 (208.30 points or 3.54 per cent lower). Short term technical trend of the Nifty and..

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