Nifty Summary for the Day 22/11/2013

Immense volatility was witnessed in late trade as indices once again regained positive zone after sliding to fresh
intraday low in late trade.
Index heavyweight Reliance Industries settled marginally lower after seeing high volatility. Index heavyweight and
cigarette major ITC extended fall in late trade.
ONGC surged after the company's wholly owned subsidiary ONGC Videsh (OVL) after market hours on Thursday
announced that it has on 20 November 2013 signed Memorandum of Understanding (MOU) with Petrovietnam to
promote the joint cooperation in hydrocarbon sector in Vietnam, India and other countries.
Bajaj Auto reversed initial gains. Bank stocks fell in volatile trade after the Reserve Bank of India (RBI) on
Thursday, said it would focus on the monitoring of banks' asset quality and help improve the poor debt recovery
process in the country.
Dabur India rose 0.56%. The company during market hours said that its board of directors has effective today, by
way of passing Resolutions by circulation and subject to the approval by the shareholders of the company,
resolved increase in the investment limit for foreign institutional investors ("FIIs") upto 30% of the paid-up equity
share capital of the company.
In the foreign exchange market, the rupee reversed initial losses against the dollar in choppy trade.
The market breadth, indicating the overall health of the market, turned negative from positive in late trade. On
BSE, 1,274 shares declined and 1,231 shares gained. A total of 174 shares were unchanged.
Major Gainers on Nifty: CAIRN INDIA, ONGC, TATA STEEL, GAIL , ACC
Major Losers on Nifty: SESA STERLITE, TATA MOTORS, BAJAJ AUTO, IDFC, ULTRATECH CEMENT
Global Markets Updates:
European shares advanced on Friday as overnight rallies in the United States and Japan signaled growing investor
appetite for risk. Tullow Oil helped lead the gains after it reported finding oil in Kenya.
Both DOW and NASDAQ futures were trading negative at this evening with both indices were in Red.

Technical View :

RSI was at 43, MACD negative below signal line; India VIX was at 20~ which all Indicate that market see some
more downside and make bottom formation.
Today, Nifty closed below its short term and medium term MA of 5DMA (6102), 20DMA (6155), 50DMA (6046)

but above 200DMA (5864) which all indicate that market has turned bearish in short to medium term basis.

Markets closed in negative terrain but with major sectors closing in GREEN. But, BSE CGS was the
BEST performing Sector today.