NIFTY INTRADAY LEVELS FOR TOMORROW AND MARKET OVERVIEW : 19 AUGUST 2011

STOCK MARKET REVIEW 

CNX Midcap index was down today: 18 august 2011, 2.36% about while BSE small cap index and Midcap also lost at 2.62% and 2.05 Respectively.

The BSE Sensex ended at 16,469.79 losing 371.01points. The NSE Nifty closed at 4,944.15 losing 112.45 points.

Today’s Nifty Top gainers were:

DLF with volume and changes 1,32,65,939 and 3.02 %

RCOM with volume and changes 71,66,101 and 1.00 %

JPASSOCIAT  with volume and changes 1,35,35,580 and 0.78 %

Today’s Nifty Top losers were:

RELINFRA with volume and changes 20,67,210 and 7.44 %

HCLTECH with volume and changes 15,90,082 and 6.92 %

WIPRO with volume and changes 23,96,107 and 5.61 %.

Nifty can be expected to follow down trend. It seems to be vary between 4500-5020

SHARES TO PICK :

HINDALCO INDUSTRIES

HINDALCO INDUSTRIES closed trading at 157 on Thursday. Expected resistance and support levels for the scrip for the next trading session are:

Resistance 1-160  

Resistance 2- 165

Support 1- 154

Support 2- 150

HPCL

HPCL closed trading at 391 on Thursday. Expected resistance and support levels for the scrip for the next trading session are:

Resistance 1-396

Resistance 2- 398

Support 1- 385

Support 2- 379

NIFTY SPOT LEVEL
                                                                                                          

The Nifty Index opened at 5,077.95 and finally closed at 4,944.15 rallying down 112.45 points (0.41%). The Nifty high and low of the day were 5,078.60 and 4,932.15 respectively.

The Nifty Futures made a down rally of 112.45 points and finally settled at 4,944.15. The 30-share BSE Sensex was trading at 16,469.79 down 371.01 points.

Market seems to be strongly trades between 4835-4985 in narrow perspective and in broad perspective it seems to be vary between 4500-5020

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Nifty Spot levels would be

Support 1: 4835         Support 2: 4500

Resistance 1: 4985     Resistance 2: 5020

BANK NIFTY FUTURES

Bank Nifty Futures seems to be strongly trades between 9410–9715 is looking bearish in narrow perspective and in broad perspective it seems to be vary between 9240-9900.

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Bank Nifty Futures would be 

Support 1: 9410      Support 2: 9240

Resistance 1: 9715   Resistance 2: 9900