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:
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
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Asian stocks fell after Apple Inc. reported its first annual sales decline since 2001 while oil hit a three-week low on speculation that Russia
won’t join the OPEC in planned output cuts.
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