Monday, August 1, 2011

NIFTY LEVELS AND MARKET OVERVIEW : 2 AUGUST 11


STOCK MARKET REVIEW 

CNX Midcap index was down 0.12% about while BSE small cap index also lost 0.26%. The Sensex declined 117.13 points to close at 18,314.33, while the Nifty dropped 34.80 points to close at 5,516.80.

Among the other major laggards were FMCG and Consumer Durables stocks. IT, Telecom and Auto stocks were among the major gainers. Even the Mid-Cap and the Small-Cap stocks were under pressure.
For the Indian markets will be corporate earnings and the parliament proceedings during the monsoon session. Any meaningful progress on any of the crucial reform-oriented bills will be sentimentally positive for the markets

Today’s Nifty Top gainers were:

RANBAXY with volume and changes 9,81,760 and 4.48 %
LT with volume and changes 7,87,521 and 2.38  %
IDFC BANK with volume and changes 84,61,067 2.10 %


Today’s Nifty Top losers were:

SAIL with volume and changes 61,15,115 and -5.10 %
RELCAPITAL with volume and changes 14,87,876 and 4.09 %
JINDALSTEEL with volume and changes 25,93,034 and 3.07 %.

In Upcoming trading session, market would be uptrend due to the positive US Results

Nifty can be expected to follow up trend. It seems to be vary between 5430 -5605


TECHNICAL OUTLOOK:

Havells India

Havells India announced its quarter result on Monday. Script has traded in heavy volume on the result day. Shares closed the today’s session at 354.50. Support and resistance levels for the share for the next trading session are:

Resistance 1-368,
Resistance 2- 381

Support 1- 344 
Support 2- 335


Sun TV networks

Sun TV networks announced its first quarter results on 1 August 2011. It has seen trading within the range of 330 to 305 on Monday. Expected levels for this script are as follow:

Resistance 1-325 
Resistance 2- 340

Support 1- 300
Support 2- 290



STOCKS TO WATCH :

Buy S KUMARS FUTURES above the Level 58.80
Book First target at 59.50 and Second target at 60.50
Keep the First Stop loss at 57.65


Buy RANBAXY FUTURES at cmp
Book First target at  570 and Second target at 576
Keep the  stop loss at  557.65


Buy COX & KINGS at cmp
Book first target at 225.50 and Second target at 229
Keep stop loss at  218.65

NIFTY SPOT LEVEL
                                                                                                          
The Nifty Index opened up at 5,527.50and finally closed at 5,516.80 rallying down - 34.80 points (0.63%). The Nifty high and low of the day were 5,551.90 and 5,486.45 respectively.

The Nifty Futures made a down rally of 34.80 points or (0.63%) and finally settled at 5,516.80. The 30-share BSE Sensex was trading at 18,314.33 down 117.13 points.


Among the other major laggards were FMCG and Consumer Durables stocks. IT, Telecom and Auto stocks were among the major gainers. Even the Mid-Cap and the Small-Cap stocks were under pressure.
For the Indian markets will be corporate earnings and the parliament proceedings during the monsoon session. Any meaningful progress on any of the crucial reform-oriented bills will be sentimentally positive for the markets

In upcoming trading session Nifty Spot Level can be expected to follow uptrend due to positive US results. Market seems to be strongly trades between 5470-5560 in narrow perspective and in broad perspective it seems to be vary between 5430-5605

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Nifty Spot levels would be

Support 1: 5470         Support 2 : 5430 

Resistance 1: 5560     Resistance 2: 5605

BANK NIFTY FUTURES

Bank Nifty Futures finally settled 10940 up by 29.

In upcoming trading session Bank Nifty Futures is expected to follow up trend if it strongly trades between 10800 11140 is looking bearish in narrow perspective and in broad perspective it seems to be vary between 10680-11250

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Bank Nifty Futures would be 

Support 1: 10800       Support 2: 10680

Resistance 1: 11140   Resistance 2: 11250

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