Thursday, August 4, 2011

NIFTY LEVELS AND MARKET OVERVIEW : 5 AUGUST 11


STOCK MARKET REVIEW 

CNX Midcap index was down 0.69% about while BSE small cap index also lost 0.57%. The Indian markets ended near day's low on Thursday, extending their losing streak into the third straight trading session. The NSE Nifty has slipped over 160 points in the last three days with the index closing below the 5350 levels for the first time since June 26. The BSE Sensex ended at 17,693 losing 247 points. It had earlier touched a day's high of 18,032.

The decline was led by Realty, Auto, FMCG and Metals stocks. The Mid-Cap and the Small-Cap stocks witnessed continued offloading.

Today’s Nifty Top gainers were:

BPCL with volume and changes 8,19,353 and 3.49 %
GAIL with volume and changes 10,40,945 and 0.85 %
RCOM with volume and changes 69,36,386 and 0.61 %


Today’s Nifty Top losers were:

RANBAXY with volume and changes 6,03,364 and 4.13 %
RELCAPITAL with volume and changes 13,00,330 and 4.00 %
M&M with volume and changes 25,88,861 and 3.96 %.

Tomorrow market would be down due to weak global market and problematic political condition in the country.

Nifty can be expected to follow up trend. It seems to be vary between 5230-5440

SHARE TO PICKS:

Cipla

cipla Script has traded in heavy volume on thursday. Shares closed the today’s session at 306. Support and resistance levels for the share for the next trading session are:

Resistance 1-309,
Resistance 2- 316

Support 1- 301
Support 2- 208


RANBAXY

RANBAXY has seen trading within the range of 531 to 555 on Thursday. Expected levels for this script are as follow:

Resistance 1-540   
Resistance 2- 557

Support 1- 525   
Support2- 510


NIFTY SPOT LEVEL
                                                                                                          
The Nifty Index opened at 5,412.40 and finally closed at 5,331.80 rallying down 73.00 points (1.35%). The Nifty high and low of the day were 5,434.50and 5,323.15 respectively.

The Nifty Futures made a down rally of 73.00 points or (1.35%) and finally settled at 5,331.80. The 30-share BSE Sensex was trading at 17,693.18 down 247.37 points.

The Indian markets ended near day's low on Thursday, extending their losing streak into the third straight trading session. The NSE Nifty has slipped over 160 points in the last three days with the index closing below the 5350 levels for the first time since June 26. The BSE Sensex ended at 17,693 losing 247 points. It had earlier touched a day's high of 18,032.

The decline was led by Realty, Auto, FMCG and Metals stocks. The Mid-Cap and the Small-Cap stocks witnessed continued offloading.

Market seems to be down due to weak global market and problematic political condition in the country and strongly trades between 5290-5375 in narrow perspective and in broad perspective it seems to be vary between 5230-5440

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Nifty Spot levels would be

Support 1: 5290         Support 2: 5230

Resistance 1: 5375     Resistance 2: 5440


BANK NIFTY FUTURES

Bank Nifty Futures seems to be strongly trades between 10430 10640 is looking bearish in narrow perspective and in broad perspective it seems to be vary between 10300-10750.

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Bank Nifty Futures would be 

Support 1: 10430      Support 2: 10300

Resistance 1: 10640   Resistance 2: 10750

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