Tuesday, August 9, 2011

NIFTY LEVELS AND MARKET REVIEW : 10 AUGUST 11


STOCK MARKET REVIEW 

CNX Midcap index was down 1.10% about while BSE small cap index also lost 2.05%. The market saw huge swings before closing the trade. India's volatility index hit an all-time high of 34.31 on global uncertainties. The 30-share BSESensex fell 132.27 points, to close at 16,857.91 after swinging 700 points. The 50-share NSE Nifty dropped 45.65 points, to end at 5,072.85. 

Finally, the BSE Sensex ended at 16,858 losing 132 points. It had earlier touched a day's high of 17,135 and a day's low of 16,432. It opened at 16,517. The NSE Nifty closed at 5,072 losing 46 points.

IT, Telecom, Metals and Pharma stocks were the top losers. The Mid-Cap and the Small-Cap stocks also closed lower.

Today’s Nifty Top gainers were:

M&M with volume and changes 47,47,917 and 4.72 %
AMBUJACEM with volume and changes 29,86,851 and 3.28 %
DLF with volume and changes 1,33,15,572 and 3.27 %


Today’s Nifty Top losers were:

RPOWER with volume and changes 72,37,303 and 6.84 %
RELINFRA with volume and changes 19,49,724 and 6.31 %
RCOM with volume and changes 89,01,586 and 5.12 %.

Nifty can be expected to follow down trend. It seems to be vary between 4960-5195



SHARES TO PICK:

Indian Oil Corporation

Indian Oil Corporation has seen trading within the range of 335 to 344 on MONDAY. Expected levels for this script are as follow:

Resistance 1 -341  
Resistance 2- 345

Support 1- 333
Support 2- 328


Mahanagar Telephone Nigam

Mahanagar Telephone Nigam closed trading at 39 on Tuesday. Expected resistance and support levels for the scrip for the next trading session are:

Resistance 1-35
Resistance2- 31

Support 1- 42
Support2- 44


NIFTY SPOT LEVEL
                                                                                                          
The Nifty Index opened at 4,947.90 and finally closed at 5,072.85 rallying down 45.65 points (0.89%). The Nifty high and low of the day were 5,167.00 and 4,946.45 respectively.

The Nifty Futures made a down rally of 45.65 points or (0.89%) and finally settled at 5,072.85. The 30-share BSE Sensex was trading at 16,857.91 down 132.27 points.

Market seems to be strongly trades between 5030-5120 in narrow perspective and in broad perspective it seems to be vary between 4960-5195

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Nifty Spot levels would be

Support 1: 5030         Support 2: 4960

Resistance 1: 5120     Resistance 2: 5195

BANK NIFTY FUTURES

Bank Nifty closed at 10250 up by 7
Bank Nifty Futures seems to be strongly trades between 10050–10375 is looking bearish in narrow perspective and in broad perspective it seems to be vary between 9920-10520.

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Bank Nifty Futures would be 

Support 1: 10050      Support 2: 9920

Resistance 1: 10375   Resistance 2: 10520

1 comments:

Peehu Sharma said...

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CapitalStars

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