NIFTY LEVELS FOR TOMORROW AND MARKET OVERVIEW

STOCK MARKET REVIEW 

CNX Midcap index was down today: 17 august 2011, 0.87% about while BSE small cap index also lost 1.61%.

The BSE Sensex ended at 16,840.80 gaining 109.86 points. The NSE Nifty closed at 5,056.60 losing 20.80 points.

Today’s Nifty Top gainers were:

HCLTECH with volume and changes 6,11,975 and 3.27  %

HDFC BANK with volume and changes 31,34,201 and 2.97 %

TCS  with volume and changes 22,78,946 and 2.71 %

Today’s Nifty Top losers were:

DLF with volume and changes 1,45,00,195 and 6.27 %

AXISBANK with volume and changes 21,64,821 and 3.61 %

MARUTI with volume and changes 3,85,046 and 3.27 %.

Nifty can be expected to follow down trend. It seems to be vary between 4960 - 5150

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 1-162  

Resistance 2- 168

Support 1- 152

Support 2- 149

HPCL

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

Resistance 1-398

Resistance 2- 400

Support 1- 383

Support 2- 378

NIFTY SPOT LEVEL
                                                                                                          

The Nifty Index opened at 5,030.30 and finally closed at 5,056.60 rallying up 20.80 points (0.41%). The Nifty high and low of the day were 5,112.15 and 5,017.25 respectively.

The Nifty Futures made a up rally of 20.80  points and finally settled at 5,056.60. The 30-share BSE Sensex was trading at 16,840.80 down 109.86 points.

Market seems to be strongly trades between 5000-5100 in narrow perspective and in broad perspective it seems to be vary between 4960-5150

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Nifty Spot levels would be

Support 1: 5000         Support 2: 4960

Resistance 1: 5100     Resistance 2: 5150

BANK NIFTY FUTURES

Bank Nifty Futures seems to be strongly trades between 9770–10125 is looking bearish in narrow perspective and in broad perspective it seems to be vary between 9600-10300.

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Bank Nifty Futures would be 

Support 1: 9770      Support 2: 9600

Resistance 1: 10125   Resistance 2: 10300