STOCK MARKET REVIEW
CNX Midcap index was down today: 24 august 2011, 0.79 % about and S&P CNX 500 lost about 1.01% while BSE small cap index and Midcap also lost at 1.51% and 0.54% Respectively.
The BSE Sensex ended at 16,284.98 losing 213.49 points. The NSE Nifty closed at 4,888.90 losing60.00 points.
Indian stocks dropped for the first time this week on concern measures taken by the central bank to curb price increases have started to cool demand and hurt corporate earnings.
Today’s Nifty Top gainers were:
RANBAXY with volume and changes 5,38,737 and 1.08 %
POWERGRID with volume and changes 38,74,708 and 0.79 %
GRASIM with volume and changes 79,852 and 0.59 %
Today’s Nifty Top losers were:
TATASTEEL with volume and changes 54,89,631 and 4.62 %
TATAMOTORS with volume and changes 35,93,472 and 4.40 %
AXISBANK with volume and changes 24,79,119 and 4.39 %.
Nifty can be expected to follow down trend. It seems to be vary between 4780-4975.
TECHNICAL CALLS FOR TODAY
Mahindra & Mahindra Limited.
Mahindra & Mahindra Limited. Share closed the trading on NSE closed at Rs.695.10. support and resistance levels for the share for the next trading session are:
Resistance 1-710
Resistance 2- 714
Support 1- 694
Support 2- 690
Sun Pharmaceuticals Industries Limited
Sun Pharmaceuticals Industries Limited closed the session at 464.30. Expected levels for this script are as follow:
Resistance 1-475
Resistance 2- 481
Support 1- 460
Support 2- 454
NIFTY OUTLOOK FOR TODAY : 25 AUGUST 2011
NIFTY SPOT LEVEL
The Nifty Index opened at 4934.35 and finally closed at 4,888.90 rallying down 60.00 points (1.02%). The Nifty high and low of the day were 4962.40and 4875.30 respectively.
The Nifty Futures made a down rally of 60.00 points and finally settled at 4,888.90. The16,284.98 down 213.49 points. 30-share BSE Sensex was trading at
Indian stocks dropped for the first time this week on concern measures taken by the central bank to curb price increases have started to cool demand and hurt corporate earnings.
Market seems to be strongly trades between 4830-4930 in narrow perspective and in broad perspective it seems to be vary between 4780-4975.
SUPPORT AND RESISTANCE:
The Support and Resistance Zone for Nifty Spot levels would be
Support 1: 4830 Support 2: 4780
Resistance 1: 4930 Resistance 2: 4975
BANK NIFTY FUTURES
Bank Nifty Futures seems to be strongly a trade between 9090–9425 is looking bearish in narrow perspective and in broad perspective it seems to be vary between 8940-9600.
SUPPORT AND RESISTANCE:
The Support and Resistance Zone for Bank Nifty Futures would be
Support 1: 9090 Support 2: 8940
Resistance 1: 9425 Resistance 2: 9600
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