STOCK MARKET ANALYSIS AND NIFTY OUTLOOK : 21 AUGUST 2011

STOCK MARKET REVIEW 

CNX Midcap index was down today: 19 august 2011, 1.05% about and S&P CNX 500 lost about 1.71% while BSE small cap index and Midcap also lost at 2.01% and 1.36% Respectively.

The BSE Sensex ended at 16,141.67 losing 328.12 points. The NSE Nifty closed at 4,845.65 losing 98.50 points.

The Indian stock markets ended the week on a sour note, with the NSE Nifty losing almost 100 points and the BSE Sensex sinking by over 300 points. After opening gap down, the benchmark indices showed some signs of recovery. But, the Nifty was unable to reclaim 4900 amid another round of sell-off in the European markets.

Today’s Nifty Top gainers were:

JPASSOCIAT with volume and changes 1, 54,78,570 and 3.00%

DLF with volume and changes 91, 99,288 and 2.85 %

HEROMOTOR with volume and changes 4,80,001 and 2.17%

Today’s Nifty Top losers were:

TATAMOTORS with volume and changes 55,89,606 and 5.58 %

INFY with volume and changes 36,12,400 and 5.48 %

LT with volume and changes 28,58,253 and 4.98 %.

Nifty can be expected to follow down trend. It seems to be vary between 4675-4960

TECHNICAL CALLS FOR TODAY

THOMAS COOK

THOMAS COOK script closed trading at 41.Expected resistance and support levels for the scrip for the next trading session are:

Resistance 1-43

Resistance 2- 45

Support 1- 39

Support 2- 35

PIDILITE INDUSTRIES

PIDILITE INDUSTRIES has seen trading within the bounded range. Expected resistance and support levels are:

Resistance 1-165

Resistance 2- 169

Support 1- 156

Support 2- 150

STOCK MARKET CALLS

Buy LOVABLE LINGERIE at cmp Book first target at  461 and second at 468 Keep stop loss  at 448.45

Buy HERO MOTOCORP at cmp Book first target at 2007 and second at 2025 Keep stop loss at 1974.45

NIFTY OUTLOOK FOR TODAY : 21 AUGUST 2011

NIFTY SPOT LEVEL
                                                                                                          

The Nifty Index opened at 4,859.30 and finally closed at 4,845.65 rallying down 98.50 points (1.99%). The Nifty high and low of the day were 4,893.60 and 4,796.10 respectively.

The Nifty Futures made a down rally of 98.50 points and finally settled at 4,845.65. The 30-share BSE Sensex was trading at 16,141.67 down 328.12 points.

The Indian stock market ended the week on a sour note, with the NSE Nifty losing almost 100 points and the BSE Sensex sinking by over 300 points. After opening gap down, the benchmark indices showed some signs of recovery. But, the Nifty was unable to reclaim 4900 amid another round of sell-off in the European markets.

Market seems to be strongly trades between 4790-4905 in narrow perspective and in broad perspective it seems to be vary between 4675-4960

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Nifty Spot levels would be

Support 1: 4790        Support 2: 4675

Resistance 1: 4905     Resistance 2: 4960

BANK NIFTY FUTURES

Bank Nifty Futures seems to be strongly a trade between 9280–9610 is looking bearish in narrow perspective and in broad perspective it seems to be vary between 9150-9765.

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Bank Nifty Futures would be 

Support 1: 9280      Support 2: 9150

Resistance 1: 9610   Resistance 2: 9765