STOCK MARKET ANALYSIS AND NIFTY OUTLOOK : 20 SEPTEMBER 2011

STOCK MARKET REVIEW 

CNX Midcap index was down today: 19 September 2011, 0.20% about and S&P CNX 500 lost about 0.81% while BSE small cap index and Midcap also lost at 0.02% and 0.29% Respectively.

The BSE Sensex ended at 16,745.35 losing 188.48 points. The NSE Nifty closed at 5,031.95 losing 52.30 points.

The Indian markets started the new trading week on a sour note with the benchmark indices finishing in the red for a second consecutive session. After opening in the red, the key indices never looked like recovering as Asian indices slid and European markets resumed their downward swing.

Stock market can be expected to be bearish in beginning.

Today’s Nifty Top gainers were:

JPASSOCIAT with volume and changes 1,40,10,502 and 3.22 %

MARUTI with volume and changes 14,02,251 and 2.75 %

GAIL with volume and changes 8,72,033 and 2.34 %

Today’s Nifty Top losers were:

RELINFRA with volume and changes  11,36,641 and -4.29%

STER with volume and changes 36,52,715 and 4.26 %

LT with volume and changes 20,95,772 and 3.00 %.

Nifty can be expected to follow down trend. It seems to be vary between 4915-5100.

TECHNICAL CALLS FOR TODAY

MARUTI

MARUTI closed today’s session at 1140.75. Support and resistance levels for the share for the next trading session are:

Resistance 1- 1147

Resistance 2- 1155

Support 1- 1135

Support 2- 1129

ONGC

ONGC has closed the trading at 269. Expected levels for this script are as follow:

Resistance 1- 274

Resistance 2- 279

Support 1- 262

Support 2- 256

STOCKS TO WATCH : 20 SEPTEMBER 2011

Buy GMR INFRA above 29.30

Book First target at 29.40 and second at 29.50

Keep stop loss at 29.10

NIFTY OUTLOOK FOR TODAY: 20 SEPTEMBER 2011

NIFTY SPOT LEVEL
                                                                                                          

The Nifty Index opened at 5,068.40 and finally closed at 5,031.95 rallying down 52.30  points (1.45%). The Nifty high and low of the day were 5,068.40 and 5,019.25 respectively.

The Nifty Futures made a down rally of 52.30  points and finally settled at 5,031.95. The 30-share BSE Sensex was trading at 16,745.35 down 188.48 points.

The Indian markets started the new trading week on a sour note with the benchmark indices finishing in the red for a second consecutive session. After opening in the red, the key indices never looked like recovering as Asian indices slid and European markets resumed their downward swing.

Market seems to be strongly trades between 4985-5075 in narrow perspective and in broad perspective it seems to be vary between 4945-5120

Tomorrow market is expected to be bullish.

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Nifty Spot levels would be

Support 1: 4985       Support 2: 4945

Resistance 1: 5075     Resistance 2: 5120

BANK NIFTY FUTURES

Bank Nifty Futures seems to be strongly a trade between 9425–9695 is looking bullish in narrow perspective and in broad perspective it seems to be vary between 9300-9840.

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Bank Nifty Futures would be 

Support 1: 9425      Support 2: 9300

Resistance 1: 9695   Resistance 2: 9840

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