STOCK MARKET ANALYSIS AND NIFTY OUTLOOK : 27 SEPTEMBER 2011

STOCK MARKET REVIEW 

CNX Midcap index was down today: 26 September 2011, 1.58% about and S&P CNX 500 lost about 0.94% while BSE small cap index and Midcap also lost at 1.67% and 1047% Respectively.

The BSE Sensex ended at 16,051.10 losing 110.96 points. The NSE Nifty closed at 4,835.40 losing 32.35 points.

Market was down due to weak global market.

Stock market can expected to be bearish.

Today’s Nifty Top gainers were:

DLF with volume and changes 52,47,845 and 3.52 %

JPASSOCIAT with volume and changes 2,25,41,196 and 3.34 %

RANBAXY with volume and changes 4,45,466 and 2.18 %

Today’s Nifty Top losers were:

TATA POWER with volume and changes 30,58,567 and 5.82 %

STER with volume and changes 99,24,443 and 4.57 %

SAIL with volume and changes 26,34,413 and 4.37%

Nifty can be expected to follow down trend. It seems to be vary between 4720-4965

TECHNICAL CALLS FOR TODAY

STATE BANK OF INDIA

ICICI BANK

ICICI closed today’s session at 853.50. Support and resistance levels for the share for the next trading session are:

Resistance 1- 875

Resistance 2- 885.5

Support 1- 832.50  

Support 2-825.50

GRAVITA INDIA

DLF

DLF has seen trading within the range of 200.45. Expected levels for this script are as follow:

Resistance 1-203.60

Resistance 2- 206

Support 1- 195

Support 2-190.50

 NIFTY OUTLOOK FOR TODAY: 26  SEPTEMBER 2011

NIFTY SPOT LEVEL
                                                                                                          

The Nifty Index opened at 4,878.60 and finally closed at 4,835.40 rallying down 32.35  points (0.66%). The Nifty high and low of the day were 4,879.80 and 4,758.85 respectively.

The Nifty Futures made a down rally of 32.35 points and finally settled at 4,878.60. The 30-share BSE Sensex was trading at 16,051.10 down 110.96 points.

Market seems to be strongly trades between 4785-4900 in narrow perspective and in broad perspective it seems to be vary between 4720-4965

Tomorrow market is expected to be bearish.

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Nifty Spot levels would be

Support 1: 4785     Support 2: 4720

Resistance 1: 4900     Resistance 2: 4965

BANK NIFTY FUTURES

Bank Nifty Futures seems to be strongly a trade between 9150–9620 is looking bearish in narrow perspective and in broad perspective it seems to be vary between 8995-9775.

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Bank Nifty Futures would be 

Support 1: 9150      Support 2: 8995

Resistance 1: 9620   Resistance 2: 9775