STOCK MARKET REVIEW
CNX Midcap index was down today: 1ST OCT 2011, 0.35% about and S&P CNX 500 lost about 1.15% while BSE small cap index and Midcap also lost at 0.88% and 0.58% Respectively.
The BSE Sensex ended at 16,453.76 losing 244.31 points. The NSE Nifty closed at 4,943.25 losing 72.20 points.
Friday again proves to be a down side trend for the market. Market tried a lot to sustain its position of Thursday but fails to hold its spot as it falls almost 240 points on sensex.
Stock market is more likely to expect bearish.
Today’s Nifty Top gainers were:
SESAGOA with volume and changes 81,31,219 and 4.60 %
GRASIM with volume and changes 73,709 and 1.16 %
RANBAXY with volume and changes 10,22,974 and 2.73 %
Today’s Nifty Top losers were:
RELIANCE CAPITAL with volume and changes 1,42,90,129 and 13.17 %
RCOM with volume and changes 2,16,52,155 and 7.99 %
TATA STEEL with volume and changes 52,03,585 and 4.30 %
Nifty can be expected to follow up trend in a long term. It seems to be vary between 4830-5035
TECHNICAL CALLS FOR TODAY
M&M
M&M closed today’s session at 804.50. Support and resistance levels for the share for the next trading session are:
Resistance 1-815
Resistance 2- 821
Support 1- 798
Support 2-789
DLF
DLF has seen trading within the range of 225. Expected levels for this script are as follow:
DLF has seen trading within the range of 225. Expected levels for this script are as follow:
Resistance 1-230
Resistance 2- 236.5
Support 1- 219
Support 2-215
NIFTY OUTLOOK FOR TODAY: 1 OCTOBER 2011
NIFTY SPOT LEVEL
The Nifty Index opened at 4,990.15 and finally closed at 4,943.25 rallying down 72.20 points (1.44%) The Nifty high and low of the day were 5,025.55 and 4,924.30 respectively.
The Nifty Futures made a down rally of 72.20 points and finally settled at 4,943.25. The 30-share BSE Sensex was trading at 16,453.76 down 244.31 points.
Market seems to be strongly trades between 4895-4985 in narrow perspective and in broad perspective it seems to be vary between 4830-5035
Stock market is more likely to expect bullish
SUPPORT AND RESISTANCE:
The Support and Resistance Zone for Nifty Spot levels would be
Support 1: 4895 Support 2: 4830
Resistance 1: 4985 Resistance 2: 5035
BANK NIFTY FUTURES
Bank Nifty Futures seems to be strongly a trade between 9320–9615 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: 9320 Support 2: 9150
Resistance 1: 9615 Resistance 2: 9765
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