STOCK MARKET ANALYSIS AND NIFTY OUTLOOK : 18 OCTOBER 2011

STOCK MARKET REVIEW 

CNX Midcap index was down today: 17th October 2011, 0.04% about and S&P CNX 500 lost about 0.16% while BSE small cap index gained at 0.20% and Midcap lost at 0.97 Respectively.

The BSE Sensex ended at 17031.54 losing 51.51 points. The NSE Nifty closed at 5118.25 losing 14.05 points.

Market today closed negative after some selling pressure witnessed in the market. Huge expectation from TCS and other results coming today.

TREND : Bullish

Today’s Nifty Top gainers were:

TATAMOTORS with volume and changes 241, 31,153 and 4.50 %

CAIRN INDIA with volume and changes 13330.33and 3.7%

AMBUJA CEM with volume and changes 9,625,866and 2.5 %

Today’s Nifty Top losers were:

RELIANCE with volume and changes 24,140,815and [3.8] %

BPCL with volume and changes 10,238,349 and [3.5] %

NTPC with volume and changes 9,625,866and [2.7] %

Nifty can be expected to follow up trend in a long term. It seems to be vary between 5000-5200

TECHNICAL CALLS FOR TODAY

TCS

TCS closed today’s session at 1120.25. Support and resistance levels for the share for the next trading session are:

Resistance 1-1135

Resistance 2- 1150

Support 1- 1108

Support 2-1100

EDUCOMP

EDUCOMP has seen trading within the range of 267.60. Expected levels for this script are as follow:

Resistance 1-272

Resistance 2- 278.50

Support 1- 258

Support 2-251.50

SBI

SBI closed trading at 1891.70. Expected resistance and support levels for the scrip for the next trading session are:

Resistance 1-1935

Resistance 2- 1950

Support 1- 1882

Support 2-1865

NIFTY OUTLOOK FOR TODAY: 18^TH October 2011

NIFTY SPOT LEVEL
The Nifty Index opened at 5,156.20 and finally closed at 5,118.25 rallying down 14.05 points (0.27%) The Nifty high and low of the day were 5,160.20 and 5,084.50 respectively.

The Nifty Futures made a down rally of 21.35 points and finally settled at 4122 .The 30-share BSE Sensex was trading at 1,7025.09 down 57.60 points.

Market seems to be strongly trades between 5100-5150 in narrow perspective and in broad perspective it seems to be vary between 4950-5200.

SUPPORT AND RESISTANCE:

The Support and Resistance for Nifty Spot levels

Support 1: 5070     

Support 2: 5020

Resistance 1:5200    

Resistance 2: 5260

BANK NIFTY FUTURES

Bank Nifty Futures seems to be strongly a trade between 9600-9760  in narrow perspective and in broad perspective it seems to be vary between 9450-9800.

SUPPORT AND RESISTANCE:

The Support and Resistance for Bank Nifty Futures

Support 1: 9450     

Support 2: 9270

Resistance 1: 9760  

Resistance 2: 9980

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