CNX Midcap index was down today: 3rd October 2011, 1.87% about and S&P CNX 500 lost about 1.89% while BSE small cap index and Midcap also lost at 1.48% and 1.90% Respectively.
The BSE Sensex ended at 16,151.45 losing 302.31 points. The NSE Nifty closed at 4,849.50 losing 93.75 points.
Monday proved itself to be a worst nightmare for the traders. Whole day sensex traded around 16151 nothing much could be done as there was very less movement in the spots.
Stock market is more likely to expect bearish.
Today’s Nifty Top gainers were:
BPCL with volume and changes 5,31,711 and 4.38 %
RPOWER with volume and changes 30,81,531 and 2.02 %
GAIL with volume and changes 10,62,712 and 1.86 %
Today’s Nifty Top losers were:
DLF with volume and changes 54,18,336 and 8.77 %
SAIL with volume and changes 42,25,764 and 4.69 %
TATA STEEL with volume and changes 50,50,576 and 4.89 %
Nifty can be expected to follow up trend in a long term. It seems to be vary between 4875-5055
TECHNICAL CALLS FOR TODAY
ABG SHIPYARD
ABGSHIPYARD closed today’s session at 387.70. Support and resistance levels for the share for the next trading session are:
Resistance 1-394.50
Resistance 2- 398.10
Support 1- 383.20
Support 2-379.50
MARUTI
MARUTI has seen trading within the range of 1077.75. Expected levels for this script are as follow:
Resistance 1-1091.20
Resistance 2- 1108.70
Support 1- 1062
Support 2-1054.20
NIFTY OUTLOOK FOR TODAY: 4th October 2011
The Nifty Index opened at 4,874.40 and finally closed at 4,849.50 rallying down 93.75 points (-1.90%) The Nifty high and low of the day were 4,879.15 and 4,823.90 respectively.
The Nifty Futures made a down rally of 93.75 points and finally settled at 4,849.50. The 30-share BSE Sensex was trading at 16,151.45 down 302.31 points.
Market seems to be strongly trades between 4815-4900 in narrow perspective and in broad perspective it seems to be vary between 4760-4945
Stock market is more likely to expect bearish
SUPPORT AND RESISTANCE:
The Support and Resistance Zone for Nifty Spot levels would be
Support 1:4815 Support 2:4760
Resistance 1:4900 Resistance 2:4945
Bank Nifty Futures seems to be strongly a trade between 9090–9295 in narrow perspective and in broad perspective it seems to be vary between 8950-9400.
SUPPORT AND RESISTANCE:
The Support and Resistance Zone for Bank Nifty Futures would be
Support 1: 9090 Support 2: 8950
Resistance 1: 9295 Resistance 2: 9400
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