STOCK MARKET ANALYSIS AND NIFTY OUTLOOK : 5TH OCTOBER 2011

STOCK MARKET REVIEW 

CNX Midcap index was down today: 4th October 2011, 1.21% about and S&P CNX 500 lost about 1.52% while BSE small cap index and Midcap also lost at 1.09% and 1.28% Respectively.

The BSE Sensex ended at 15,864.86 losing 286.59 points. The NSE Nifty closed at 4,772.15 losing 77.35 points.

It was a bloody Tuesday as the ratings of SBI were downgraded from C- to D+, it cause the sensex to suffer 400 points after the news more over the European concerns are still dominant which is giving no relief to Indian and world market.

Stock market is more likely to expect bearish.

Today’s Nifty Top gainers were:

MARUTI with volume and changes 17,55,670 and 2.57 %

LT with volume and changes 29,26,169 and 2.11 %

WIPRO with volume and changes  12,05,540 and 1.97%

Today’s Nifty Top losers were:

TATAMOTORS with volume and changes 1,75,89,856 and 4.85 %

ICICI BANK with volume and changes 58,28,022 and 4.43 %

M&M with volume and changes 20,07,211 and 4.31 %

Nifty can be expected to follow up trend in a long term. It seems to be vary between 4680-4875

TECHNICAL CALLS FOR TODAY

BHARTI AIRTEL

BHARTI AIRTEL closed today’s session at 369.90. Support and resistance levels for the share for the next trading session are:

Resistance 1-376.10

Resistance 2- 380.20

Support 1- 365

Support 2- 360.50

MARUTI

MARUTI has seen trading within the range of 1107.85. Expected levels for this script are as follow:

Resistance 1-1119

Resistance 2- 1127

Support 1- 1095

Support 2-1080

NIFTY OUTLOOK FOR TODAY: 5^th October 2011

NIFTY SPOT LEVEL
                                                                                                          

The Nifty Index opened at 4,823.50 and finally closed at 4,772.15 rallying down 77.35 points (1.60%) The Nifty high and low of the day were 4,869.75 and 4,728.30 respectively.

The Nifty Futures made a down rally of 77.35 points and finally settled at 4,772.15. The 30-share BSE Sensex was trading at 15,864.86 down 286.59 points.

Market seems to be strongly trades between 4725-4825in narrow perspective and in broad perspective it seems to be vary between 4680-4875

Stock market is more likely to expect bearish

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Nifty Spot levels would be

Support 1: 4725     Support 2: 4680

Resistance 1: 4825     Resistance 2: 4875

BANK NIFTY FUTURES

Bank Nifty Futures seems to be strongly a trade between 8725–9055  in narrow perspective and in broad perspective it seems to be vary between 8600-9170.

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Bank Nifty Futures would be 

Support 1: 8725      Support 2: 8600

Resistance 1: 9055   Resistance 2: 9170