STOCK MARKET REVIEW
CNX Midcap index was down today: 5th October 2011, 0.78% about and S&P CNX 500 lost about 0.51% while BSE small cap index and Midcap also lost at 0.90% and 0.97% Respectively.
The BSE Sensex ended at 15,792.41 losing 72.45 points. The NSE Nifty closed at 4,751.30 losing 20.85 points.
Market today also closed at negative after the news from PMI data that it has gone down and reached the lowest since april 2009.
Stock market is more likely to expect bearish.
Today’s Nifty Top gainers were:
JPASSOCIAT with volume and changes 2,81,58,714 and 4.38 %
DLF with volume and changes 58,22,682 and 3.24 %
SUNPHARMA with volume and changes 10,51,674 and 2.48 %
Today’s Nifty Top losers were:
SBIN with volume and changes 62,73,926 and 4.22 %
HINDALCO with volume and changes 1,39,29,985 and 3.80 %
BHEL with volume and changes 20,63,794 and 3.40 %
Nifty can be expected to follow up trend in a long term. It seems to be vary between 4875-5055
TECHNICAL CALLS FOR TODAY
ICICI
ICICI closed today’s session at 779.25. Support and resistance levels for the share for the next trading session are:
Resistance 1-788
Resistance 2- 802
Support 1- 770
Support 2-762
EDUCOMP
EDUCOMP has seen trading within the range of 243.25. Expected levels for this script are as follow:
Resistance 1-246.50
Resistance 2- 249.50
Support 1- 240
Support 2-237
SBI
SBI closed trading at 1718.40. Expected resistance and support levels for the scrip for the next trading session are:
Resistance 1-1742
Resistance 2- 1775
Support 1- 1700
Support 2-1680
NIFTY OUTLOOK FOR TODAY: 7TH October 2011
The Nifty Index opened at 4,791.30 and finally closed at 4,751.30 rallying down 20.85 points (0.44%) The Nifty high and low of the day were 4,827.80 and 4,741.00 respectively.
The Nifty Futures made a down rally of 20.85 points and finally settled at 4,751.30 . The 30-share BSE Sensex was trading at 15,792.41 down 72.45 points.
Market seems to be strongly trades between 4715-4785 in narrow perspective and in broad perspective it seems to be vary between 4670-4830
Stock market is more likely to expect bearish
SUPPORT AND RESISTANCE:
The Support and Resistance Zone for Nifty Spot levels would be
Support 1: 4715 Support 2: 4670
Resistance 1: 4785 Resistance 2: 4830
Bank Nifty Futures seems to be strongly a trade between 8540–8825 in narrow perspective and in broad perspective it seems to be vary between 8410-9170.
SUPPORT AND RESISTANCE:
The Support and Resistance Zone for Bank Nifty Futures would be
Support 1: 8540 Support 2: 8410
Resistance 1: 8825 Resistance 2: 8960
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