STOCK MARKET ANALYSIS AND NIFTY OUTLOOK : 19 OCT 2011

STOCK MARKET REVIEW  18TH OCT 2011

CNX Midcap index was down today: 18th October 2011, 1.26% about and S&P CNX 500 lost about 1.36% while BSE small cap index lost at 0.96% and Midcap lost at 1.20% respectively.

The BSE Sensex ended at 16767.03 losing 258.03 points. The NSE Nifty closed at 5047.95 losing 80.75 points.

Markets were expecting positive opening today but Global news hit the market so hard that Sensex opened almost 200 points down. All the Asian markets opened in red and there is heavy selling witnessed. Results also impacted the market with some good and bad results.

Stock market is more likely to expect BEARISH.

Today’s Nifty Top gainers were:

COAL INDIA with volume and changes 2,027,944,426.45and 2.8 %

BPCL with volume and changes 251,900,123.90and 1.5%

RANBAXY with volume and changes 122,271,008.65and 1.1 %

Today’s Nifty Top losers were:

HCL TECH with volume and changes 483,474,773.10and [8.7] %

TCS with volume and changes 2,458,659,388.25 and [7.7] %

HINDALCO with volume and changes 1,330,981,257.15and [3.7] %

Nifty can be expected to follow down trend in a long term. It seems to be vary between 4900-5100

TECHNICAL CALLS FOR TODAY 19 OCT 2011

HDFC BANK

HDFC BANK closed today’s session at 478.15. Support and resistance levels for the share for the next trading session are:

Resistance 1-482

Resistance 2- 486.50

Support 1- 473.50

Support 2-469.20

INDRAPRASTHA GAS

INDRAPRASTHA GAS has seen trading within the range of 395.75. Expected levels for this script are as follow:

Resistance 1-402.50

Resistance 2- 406.30

Support 1- 389

Support 2-385.50

DISH TV

DISH TV closed trading at 76.80. Expected resistance and support levels for the scrip for the next trading session are:

Resistance 1-78.10

Resistance 2- 80

Support 1- 75

Support 2-71.50

NIFTY OUTLOOK FOR TODAY 19^TH October 2011

NIFTY SPOT LEVEL
                                                                                                          

The Nifty Index opened at 5049.50 and finally closed at 5037.50 rallying down 80.75 points (1.58%) The Nifty high and low of the day were 5057.50 and 5011.05 respectively.

The Nifty Futures made a down rally of 60.65 points and finally settled at 5022.20. The 30-share BSE Sensex was trading at 16748.29 down 276.80 points.

Market seems to be strongly trades between 4900-5050 in narrow perspective and in broad perspective it seems to be vary between 4800-5200.

TREND -- BEARISH.

SUPPORT AND RESISTANCE:

The Support and Resistance for Nifty Spot levels

Support 1: 4970    

Support 2: 4920

Resistance 1:5070    

Resistance 2: 5140

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: 9420     

Support 2: 9270

Resistance 1: 9690  

Resistance 2: 9750

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