Tuesday, November 1, 2011

STOCK MARKET ANALYSIS AND NIFTY OUTLOOK : 2ND NOVEMBER 2011


STOCK MARKET REVIEW: 1st NOVEMBER 2011

CNX Midcap index was down today: 1st November 2011, 0.82% about and S&P CNX 500 lost about 1.10% while BSE small cap index lost at 0.55% and Midcap lost at 0.69% respectively.
The BSE Sensex ended at 17480.83 losing 224.18 points. The NSE Nifty closed at 5257.95 losing 68.65 points.
Negative seen everywhere after yesterday closing it was expected that it can open red but form opening till closing it have huge negative run after the global cues from European markets.
Stock market is more likely to expect Bearish.

Today’s Nifty Top gainers were:
PNB with volume and changes 356,476,592.55and 3.7 %
HUL with volume and changes 2,934,294,483.75and 3.3%
WIPRO with volume and changes 1,319,498,997.25and 1.4 %

Today’s Nifty Top losers were:
ICICI with volume and changes 5,067,551,598.65and [3.9] %
REL INFRA with volume and changes 631,038,252.20and [3.8] %
DR. REDDY with volume and changes 505,601,178.75and [3.6] %

Nifty can be expected to follow UP trend in a long term. It seems to be varying between 5200-5400.

TECHNICAL CALLS FOR TODAY: 2ND NOVEMBER 2011

ALLAHABAD BANK
ALLAHABAD BANK closed today’s session at 148.95. Support and resistance levels for the share for the next trading session are:
Resistance 1-151
Resistance 2- 155
Support 1- 143
Support 2-139

JUBILANT IND
JUBILANT IND has seen trading within the range of 189.25. Expected levels for this script are as follow:
Resistance 1-191
Resistance 2- 194
Support 1- 187.50
Support 2-185

BERGER PAINTS
BERGER PAINTS closed trading at 103.70. Expected resistance and support levels for the scrip for the next trading session are:
Resistance 1-105
Resistance 2- 107.50
Support 1- 101.50
Support 2-99.80

NIFTY OUTLOOK FOR TODAY 2ND NOVEMBER 2011
NIFTY SPOT LEVEL
                                                                                                          
The Nifty Index opened at 5278.60 and finally closed at 5257.95 rallying down 68.65 points (1.29%) The Nifty high and low of the day were 5310.85 and 5238.30 respectively.
The Nifty Futures made a downtrend of 57.65 points and finally settled at 5289.45. The 30-share BSE Sensex was trading at 17480.83 down 224.18 points.

Market seems to be strongly trades between 5200-5300 in narrow perspective and in broad perspective it seems to be vary between 5100-5500.

TREND -- BEARISH.

SUPPORT AND RESISTANCE:
The Support and Resistance for Nifty Spot levels
Support 1: 5215   Support 2: 5170
Resistance 1:5290    Resistance 2: 5325
BANK NIFTY FUTURES

Bank Nifty Futures seems to be strongly a trade between 9800-10100 in narrow perspective and in broad perspective it seems to be vary between 9750-10300.

SUPPORT AND RESISTANCE:
The Support and Resistance for Bank Nifty Futures
Support 1: 9710    Support 2: 9600
Resistance 1:9970 Resistance 2: 10140

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