Wednesday, November 23, 2011

STOCK MARKET CALLS | ANALYSIS | NFTY OUTLOOK : 24th NOVEMBER 2011


STOCK MARKET REVIEW: 23rd NOVEMBER 2011

CNX Midcap index was down today: 23rd November 2011, 1.68% about and S&P CNX 500 gained about 2.12% while BSE small cap index gained at 1.72% and Midcap gained at 2.05% respectively.

The BSE Sensex ended at 15699.97 loosing 365.45 points. The NSE Nifty closed at 4706.45 gaining 105.90 points.

Picture of the market was bearish from the start. It was just 32 points minus(nifty) but as the day progressed it fell in the free fall of gravity down. At one moment the market was almost 160 points down but soon it recovered and gave a 100 points negative close.

Stock market is more likely to expect BEARISH.

Today’s Nifty Top gainers were:
NTPC with volume and changes 2,209,213,587.95and 0.8 %
RCOM with volume and changes 871,774,674.70and 0.5%

Today’s Nifty Top losers were:
JP ASSOCIATES with volume and changes 950,357,803.05and [5.0] %
IDFC with volume and changes 617,717,909.40and [4.3] %
RANBAXY with volume and changes 187,053,342.50and [4.2] %

Nifty can be expected to follow UP trend in a long term. It seems to be varying between 4600-4800

TECHNICAL CALLS FOR TODAY: 24TH NOVEMBER 2011

TATAMOTORS
TATA MOTORS closed today’s session at 168.35. Support and resistance levels for the share for the next trading session are:
Resistance 1-172
Resistance 2- 176
Support 1- 165
Support 2-162

RCOM
RCOM has seen trading within the range of 70.35. Expected levels for this script are as follow:
Resistance 1-73
Resistance 2- 76
Support 1- 68
Support 2-64

PIPAVAV
PIPAVAV closed trading at 57.25 Expected resistance and support levels for the scrip for the next trading session are:
Resistance 1-58.50
Resistance 2- 60
Support 1- 55
Support 2-53

NIFTY OUTLOOK FOR TODAY 24TH NOVEMBER 2011

NIFTY SPOT LEVEL
The Nifty Index opened at 4779.50 and finally closed at 4706.50 rallying DOWN 105.90 points (2.20%) The Nifty high and low of the day were 4779.50 and 4640.95respectively.
The Nifty Futures made a UPTREND of 19.80 points and finally settled at 4810. The 30-share BSE Sensex was trading at 16065.42 UP 119.32 points.
Market seems to be strongly trades between 4760-4850 in narrow perspective and in broad perspective it seems to be vary between 4695-4905.
TREND – BEARISH.

SUPPORT AND RESISTANCE:
The Support and Resistance for Nifty Spot levels
Support 1: 4675   Support 2: 4610
Resistance 1:4740    Resistance 2: 4795

Bank Nifty Futures seems to be strongly a trade between 8470-8700 in narrow perspective and in broad perspective it seems to be vary between 8300-8860.
SUPPORT AND RESISTANCE:
The Support and Resistance for Bank Nifty Futures
Support 1: 8300    Support 2: 8190
Resistance 1: 8520 Resistance 2: 8660.

NIFTY SPOT LEVEL: 24th NOVEMBER 11

In upcoming trading session there is higher possibility that nifty spot manages between narrow range of 4675-4740, and if it breaks the level 4675 Then it would go down and next support would be 4610 and if it breaks the level 4740 then would go higher and next resistance would be 4795 i.e. Nifty would vary between broad range of 4610-4795.
BANK NIFTY FUTURES:  24th NOVEMBER 11

In upcoming trading session, Bank Nifty Futures is possible to vary between narrow ranges of 8300-8520, and if it breaks the level 8300 then it would go down up to next support 8190. If bank nifty futures sustain at 8190, then it would make high up to next resistance 8660, that is bank nifty future would vary between broad range of 8300-8660.









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