STOCK MARKET REVIEW: 8th NOVEMBER 2011
CNX Midcap index was neutral today: 8th November 2011, 0.00% about and S&P CNX 500 lost about 0.04% while BSE small cap index lost at 0.17% and Midcap gained at 0.13% respectively.
The BSE Sensex ended at 17569.53 gaining 6.93 points. The NSE Nifty closed at 5289.35 gaining 5.15 points.
It was the Euro zone again which caused the market to panic. The market was very sideways whole day it moved in red for most of the day but with the outcome of export data it reversed in green. Some of the quarterly results also supported the rally and nifty finally ended at 5289.35.
Stock market is more likely to expect Bearish.
Today’s Nifty Top gainers were:
CAIRN INDIA with volume and changes 316,660,751.35and 4.9 %
RCOM with volume and changes 597,724,111.95and 4.3%
RPOWER with volume and changes 812,040,084.55and 4.1%
Today’s Nifty Top losers were:
BPCL with volume and changes 231,416,091.75and [3.3] %
SUNPHARMA with volume and changes 493,513,497.05and [2.7] %
IDFC with volume and changes 676,089,907.75and [2.6] %
Nifty can be expected to follow UP trend in a long term. It seems to be varying between 5200-5400.
TECHNICAL CALLS FOR TODAY: 9th NOVEMBER 2011
JSW STEEL
JSW STEEL closed today’s session at 703.40. Support and resistance levels for the share for the next trading session are:
Resistance 1-710
Resistance 2- 718
Support 1- 795
Support 2-787
JUPIN
LUPIN has seen trading within the range of 480.65. Expected levels for this script are as follow:
Resistance 1-486
Resistance 2- 492
Support 1- 475
Support 2-469
TATA COMM
TATA COMM closed trading at 186.80. Expected resistance and support levels for the scrip for the next trading session are:
Resistance 1-189
Resistance 2- 192
Support 1- 185
Support 2-182
NIFTY OUTLOOK FOR TODAY 9TH NOVEMBER 2011
NIFTY SPOT LEVEL
The Nifty Index opened at 5292.25 and finally closed at 5289.35 rallying up 5.15 points (0.10%) The Nifty high and low of the day were 5304.25 and 5252.00 respectively.
The Nifty Futures made a DOWNTREND of 5.85 points and finally settled at 5311. The 30-share BSE Sensex was trading at 17569.53 up 6.92 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: 5250 Support 2: 5195
Resistance 1:5330 Resistance 2: 5375
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: 9730 Support 2: 9635
Resistance 1:9980 Resistance 2: 10140
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