Monday, December 5, 2011

STOCK MARKET ANALYSIS | CALLS | NIFTY OUTLOOK : 7TH DECEMBER 2011


STOCK MARKET REVIEW: 5th DECEMBER 2011
CNX Midcap index was DOWN today: 5TH DECEMBER 2011, 0.01% about and S&P CNX 500 LOST about 0.11% while BSE small cap index GAINED at 0.09% and Midcap LOST at 0.05% respectively.
The BSE Sensex ended at 16805.33 LOSING 41.50 points. The NSE Nifty closed at 5039.15 losing 11 points.
Uncertainity in the market caused the market to shift towards bearish zone. Many a times market tried to move in green zone but failed at last to close green. Retail sector was down due to pressure of the allies not supporting the front. Global uncertainity also causing the market to panic and thus market failed to perform in uptrend
Stock market is more likely to expect bearish.
Today’s Nifty Top gainers were:
JP ASSOCIATES with volume and changes 1,083,556,537.40and 2.8 %
AXIS BANK with volume and changes 2,596,874,829.55and 2.6%
BHEL with volume and changes 279,692,814.85and 2.2%
Today’s Nifty Top losers were:
RELIANCE POWER with volume and changes 217,799,800.90and [2.4] %
HCL with volume and changes 338,674,781.75and [2.4] %
SAIL with volume and changes 3,301,819,398.40and [2.1] %
Nifty can be expected to follow UP trend in a long term. It seems to be varying between 4900-5100.
TECHNICAL CALLS FOR TODAY: 7TH DECEMBER  2011
TCS
TCS closed today’s session at 1180.95. Support and resistance levels for the share for the next trading session are:
Resistance 1-1190
Resistance 2- 1200
Support 1- 1172
Support 2-1164
JSW STEEL
JSW STEEL has seen trading within the range of 611.95. Expected levels for this script are as follow:
Resistance 1-618
Resistance 2- 624
Support 1- 605
Support 2-600
BANK OF INDIA
BANK OF INDIA closed trading at 346.65 Expected resistance and support levels for the scrip for the next trading session are:
Resistance 1-350
Resistance 2- 354
Support 1- 342
Support 2-339

NIFTY OUTLOOK FOR TODAY 7TH DECEMBER 2011
NIFTY SPOT LEVEL
The Nifty Index opened at 5036.50 and finally closed at 5039.15 rallying DOWN 11 points (0.22%) The Nifty high and low of the day were 5055.40 and 5002.50 respectively.
The Nifty Futures made an DOWNTREND of 8.5 points and finally settled at 5072.45. The 30-share BSE Sensex was trading at 16805.33 DOWN 41.25 points.
Market seems to be strongly trades between 5020-5085 in narrow perspective and in broad perspective it seems to be vary between 4975-5130.
TREND – BULLISH.
SUPPORT AND RESISTANCE:
The Support and Resistance for Nifty Spot levels
Support 1: 5020   Support 2: 4975
Resistance 1:5085    Resistance 2: 5130

BANK NIFTY FUTURES
Bank Nifty Futures seems to be strongly a trade between 9100-9350 in narrow perspective and in broad perspective it seems to be vary between 8950-9470.
SUPPORT AND RESISTANCE:
The Support and Resistance for Bank Nifty Futures
Support 1: 9100 Support 2: 8950
Resistance 1: 9350 Resistance 2: 9470

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