STOCK MARKET REVIEW: 15th DECEMBER 2011
It could have been shoddier for Indian markets if did not have saved by the late afternoon recovery. The start was pretty bad and it looked like another disappointing session before the ‘U’ turn in afternoon. Meanwhile, the Rupee climbed back above 54 and was last trading at 53.75 per dollar after touching a new record low of 54.3050 in early morning trade.
BSE SENSEX closed at 15,836, down 45 points or 0.3% from the previous close. It had earlier been as high as 15,908 and as low as 15,596. It opened at 15,739. NSE NIFTY lost 17 points or 0.3% at 4,746 after hitting a day’s peak of 4,768 and a day’s low of 4,673. It had opened at 4,712.
The smart recovery in the Large-Cap shares didn’t translate into gains for the broader market. The BSE Small-Cap index and the BSE Mid-Cap index were down 1.5% and 1.1%, respectively. CNX MIDCAP index was down -0.75% and S&P CNX 500 lost around -1.53%.
THINGS TO KEEP AN EYE ON FOR TOMMOROW SESSION:
Tomorrow all eyes will be on the RBI monetary policy review. The RBI may abstain from any immediate policy action tomorrow but could hint at easing going forward. The central bank statement will be very crucial. A big headache for Indian policymakers at the moment is the pounding slide in the rupee. With the dollar in great demand and macro-economic fundamentals weak, the pressure is likely to continue on the Indian currency. That may, in turn keep FII inflows depressed.
Stock market is expected to remain on bearish trend.
Today’s Nifty Top gainers were:
TATA POWER changed 4.6 %.With volume 5,406,891
COAL INDIA changed 3.8 % with volume of 4,955,253
IDFC with volume 6,032,430 and changed 3.7%
Today’s Nifty Top losers were:
RANBAXY with volume 1,957,006 and changed [4.2] %
STERLITE with volume 7,680,477 and changed [3.9] %
BHARTI AIRTELL with volume 9,889,975 and changed [3.5] %
Nifty is expected to follow down trend in a long term. It seems to be varying between 4640-4850.
TECHNICAL CALLS FOR TODAY: 16TH DECEMBER 2011
PETRONET LNG
PETRONET LNG closed today’s session at 161.80. Support and resistance levels for the share for the next trading session are:
Resistance 1-164
Resistance 2-167
Support 1- 155
Support 2- 152
LUPIN
LUPIN has seen trading within the range of 434.55. Expected levels for this script are as follow:
Resistance 1-446
Resistance 2- 443
Support 1- 425
Support 2-416
HUL
HUL closed trading at 395.20 Expected resistance and support levels for the scrip for the next trading session are:
Resistance 1-361
Resistance 2-367
Support 1- 391
Support 2-386
NIFTY OUTLOOK FOR TODAY 16TH DECEMBER 2011
Market seems to be strongly trade between 4705-4805 in narrow perspective and in broad perspective it seems to be vary between 4640-4850.
TREND – BEARISH
SUPPORT AND RESISTANCE:
The Support and Resistance for Nifty Spot levels
SUPPORT LEVELS
Support 1: 4705
Support 2: 4640
RESISTANCE LEVELS
Resistance 1: 4805
Resistance 2: 4850
BANK NIFTY FUTURES
Bank Nifty Futures seems to be strongly trade between 8350-8575 in narrow perspective and in broad perspective it seems to be varying between 8265-8720.
TREND- BEARISH
SUPPORT AND RESISTANCE:
The Support and Resistance for Bank Nifty Futures
SUPPORT LEVELS
Support 1: 8350
Support 2: 8265
RESISTANCE LEVELS
Resistance 1: 8575
Resistance 2: 8720
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