Friday, December 23, 2011

STOCK MARKET CALLS | ANALYSIS | NIFTY OUTLOOK : 26TH DECEMBER 2011

STOCK MARKET REVIEW: 23rdDECEMBER 2011
Indian stock indices have slipped in the afternoon trade after hitting day's high in early morning trade, as European indices have erased some of their gains after a higher opening. In this way the week ended in the red zone signaling the bad start of last week of the year 2011.
BSE SENSEX was 15,747, down 65 points over the previous close. It had earlier touched a day’s high of 15,911 and a day’s low of 15,711. It opened at 15,863.
NSE NIFTY was quoting 4,712, down 21 points over the previous close.
CNX MIDCAP index was down -.34% and S&P CNX 500 lost around -0.38%.
The BSE Small-Cap index was up 1%. and the BSE Mid-Cap index was up around 0.07%.
THINGS TO KEEP AN EYE ON FOR TOMMOROW SESSION:
Coming week will be the important week as it is the last week of the year and last week of the third quarter.
Stock market is expected to remain on bearish trend.
Today’s Nifty Top gainers were:
WIPRO changed 2.1%.With volume 1,150,850
BHEL with volume 3,485,309 and changed 2.1%
GRASIM changed 1.9% with volume of 64,047
Today’s Nifty Top losers were:
RANBAXY volume 744,828 and changed [3.2] %
NTPC with volume 2,309,417 and changed [3.1] %
BPCL with volume 649,455 and changed [2.9] %
TECHNICAL CALLS FOR TODAY: 26th DECEMBER 2011
WIPRO
WIPRO closed today’s session at 406. Support and resistance levels for the share for the next trading session are:
Resistance 1-409
Resistance 2-416
Support 1- 398
Support 2- 391
AXIS BANK
AXIS BANK has closed at 880.30. Expected levels for this script are as follow:
Resistance 1-889
Resistance 2-896
Support 1- 876
Support 2- 869
BHEL
BHEL closed trading at 241 Expected resistance and support levels for the scrip for the next trading session are:
Resistance 1-245
Resistance 2-250
Support 1-236
Support 2-231 
NIFTY OUTLOOK FOR TODAY 26th DECEMBER 2011
NIFTY SPOT LEVEL 
TREND – BEARISH
SUPPORT AND RESISTANCE:
The Support and Resistance for Nifty Spot levels
SUPPORT LEVELS
Support 1: 4660
Support 2: 4610
RESISTANCE LEVELS
Resistance 1: 4765
Resistance 2: 4820

BANK NIFTY FUTURES
Bank Nifty Futures seems to be strongly trade between 8290-8485 in narrow perspective and in broad perspective it seems to be varying between 8175-8595.
TREND- BEARISH
SUPPORT AND RESISTANCE:
The Support and Resistance for Bank Nifty Futures
SUPPORT LEVELS
Support 1: 8205
Support 2: 8110
RESISTANCE LEVELS 
Resistance 1: 8410
Resistance 2: 8525

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