Wednesday, December 28, 2011

STOCK MARKET CALLS | ANALYSIS | NIFTY OUTLOOK : 29 DECEMBER 2011

STOCK MARKET REVIEW: 28THDECEMBER 2011
The middle sideways consolidation pattern persisted even today with the main equity indices closing lower for the second day. The markets opened on a sluggish note and failed to recover from then on, hitting session lows in the afternoon.
NSE Nifty managed to keep its head above the 4700 mark after dipping under it in intraday trade. The NSE Nifty closed at 4,705, down 45 points over the previous close.  The BSE Sensex ended at 15,727, down 146 points over the previous close. It had earlier touched a day’s high of 15,887 and a day’s low of 15,666. It had opened at 15,854.
The BSE SMALL-CAP index and the BSE MIDCAP index were down 1% apiece.
CNX MIDCAP index was down -0.98% and S&P CNX 500 was down -0.98%.
THINGS TO KEEP AN EYE ON FOR TOMMOROW SESSION:
Events that could dictate the direction of the markets next month include corporate earnings, latest economic data, RBI’s policy action and trends in global markets. 
Today’s Nifty Top gainers were:
NTPC changed 2.8%.With volume 2,118,610
BHEL with volume 3,204,742 and changed 2.6%
TATA POWER changed 1.6% with volume of 5,649,736
Today’s Nifty Top losers were:
JINDAL STEEL volume 4,667,061and changed [7.1] %
PNB with volume 412,914and changed [4.2] %
ICICI with volume 3,731,427and changed [4.0] %

TECHNICAL CALLS FOR TODAY: 29th DECEMBER 2011
RAYMOND
RAYMOND Support and resistance levels for the next trading session are:
Resistance 1-309
Resistance 2-315
Support 1- 300
Support 2- 296
JINDAL STEEL
JINDAL is expected to vary between the following levels:
Resistance 1-464.50
Resistance 2-471.10
Support 1-450.20
Support 2-445.00
SINTEX
SINTEX Expected resistance and support levels for the next trading session are:
Resistance 1-64.40
Resistance 2-66.00
Support 1-61.65
Support 2-59.45

NIFTY OUTLOOK FOR TODAY 29thDECEMBER 2011

NIFTY SPOT LEVEL
TREND – BEARISH
SUPPORT AND RESISTANCE:
The Support and Resistance for Nifty Spot levels
SUPPORT LEVELS
Support 1: 4655
Support 2: 4595
RESISTANCE LEVELS
Resistance 1: 4765
Resistance 2: 4805

BANK NIFTY FUTURES
TREND- BEARISH
SUPPORT AND RESISTANCE:
The Support and Resistance for Bank Nifty Futures
SUPPORT LEVELS
Support 1: 8005
Support 2: 7905
RESISTANCE LEVELS 
Resistance 1: 8205
Resistance 2: 8315 

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