STOCK MARKET CALLS | ANALYSIS | NIFTY OUTLOOK : 17TH JANUARY 2012

STOCK MARKET REVIEW: 16^THJANUARY 2012

It was a cautious start to the week for the Indian stocks, as the benchmark indices ended almost unchanged. The equity benchmarks managed to

coped quite well with Standard & Poor's mass sovereign downgrades in Europe as inflation fell to a two-year low -7.5% in December and India's exports surging by 26% during April-December 2011 and could hit US$300bn for the full fiscal year. 

SENSEX ended at 16,189, up 34 points from the last close. It earlier touched a day's high of 16,257 after opening at a day's low of 16,049. The NIFTY settled at 4,874, up 8 points. It hit a day’s high of 4,880 and day’s low of 4,827.

The Small-Cap index rose 0.3% while the Mid-Cap index remained unchanged.CNX MIDCAP 50 index was up 0.03% and S&P CNX 500 was up 0.16%.

Today’s Nifty Top gainers were:

• BHEL changed 3.8% with 15,398,000 volumes 
• MARUTI changed 3.2% with 3,733,000 volumes 
• STERLITE changed 2.7% with 3,106,000 volumes

Today’s Nifty Top losers were:

• R.POWER with volume 58,000 and changed -2.9%
• NTPC with volume 58,000 and changed -2.6%
• RELIANCE INDUS. with volume 2,838,000 and changed -2.6%

TECHNICAL CALLS FOR TODAY: 17^TH JANUARY 2012

ADANI ENTERPRICES

ADANI ENTERPRICES ended yesterday’s market session at 356.50. Support and resistance levels for the next trading session are:

Resistance 1-361

Resistance 2-367

Support 1- 352

Support 2- 349

IDBI

IDBI  is expected to vary between the following levels:

Resistance 1-94

Resistance 2-96

Support 1-87

Support 2-85

MPHASIS

MPHASIS Expected resistance and support levels for the next trading session are:

Resistance 1-356

Resistance 2-349

Support 1-341

Support 2-335

NIFTY OUTLOOK FOR TODAY 17^TH JANUARY 2012

NIFTY SPOT LEVEL

TREND – BEARISH

SUPPORT AND RESISTANCE:

The Support and Resistance for Nifty Spot levels

SUPPORT LEVELS

Support 1: 4825

Support 2: 4775

RESISTANCE LEVELS

Resistance 1: 4935

Resistance 2: 4985

BANK NIFTY FUTURES

TREND- BEARISH

SUPPORT AND RESISTANCE:

The Support and Resistance for Bank Nifty Futures

SUPPORT LEVELS

Support 1: 8865

Support 2: 8755

RESISTANCE LEVELS 

Resistance 1: 9075

Resistance 2: 9185