STOCK MARKET CALLS | NIFTY OUTLOOK | ANALYSIS 28TH JUNE 2012

NIFTY OUTLOOK FOR ^28TH  JUNE  2012

NIFTY SPOT LEVEL   

TREND – BEARISH

SUPPORT 1	5125
SUPPORT 2	5110
RESISTANCE 1	5155
RESISTANCE 2	5175

BANK NIFTY FUTURES   

TREND- BEARISH

SUPPORT 1	9960
SUPPORT 2	9915
RESISTANCE 1	10080
RESISTANCE 2	10150

EXPERT VIEW

Keep the focus on stock market

Edelweiss AMC 's Investment Advisory Group - Head Piyush Chadha says that the market boom of the past few days is just a short recovery. So keep an eye on the market to invest in the shares could be better. Indian markets are expected to be currently in scope.

Piyush Chadha believes that interest rates and the global economy does not improve as long as the markets will not come up. Further declines in interest rates if the private sector banks and NBFCs are advised to invest in stocks. Interest rate cuts will benefit the most cap bank stocks. If the Nifty to 4800-4500 levels would be extremely attractive valuation. So, every long-term investor buying at these levels should adopt the approach.

STOCK MARKET REVIEW: 27TH JUN 2012

BSE Small-Cap index was up 0.32% while the BSE Mid-Cap index finished 0.36% up.CNX MIDCAP 50 index was up 0.39% and S&P CNX 500 was up around 0.39%. The SENSEX closed 60 points up at 16,967 and the NIFTY stood at 5,141 up by 19 points.

BSE SENSEX and NIFTY traded in a tight range bound session for the second consecutive day and ended with nominal gains as investors avoided fresh positions ahead of F&O expiry tomorrow. European markets also traded slightly higher as traders and investors have a close eye over the European Union summit scheduled on 28-29 JUN. Indian rupee appreciated by 23 paise against the DOLLAR from previous closing at the closing time of Indian equities. However Metal and Technology stocks topped the buying list today as Tata Steel and Sterlite ended with 2.53 percent and 1.79 percent gains respectively while Tata Motors, Kotak Bank and ACC traded under pressure.

Nifty Gainers

Today’s nifty top gainer were:

SESAGOA changed 3.66% with 22, 60,662 volumes

IDFC changed 3.41% with 64, 98,827 volumes

TATASTEEL changed 2.53% with 32, 71,282 volumes

Nifty Losers

Today’s nifty top losers were:

TATAMOTORS with volume 92, 37,592 and changed -3.16%

CAIRNS with volume 19, 91,151 and changed -1.40%

KOTAKBANK with volume 11, 83,305 and changed -1.37%

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