NIFTY LEVELS AND MARKET OVERVIEW : 26TH JULY 11

STOCK MARKET REVIEW

CNX Midcap index was up 0.75% about while BSE smallcap index also gained 0.50% The BSE Sensex was 18,871, up 149 points over the previous close. NSE Nifty was quoting 5,677, up 46 points over the previous close.

Markets extended rise for the second day after good gains in index heavyweights like RIL, Bharti Airtel, Reliance Communications, M&M, L&T. Auto, telecom, capital goods and pharma shares supported the markets. The Nifty hit highest level in more than two weeks.

Today’s Nifty Top gainer were  :

RCOM with volume and changes 3,15,61,087 and 13.84%

M&M with volume and changes 20,44,486 and  3.26%

AXISBANK with volume and changes 24,30,128 and  3.28%

Today’s Nifty Top losers were :

ITC with volume and changes 93,12,170 and 1.13 %

CIPLA  with volume and changes 12,36,691 and  1.54%

In upcoming trading session market  can be expected to follow uptrend. It seems to be vary between 5605   - 5780

TECHNICAL OUTLOOK FOR THE DAY

THOMAS COOK

THOMAS COOK is going to announce the quarter result on 26TH July. The script closed trading at 50.95.Expected resistance and support levels for the scrip for the next trading session are:

Resistance 1-52

Resistance 2- 53

Support 1- 50

Support 2- 49

PIDILITE INDUSTRIES

PIDILITE INDUSTRIES is going to announce its first quarter results on 26TH July. It has seen trading within the bounded range before the result day. expected resistance and support levels are:

Resistance 1-178

Resistance 2- 180

Support 1- 174 

Support 2- 171

NIFTY SPOT LEVEL
                                                                                                        

The Index opened up at  5,633.80 and finally closed at 5,680.30  rallying up +46.35 points (0.82%) The Intraday high and low of the day were 5,700.55 and 5,616.70 respectively.

The Nifty Futures also made an up rally of  46.35 points or (0.82%)  and finally settled at 5,680.30 . The 30-share BSE Sensex was trading at 18,871.29 up 148.99 points.

Markets extended rise for the second day after good gains in index heavyweights like RIL, Bharti Airtel, Reliance Communications, M&M, L&T. Auto, telecom, capital goods and pharma shares supported the markets. The Nifty hit highest level in more than two weeks.

In upcoming trading session market market can be expected to follow uptrend, strategy for tomorrow will be buy on dips .Seems to be strongly trades between 5645 – 5740  in  narrow perspective and in broad perspective it seems to be vary between 5605 - 5780

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Nifty Spot levels would be 

Support 1: 5645        Support 2 : 5605  

Resistance 1:  5740     Resistance 2: 5780

BANK NIFTY FUTURES

Bank Nifty Futures finally settled 11406 up by 96

In upcoming trading session market is expected to follow uptrend if it strongly trades between 11270–11505 is looking bearish in  narrow perspective and in broad perspective it seems to be vary between  11160  - 11625

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Bank Nifty Futures would be 

Support 1: 11270       Support 2:   11160   

Resistance 1: 11505   Resistance 2: 11625

STOCKS OF WATCH


Buy OBC at cmp.

Book first target at 378 and second target at 382.

Keep the  stop loss at 369.65

Buy AXIS BANK above the level1340.

Book first target at 1348 and Second target at 1360.

Keep the stop loss at 1325.45

Buy HCL TECH at cmp

Book first target at  521 and second target at 526

Keep the stop loss at 509.65

Buy TECH MAHINDRA at cmp.

Book first target at 779 and Second target at 788.

Keep the stop loss at 763.45

Buy BATA FUTURES above 645.

Book first target at  648 and second target at 653.

Keep stoploss at  stop loss 640.85