STOCK MARKET REVIEW
CNX Midcap index was up today: 23 august 2011, 1.51% about and S&P CNX 500 gained about 1.14% while BSE small cap index and Midcap also gained at 1.54% and 1.25% Respectively.
The BSE Sensex ended at 16,341.70 gaining 200.03 points. The NSE Nifty closed at 4,898.80 gaining 53.15points.
The key Indian stock indices ended with smart gains at the end of a choppy session, starting off the week on a positive note. Impressive buying was seen in Oil & Gas, Power, Metals, Capital Goods and FMCG stocks. Even the Mid-Cap and the Small-Cap stocks witnessed smart buying.
Overall trend would be bearish, But Indian Market expected to be open in green in first training session as US market is also expected tobe open on green.
Today’s Nifty Top gainers were:
SAIL with volume and changes 34,01,038 and 7.49 %
RCOM with volume and changes 62,88,719 and 6.90 %
IDFC with volume and changes 65,82,622 and 6.64 %
Today’s Nifty Top losers were:
GAIL with volume and changes 20,63,556 and 3.87 %
DLF with volume and changes 88,13,301 and 2.09 %
INFY with volume and changes 29,77,249 and 1.81 %.
Nifty can be expected to follow down trend. It seems to be vary between 4790-4990.
TECHNICAL CALLS FOR TODAY
INDIA GLYCOLSE LTD.
India Glycols ltd. Share closed the trading on NSE closed at Rs.126. support and resistance levels for the share for the next trading session are:
Resistance 1-129
Resistance 2- 132
Support 1- 124
Support 2- 122
Persistent Systems Ltd.
Persistent Systems, a leader in outsourced software product development (OPD) closed the session at 295.5. Expected levels for this script are as follow:
Resistance 1-310
Resistance 2- 314
Support 1- 289
Support 2- 286
NIFTY OUTLOOK FOR TODAY : 23 AUGUST 2011
NIFTY SPOT LEVEL
The Nifty Index opened at 4,843.70 and finally closed at 4,898.80 rallying UP 53.15 points (1.99%). The Nifty high and low of the day were 4,910.05 and 4,808.75respectively.
The Nifty Futures made a UP rally of 53.15points and finally settled at 4,898.80. The 30-share BSE Sensex was trading at 16,341.70 UP 200.03 points.
The key Indian stock indices ended with smart gains at the end of a choppy session, starting off the week on a positive note. Impressive buying was seen in Oil & Gas, Power, Metals, Capital Goods and FMCG stocks. Even the Mid-Cap and the Small-Cap stocks witnessed smart buying.
Market seems to be strongly trades between 4840-4940 in narrow perspective and in broad perspective it seems to be vary between 4790-4990.
SUPPORT AND RESISTANCE:
The Support and Resistance Zone for Nifty Spot levels would be
Support 1: 4840 Support 2: 4790
Resistance 1: 4940 Resistance 2: 4990
BANK NIFTY FUTURES
Bank Nifty Futures seems to be strongly a trade between 9280–9610 is looking bearish in narrow perspective and in broad perspective it seems to be vary between 9150-9765.
Overall trend would be bearish, But Indian Market expected to be open in green in first training session as US market is also expected tobe open on green.
SUPPORT AND RESISTANCE:
The Support and Resistance Zone for Bank Nifty Futures would be
Support 1: 9280 Support 2: 9150
Resistance 1: 9610 Resistance 2: 9765
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