STOCK MARKET REVIEW
CNX Midcap index was up today: 24 august 2011, 1.18 % about and S&P CNX 500 gained about 1.01% while BSE small cap index and Midcap also gained at 1.16% and 0.95% Respectively.
The BSE Sensex ended at 16,498.47 gaining 156.77 points. The NSE Nifty closed at 4,948.90 gaining 50.10 points.
Stock indices reference seemed to find the rhythm of today, as bargain hunting was seen as the IT stocks that were beaten in the recent collapses.
Overall trend would be bullish and market is expected to be open in green in first training session as US market is also expected to be open on green. All sentimental are supporting them. One cannot neglect the fact that the FIIs continue to be net sellers in the Indian share markets. So it would be wise to remain cautious.
Today’s Nifty Top gainers were:
TCS with volume and changes 24,37,335 and 7.08 %
BAJAJAUTO with volume and changes 7,08,844 and 4.30 %
INFY with volume and changes 21,42,930 and 3.34 %
Today’s Nifty Top losers were:
ONGC with volume and changes 30,46,868 and 2.78%
CIPLA with volume and changes 16,35,742 and 2.76 %
POWERGRID with volume and changes 15,96,056 and 2.08 %.
Nifty can be expected to follow down trend. It seems to be vary between 9250-9765.
TECHNICAL CALLS FOR TODAY
BGR ENERGY
Having successfully executed BOP contracts, it has begun to focus on Engineering, Procurement and Construction ("EPC") contracts, in which it Design, Engineer and Supply all of the equipment required for a Power Plant including the Boiler, Turbine and Generator and Civil works. It closed on NSE at RS.322.75
Resistance 1-330
Resistance 2- 331.5
Support 1- 315
Support 2- 313
LOVABLE LINGERIE
Lovable lingerie, which has extraordinarily showed the boom in last few months, closed on NSE at 535.3. Expected levels for this script are as follow:
Resistance 1-542.5
Resistance 2- 544
Support 1- 515
Support 2- 510
STOCKS TO WATCH
NIFTY OUTLOOK FOR TODAY : 24 AUGUST 2011
NIFTY SPOT LEVEL
The Nifty Index opened at 4,925.15 and finally closed at 4,948.90 rallying UP 50.10 points (1.02%). The Nifty high and low of the day were 4,965.80 and 4,863.80 respectively.
The Nifty Futures made a UP rally of 50.10 points and finally settled at 4,948.90. The 30-share BSE Sensex was trading at 16,498.47 UP 156.77 points.
Stock indices reference seemed to find the rhythm of today, as bargain hunting was seen as the IT stocks that were beaten in the recent collapses.
Overall trend would be bullish and market is expected to be open in green in first training session as US market is also expected to be open on green. All sentimental are supporting them. One cannot neglect the fact that the FIIs continue to be net sellers in the Indian share markets. So it would be wise to remain cautious.
Market seems to be strongly trades between 4900-4990 in narrow perspective and in broad perspective it seems to be vary between 4860-5025.
SUPPORT AND RESISTANCE:
The Support and Resistance Zone for Nifty Spot levels would be
Support 1: 4900 Support 2: 4860
Resistance 1: 4990 Resistance 2: 5025
BANK NIFTY FUTURES
Bank Nifty Futures seems to be strongly a trade between 9370–9600 is looking bullish in narrow perspective and in broad perspective it seems to be vary between 9250-9765.
SUPPORT AND RESISTANCE:
The Support and Resistance Zone for Bank Nifty Futures would be
Support 1: 9370 Support 2: 9250
Resistance 1: 9600 Resistance 2: 9715
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