STOCK MARKET REVIEW
CNX Midcap index was down today: 12 September 2011, 2.40% about and S&P CNX 500 lost about 2.13% while BSE small cap index and Midcap also lost at 1.86% and 1.84% Respectively.
The BSE Sensex ended at 16,501.74 losing 365.23 points. The NSE Nifty closed at 4,946.80 losing 112.65 points.
It was the second successive trading session where the Indian markets closed with heavy losses. Markets opened with a gap down, tracking overnight losses in the US and the Asian markets. As the day progressed, disappointing IIP data further dampened the sentiment. The Industrial Production for the month of July fell to 3.3% against market expectation of 6.6%.
Tomorrow market is expected to be bearish.
Today’s Nifty Top gainers were:
AMBUJACEMENT with volume and changes 28,08,162 and 5.98 %
HUL with volume and changes 48,58,629 and 3.65 %
SUNPHARMA with volume and changes 9,30,834 and 1.80 %
Today’s Nifty Top losers were:
HCLTECH with volume and changes 14,21,081 and -7.64 %
RPOWER with volume and changes 42,51,074 and -5.51 %
HINDALCO with volume and changes 63,80,669 and -5.34 %.
Nifty can be expected to follow down trend. It seems to be vary between 4850-5020.
TECHNICAL CALLS FOR TODAY
JK CEMENT
JK CEMENT Shares closed the today’s session at 114.60. Support and resistance levels for the share for the next trading session are:
Resistance 1-116
Resistance 2- 121
Support 1- 109
Support 2- 105
SUZLON ENERGY
SUZLON ENERGY has seen trading within the range of 38 to 40 on Monday. Expected levels for this script are as follow:
Resistance 1- 41
Resistance 2- 45
Support 1- 37
Support 2- 35
STOCKS TO WATCH : 13 SEPTEMBER 2011
Buy PIPAVAV SHIPYARD above 92
Book First target at 93.50 and Second at 96
Keep the stop loss at 90.15
Buy HUL FUTURES above 350
Book first target at 352 and second at 356
Keep the stop loss at 346,45
NIFTY OUTLOOK FOR TODAY: 13 SEPTEMBER 2011
NIFTY SPOT LEVEL
The Nifty Index opened at 4,981.70 and finally closed at 4,946.80 rallying down 112.65 points (2.23%). The Nifty high and low of the day were 4,985.60 and 4,911.25 respectively.
The Nifty Futures made a down rally of 112.65 points and finally settled at 4,946.80. The16,501.74 down 365.23 points. 30-share BSE Sensex was trading at
It was the second successive trading session where the Indian markets closed with heavy losses. Markets opened with a gap down, tracking overnight losses in the US and the Asian markets. As the day progressed, disappointing IIP data further dampened the sentiment. The Industrial Production for the month of July fell to 3.3% against market expectation of 6.6%.
Market seems to be strongly trades between 4900-4985 in narrow perspective and in broad perspective it seems to be vary between 4850-5020
Tomorrow market is expected to be bearish.
SUPPORT AND RESISTANCE:
The Support and Resistance Zone for Nifty Spot levels would be
Support 1: 4900 Support 2: 4850
Resistance 1: 4985 Resistance 2: 5020
BANK NIFTY FUTURES
Bank Nifty Futures seems to be strongly a trade between 9230–9600 is looking bearish in narrow perspective and in broad perspective it seems to be vary between 9060-9700.
SUPPORT AND RESISTANCE:
The Support and Resistance Zone for Bank Nifty Futures would be
Support 1: 9230 Support 2: 9060
Resistance 1: 9600 Resistance 2: 9700
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