STOCK MARKET REVIEW
CNX Midcap index was UP today: 20 September 2011, 0.81% about and S&P CNX 500 gained about 1.74% while BSE small cap index and Midcap also gained at 1.23% and 0.90% Respectively.
The BSE Sensex ended at 17,099.28 losing 353.93 points. The NSE Nifty closed at 5,140.20 losing 108.25 points.
After two days of declines, bulls were back with a bang as the NSE Nifty surged over 100 points while the BSE Sensex shot up by more than 300 points on Tuesday. The key indices flourished despite weak cues from the US and select Asian markets. Sentiment got a boost after European markets rebounded after a soft start.
Stock market can be expected to be bullish in beginning.
Today’s Nifty Top gainers were:
RELCAPITAL with volume and changes 20,34,810 and 5.27 %
RPOWER with volume and changes 37,24,924 and 5.01 %
CAIRN with volume and changes 21,93,453 and 4.83 %
Today’s Nifty Top losers were:
RELINFRA with volume and changes 1,17,09,029 and 2.76 %
BHEL with volume and changes 11,38,783 and 0.60 %
BPCL with volume and changes 1,73,147 and 0.10%.
Nifty can be expected to follow down trend. It seems to be vary between 4915-5100.
TECHNICAL CALLS FOR TODAY
CHENNAI PETROLEUM
CHENNAI PETROLEUM closed trading AT 199.95 Expected resistance and support levels for the scrip for the next trading session are:
Resistance 1- 203
Resistance 2- 207
Support 1- 197
Support 2- 194
ESSAR OIL
ESSAR OIL closed trading at 94.60 on TUESDAY. Expected resistance and support levels for the scrip for the next trading session are:
Resistance 1- 97
Resistance 2- 99
Support 1- 91
Support 2- 88
STOCKS TO WATCH : 21 SEPTEMBER 2011
Buy VIP INDUSTRIES above at cmp
Book First Target at 1008 and Second at 1025
Keep stop loss 975.85
Buy M&M FUTURES at cmp
Book First Target at 824 and Second at 832
Keep stop loss 810.45
Buy RAJESH EXPORTS at cmp tg
Book First target at 141 and second at 144
Keep stop loss 134.45
Buy AANJANEYA at cmp
Book First target at 515 and second at 523
Keep stop loss 502.45
NIFTY OUTLOOK FOR TODAY: 21 SEPTEMBER 2011
NIFTY SPOT LEVEL
The Nifty Index opened at 5,042.55 and finally closed at 5,140.20 rallying down 108.25points (2.15%). The Nifty high and low of the day were 5,149.90 and 5,035.25 respectively.
The Nifty Futures made a up rally of 108.25 points and finally settled at 5,140.20. The 30-share BSE Sensex was trading at 17,099.28 up 353.93 points.
After two days of declines, bulls were back with a bang as the NSE Nifty surged over 100 points while the BSE Sensex shot up by more than 300 points on Tuesday. The key indices flourished despite weak cues from the US and select Asian markets. Sentiment got a boost after European markets rebounded after a soft start.
Market seems to be strongly trades between 5100-5180 in narrow perspective and in broad perspective it seems to be vary between 5050-5235
Tomorrow market is expected to be bullish.
SUPPORT AND RESISTANCE:
The Support and Resistance Zone for Nifty Spot levels would be
Support 1: 5100 Support 2: 5050
Resistance 1: 5180 Resistance 2: 5235
BANK NIFTY FUTURES
Bank Nifty Futures seems to be strongly a trade between 9700–9960 is looking bullish in narrow perspective and in broad perspective it seems to be vary between 9565-10175.
SUPPORT AND RESISTANCE:
The Support and Resistance Zone for Bank Nifty Futures would be
Support 1: 9700 Support 2: 9565
Resistance 1: 9960 Resistance 2: 10175
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