STOCK MARKET REVIEW: 31st October 2011
CNX Midcap index was up today: 31st October 2011, 0.38% about and S&P CNX 500 lost about 0.33% while BSE small cap index gained at 0.21% and Midcap gained at 0.37% respectively.
The BSE Sensex ended at 17705.01 losing 99.79 points. The NSE Nifty closed at 5326.60 losing 34.10 points.
Bear dominated the show from very start today after a very strong gain on Friday which was due to very good global cues. There was a profit booking seen everywhere except for those shares whose quarterly result opened.
Stock market is more likely to expect Bearish.
Today’s Nifty Top gainers were:
HUL with volume and changes 1,217,795,901.10and 7.1 %
HDFC BANK with volume and changes 2,179,387,991.00and 1.5%
PNB with volume and changes 168,937,198.90and 1.4 %
Today’s Nifty Top losers were:
HINDALCO with volume and changes 4,482,235,613.15and [4.5] %
STERLITE with volume and changes 1,907,900,722.80and [4.1] %
TATA MOTOR with volume and changes 3,658,773,095.10and [4.0] %
Nifty can be expected to follow UP trend in a long term. It seems to be varying between 5200-5400.
TECHNICAL CALLS FOR TODAY : 1ST NOVEMBER 2011
BATA INDIA
BATA INDIA closed today’s session at 724.55. Support and resistance levels for the share for the next trading session are:
Resistance 1-730
Resistance 2- 742
Support 1- 713
Support 2-703
RAJESH EXPORTS
RAJESH EXPORTS has seen trading within the range of 149.50. Expected levels for this script are as follow:
Resistance 1-151.60
Resistance 2- 153
Support 1- 147.50
Support 2-145
ICICI BANK
ICICI BANK closed trading at 931.15. Expected resistance and support levels for the scrip for the next trading session are:
Resistance 1-942
Resistance 2- 956
Support 1- 922
Support 2-910
NIFTY OUTLOOK FOR TODAY 1ST NOVEMBER 2011
The Nifty Index opened at 5358.90 and finally closed at 5326.10 rallying down 34.10 points (0.64%) The Nifty high and low of the day were 5360.25 and 5314.60 respectively.
The Nifty Futures made a downtrend of 38.65 points and finally settled at 5346.85. The 30-share BSE Sensex was trading at 17705.01 down 99.79 points.
Market seems to be strongly trades between 5250-5400 in narrow perspective and in broad perspective it seems to be vary between 5100-5500.
TREND -- BEARISH.
SUPPORT AND RESISTANCE:
The Support and Resistance for Nifty Spot levels
Support 1: 5270 Support 2: 5200
Resistance 1:5360 Resistance 2: 5420
Bank Nifty Futures seems to be strongly a trade between 9800-10100 in narrow perspective and in broad perspective it seems to be vary between 9750-10300.
SUPPORT AND RESISTANCE:
The Support and Resistance for Bank Nifty Futures
Support 1: 9840 Support 2: 9750
Resistance 1:10120 Resistance 2: 10300
1 comments:
The higher crude oil prices could have negative implications on the economic growth of the country in the coming quarters.
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