STOCK MARKET REVIEW: 16th NOVEMBER 2011
CNX Midcap index was down today: 16th November 2011, 0.94% about and S&P CNX 500 lost about 0.79% while BSE small cap index lost at 1.34% and Midcap lost at 0.94% respectively.
The BSE Sensex ended at 16775.87 losing 106.80 points. The NSE Nifty closed at 5030.45 losing 38.05 points.
Huge swing no one was able to predict that should they go for buy or sell as the momentum that built was both sides. In future market open interest in puts were shed down and in calls there was more open interest created. This gave a expectation of positive start on Thursday.
Stock market is more likely to expect Bullish.
Today’s Nifty Top gainers were:
JINDAL STEEL with volume and changes 752,126,477.10and 2.2 %
M&M with volume and changes 1,930,325,514.45and 2.1%
SBI with volume and changes 5,931,500,944.90and 2.1%
Today’s Nifty Top losers were:
SAIL with volume and changes 256,268,123.95and [5.3] %
SIEMENS with volume and changes 766,860,346.55and [4.9] %
JP ASSOCIATES with volume and changes 554,609,464.45and [4.5] %
Nifty can be expected to follow UP trend in a long term. It seems to be varying between 5000-5300.
TECHNICAL CALLS FOR TODAY: 17th NOVEMBER 2011
M&M
M&M closed today’s session at 775.25. Support and resistance levels for the share for the next trading session are:
Resistance 1-784
Resistance 2- 792
Support 1- 766
Support 2-758
SBI
SBI has seen trading within the range of 1765.95. Expected levels for this script are as follow:
Resistance 1-1780
Resistance 2- 1800
Support 1- 1750
Support 2-1730
PRAKASH CONSTROWELL
PRAKASH CONSTROWELL closed trading at 223.25. Expected resistance and support levels for the scrip for the next trading session are:
Resistance 1-240
Resistance 2- 255
Support 1- 210
Support 2-200
NIFTY OUTLOOK FOR TODAY 17TH NOVEMBER 2011
NIFTY SPOT LEVEL
The Nifty Index opened at 5059.10 and finally closed at 5030.45 rallying down 38.05 points (0.75%) The Nifty high and low of the day were 5065.20 and 4989.50 respectively.
The Nifty Futures made a UPTREND of 0.80 points and finally settled at 5079. The 30-share BSE Sensex was trading at 16775.87 down 106.80 points.
Market seems to be strongly trades between 4970-5070 in narrow perspective and in broad perspective it seems to be vary between 4930-5130.
TREND – BULLISH.
SUPPORT AND RESISTANCE:
The Support and Resistance for Nifty Spot levels
Support 1: 4970 Support 2: 4930
Resistance 1:5070 Resistance 2: 5130
BANK NIFTY FUTURES
Bank Nifty Futures seems to be strongly a trade between 8970-9140 in narrow perspective and in broad perspective it seems to be vary between 8820-9250.
SUPPORT AND RESISTANCE:
The Support and Resistance for Bank Nifty Futures
Support 1: 9050 Support 2: 8940
Resistance 1: 9245 Resistance 2: 9350
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