STOCK MARKET REVIEW: 2nd NOVEMBER 2011
CNX Midcap index was up today: 2nd November 2011, 0.20% about and S&P CNX 500 lost about 0.07% while BSE small cap index lost at 0.06% and Midcap gained at 0.02% respectively.
The BSE Sensex ended at 17464.85 losing 15.98 points. The NSE Nifty closed at 5258.45 gaining 0.50 points.
Terror of global concerns led Indian markets to panic to such a level that whole day Indian market moved sideways. There was very little chance for traders to make a positions in the market. There was a bit relief from some scripts like Allahabad bank where positive results led to good hikes.
Stock market is more likely to expect Bearish.
Today’s Nifty Top gainers were:
RCOM with volume and changes 404,260,930.45and 5.5 %
RPOWER with volume and changes 219,431,774.05and 4.0%
RINFRA with volume and changes 598,288,823.25and 2.2 %
Today’s Nifty Top losers were:
PNB with volume and changes 2,417,088,623.15and [3.4] %
AIRTEL with volume and changes 646,422,543.95and [2.6] %
HEROMOTOCORP with volume and changes 646,422,543.95and [2.2] %
Nifty can be expected to follow UP trend in a long term. It seems to be varying between 5200-5400.
TECHNICAL CALLS FOR TODAY: 3RD NOVEMBER 2011
JUBILANT FOOD
JUBILANT FOOD closed today’s session at 831.40. Support and resistance levels for the share for the next trading session are:
Resistance 1-848
Resistance 2- 853
Support 1- 819
Support 2-811
SAIL
SAIL has seen trading within the range of 112.75. Expected levels for this script are as follow:
Resistance 1-114.50
Resistance 2- 116.50
Support 1- 109
Support 2-106.50
TVS MOTORS
TVS MOTORS closed trading at 66.35. Expected resistance and support levels for the scrip for the next trading session are:
Resistance 1-68
Resistance 2- 69.50
Support 1- 64.50
Support 2-63
NIFTY OUTLOOK FOR TODAY 3RD NOVEMBER 2011
NIFTY SPOT LEVEL
The Nifty Index opened at 5216.75 and finally closed at 5258.45 rallying up 0.50 points (0.01%) The Nifty high and low of the day were 5300.10 and 5204.95 respectively.
The Nifty Futures made a downtrend of 16.45 points and finally settled at 5275. The 30-share BSE Sensex was trading at 17464.45 down 15.98 points.
Market seems to be strongly trades between 5200-5300 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: 5220 Support 2: 5170
Resistance 1:5300 Resistance 2: 5335
BANK NIFTY FUTURES
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: 9710 Support 2: 9600
Resistance 1:9970 Resistance 2: 10140
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