STOCK MARKET ANALYSIS AND NIFTY OUTLOOK : 8TH NOVEMBER 2011

STOCK MARKET REVIEW: 4^th NOVEMBER 2011

CNX Midcap index was up today: 4^th November 2011, 0.94% about and S&P CNX 500 gained about 0.47% while BSE small cap index gained at 0.38% and Midcap gained at 0.75% respectively

The BSE Sensex ended at 17562.61 gaining 80.68 points. The NSE Nifty closed at 5284.20 gaining 18.45 points.

As predicted market moved again to the positive zone although bad inflation data came out that moved the market downward but again it moved along and closed green.

Stock market is more likely to expect Bearish.

Today’s Nifty Top gainers were:

AMBUJA with volume and changes 438,292,563.45and 2.6 %

HINDALCO with volume and changes 1,042,421,342.95and 2.6%

JINDAL STEEL with volume and changes 449,352,513.15and 2.4 %

Today’s Nifty Top losers were:

TATA POWER with volume and changes 407,704,714.15and [2.0] %

RANBAXY with volume and changes 150,516,840.40and [2.0] %

RELIANCE INFRA with volume and changes 722,529,067.35and [1.9] %

Nifty can be expected to follow UP trend in a long term. It seems to be varying between 5200-5400.

TECHNICAL CALLS FOR TODAY: 8^th NOVEMBER 2011

BOMBAY RAYON

BOMBAY RAYON closed today’s session at 292.90. Support and resistance levels for the share for the next trading session are:

Resistance 1-294

Resistance 2- 296

Support 1- 290

Support 2-287.5

ADVANTA

ADVANTA has seen trading within the range of 395.20. Expected levels for this script are as follow:

Resistance 1-402

Resistance 2- 409

Support 1- 388

Support 2-380

ATLANTA

ATLANTA closed trading at 68.80. Expected resistance and support levels for the scrip for the next trading session are:

Resistance 1-71.20

Resistance 2- 73.50

Support 1- 66.00

Support 2-63.50

NIFTY OUTLOOK FOR TODAY 8^TH  NOVEMBER 2011

NIFTY SPOT LEVEL
 The Nifty Index opened at 5325.40 and finally closed at 5284.30 rallying up 18.45 points (0.35%) The Nifty high and low of the day were 5326.45 and 5256.80 respectively.

The Nifty Futures made a uptrend of 21.15 points and finally settled at 5317. The 30-share BSE Sensex was trading at 17562.61 up 80.68 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: 5250   Support 2: 5195

Resistance 1:5325    Resistance 2: 5400

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: 9760    Support 2: 9600

Resistance 1:9970 Resistance 2: 10140