STOCK MARKET CALLS | ANALYSIS | NFTY OUTLOOK : 22ND NOVEMBER 2011

STOCK MARKET REVIEW: 22^ND  NOVEMBER 2011

CNX Midcap index was down today: 21^st November 2011, 1.60% about and S&P CNX 500 lost about 2.31% while BSE small cap index lost at 1.72% and Midcap lost at 1.95% respectively.

The BSE Sensex ended at 15946.10 losing 425.41 points. The NSE Nifty closed at 4778.35 losing 127.45 points.

Huge upset for the market when it started on Monday. There was an expectation that Monday can be bit bullish after a pull back in the market after a steep fall. But as more and more dollar is gaining strength there is a weakening in the Indian market as everyone is conscious about the Dollar strength. As a result market fell like a hell and was down almost 450 points on closing.

Stock market is more likely to expect Bearish.

Today’s Nifty Top gainers were:

MARUTI with volume and changes 1,517,911,951.95and 0.3 %

HUL with volume and changes 1,337,508,399.25and 0.1%

Today’s Nifty Top losers were:

SESA GOA with volume and changes 699,157,878.75and [6.7] %

SAIL with volume and changes 543,139,628.85and [5.3] %

CAIRN INDIA with volume and changes 533,435,493.40and [4.3] %

Nifty can be expected to follow UP trend in a long term. It seems to be varying between 4700-4900

TECHNICAL CALLS FOR TODAY: 22^ND NOVEMBER 2011

PANTALOON RETAIL

PANTALOON RETAIL closed today’s session at 174.10. Support and resistance levels for the share for the next trading session are:

Resistance 1-180

Resistance 2- 190

Support 1- 170

Support 2-164.50

HINDUSTAN UNILEVER

HINDUSTAN UNILEVER has seen trading within the range of 390.20. Expected levels for this script are as follow:

Resistance 1-395

Resistance 2- 400

Support 1- 384.50

Support 2-380

MARUTI

MARUTI closed trading at 943.05. Expected resistance and support levels for the scrip for the next trading session are:

Resistance 1-956

Resistance 2- 970

Support 1- 930

Support 2-921

NIFTY OUTLOOK FOR TODAY 22^ND NOVEMBER 2011

NIFTY SPOT LEVEL
The Nifty Index opened at 4873.80 and finally closed at 4778.35 rallying down 127.45 points (2.60%) The Nifty high and low of the day were 4873.80 and 4764.80 respectively.

The Nifty Futures made a DOWNTREND of 127.87 points and finally settled at 4787. The 30-share BSE Sensex was trading at 15946.10 down 127.45 points.

Market seems to be strongly trades between 4740-4805 in narrow perspective and in broad perspective it seems to be vary between 4695-4840.

TREND – BEARISH.

SUPPORT AND RESISTANCE:

The Support and Resistance for Nifty Spot levels

Support 1: 4740   Support 2: 4695

Resistance 1:4805    Resistance 2: 4840

BANK NIFTY FUTURES

Bank Nifty Futures seems to be strongly a trade between 8820-9020 in narrow perspective and in broad perspective it seems to be vary between 8700-9160. 

SUPPORT AND RESISTANCE:

The Support and Resistance for Bank Nifty Futures

Support 1: 8470    Support 2: 8300

Resistance 1: 8660 Resistance 2: 8820

NIFTY SPOT LEVEL: 22^ND NOVEMBER 11

In upcoming trading session there is higher possibility that nifty spot manages between narrow range of 4740-4805, and if it breaks the level 4740 Then it would go down and next support would be 4695 and if it breaks the level 4805 then would go higher and next resistance would be 4840 i.e. Nifty would vary between broad range of 4695-4840.

BANK NIFTY FUTURES:  22^ND NOVEMBER 11

In upcoming trading session, Bank Nifty Futures is possible to vary between narrow ranges of 8470-8660, and if it breaks the level 8470 then it would go down up to next support 8300. If bank nifty futures sustain at 8660, then it would make high up to next resistance 8820, that is bank nifty future would vary between broad range of 8300-8820.