STOCK MARKET REVIEW: 9th NOVEMBER 2011
CNX Midcap index was down today: 9th November 2011, 1.59% about and S&P CNX 500 lost about 1.42% while BSE small cap index lost at 1.06% and Midcap lost at 1.25% respectively.
The BSE Sensex ended at 17362.10 losing 207.43 points. The NSE Nifty closed at 5221.05 losing 68.30 points.
It was the panic which rode the show here on Wednesday after a very sideways opening the market fail to hold and tumbled.
The credit for the upset goes to SBI which gave a positive income but due to its increased NPA SBI fell almost 7%.
Stock market is more likely to expect Bearish.
Today’s Nifty Top gainers were:
HUL with volume and changes 1,641,887,295.55and 3.2 %
WIPRO with volume and changes 138,807,632.65and 1.9%
TCS with volume and changes 937,742,289.75and 1.6%
Today’s Nifty Top losers were:
SBI with volume and changes 4,815,896,039.35and [6.8] %
BPCL with volume and changes 299,648,639.80and [5.6] %
RANBAXY with volume and changes 221,224,853.00and [4.4] %
Nifty can be expected to follow UP trend in a long term. It seems to be varying between 5200-5400.
TECHNICAL CALLS FOR TODAY: 11th NOVEMBER 2011
TATA STEEL
TATA STEEL closed today’s session at 447.60. Support and resistance levels for the share for the next trading session are:
Resistance 1-455
Resistance 2- 463
Support 1- 440
Support 2-434
MAHINDRA SATYAM
MAHINDRA SATYAM has seen trading within the range of 73.05. Expected levels for this script are as follow:
Resistance 1-74
Resistance 2- 75.50
Support 1- 72
Support 2-70.50
CUMMINS
CUMMINS closed trading at 368.35. Expected resistance and support levels for the scrip for the next trading session are:
Resistance 1-375
Resistance 2- 380
Support 1- 362
Support 2-355
NIFTY OUTLOOK FOR TODAY 11TH NOVEMBER 2011
NIFTY SPOT LEVEL
The Nifty Index opened at 5309.70 and finally closed at 5221.09 rallying down 68.30 points (1.29%) The Nifty high and low of the day were 5317.50 and 5211.75 respectively.
The Nifty Futures made a DOWNTREND of 85.55 points and finally settled at 5230. The 30-share BSE Sensex was trading at 17362.10 down 207.43 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: 5195 Support 2: 5140
Resistance 1:5260 Resistance 2: 5330
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: 9450 Support 2: 9320
Resistance 1: 9730 Resistance 2: 9860
CNX Midcap index was down today: 9th November 2011, 1.59% about and S&P CNX 500 lost about 1.42% while BSE small cap index lost at 1.06% and Midcap lost at 1.25% respectively.
The BSE Sensex ended at 17362.10 losing 207.43 points. The NSE Nifty closed at 5221.05 losing 68.30 points.
It was the panic which rode the show here on Wednesday after a very sideways opening the market fail to hold and tumbled.
The credit for the upset goes to SBI which gave a positive income but due to its increased NPA SBI fell almost 7%.
Stock market is more likely to expect Bearish.
Today’s Nifty Top gainers were:
HUL with volume and changes 1,641,887,295.55and 3.2 %
WIPRO with volume and changes 138,807,632.65and 1.9%
TCS with volume and changes 937,742,289.75and 1.6%
Today’s Nifty Top losers were:
SBI with volume and changes 4,815,896,039.35and [6.8] %
BPCL with volume and changes 299,648,639.80and [5.6] %
RANBAXY with volume and changes 221,224,853.00and [4.4] %
Nifty can be expected to follow UP trend in a long term. It seems to be varying between 5200-5400.
TECHNICAL CALLS FOR TODAY: 11th NOVEMBER 2011
TATA STEEL
TATA STEEL closed today’s session at 447.60. Support and resistance levels for the share for the next trading session are:
Resistance 1-455
Resistance 2- 463
Support 1- 440
Support 2-434
MAHINDRA SATYAM
MAHINDRA SATYAM has seen trading within the range of 73.05. Expected levels for this script are as follow:
Resistance 1-74
Resistance 2- 75.50
Support 1- 72
Support 2-70.50
CUMMINS
CUMMINS closed trading at 368.35. Expected resistance and support levels for the scrip for the next trading session are:
Resistance 1-375
Resistance 2- 380
Support 1- 362
Support 2-355
NIFTY OUTLOOK FOR TODAY 11TH NOVEMBER 2011
NIFTY SPOT LEVEL
The Nifty Index opened at 5309.70 and finally closed at 5221.09 rallying down 68.30 points (1.29%) The Nifty high and low of the day were 5317.50 and 5211.75 respectively.
The Nifty Futures made a DOWNTREND of 85.55 points and finally settled at 5230. The 30-share BSE Sensex was trading at 17362.10 down 207.43 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: 5195 Support 2: 5140
Resistance 1:5260 Resistance 2: 5330
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: 9450 Support 2: 9320
Resistance 1: 9730 Resistance 2: 9860
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