STOCK MARKET CALLS | ANALYSIS | NIFTY OUTLOOK : 18 NOVEMBER 2011

STOCK MARKET REVIEW: 17^th NOVEMBER 2011

CNX Midcap index was down today: 17^th November 2011, 1.58% about and S&P CNX 500 lost about 1.78% while BSE small cap index lost at 1.15% and Midcap lost at 1.30% respectively.

The BSE Sensex ended at 16461.71 losing 314.16 points. The NSE Nifty closed at 4934.75 losing 95.70 points.

As expected it was a side ways opening with markets showing positive signs many a times but again EU crisis came in between the market and bull. It was the announcement of Italy bonds which is having too high yield,.

Stock market is more likely to expect Bearish.

Today’s Nifty Top gainers were:

RELIANCE INFRA with volume and changes 582,247,012.60and 1.0 %

HEROMOTOCORP with volume and changes 966,140,548.45and 0.7%

SUNPHARMA with volume and changes 334,512,320.45and 0.6%

Today’s Nifty Top losers were:

JP ASSOCIATES with volume and changes 1,165,299,703.35and [6.4] %

RPOWER with volume and changes 279,107,001.10and [4.6] %

RELIANCE with volume and changes 2,577,310,792.25and [4.5] %

Nifty can be expected to follow UP trend in a long term. It seems to be varying between 4800-5100.

TECHNICAL CALLS FOR TODAY: 18^th NOVEMBER 2011

M&M

M&M closed today’s session at 758.50. Support and resistance levels for the share for the next trading session are:

Resistance 1-767

Resistance 2- 775

Support 1- 752

Support 2-745

UNION BANK OF INDIA

UBI has seen trading within the range of 207.45. Expected levels for this script are as follow:

Resistance 1-211

Resistance 2- 215

Support 1- 204

Support 2-200

LOVABLE LINGERIE

LOVABLE LINGERIE closed trading at 769.75. Expected resistance and support levels for the scrip for the next trading session are:

Resistance 1-780

Resistance 2- 790

Support 1- 770

Support 2-762

NIFTY OUTLOOK FOR TODAY 18^TH NOVEMBER 2011

NIFTY SPOT LEVEL
The Nifty Index opened at 5027.10 and finally closed at 4934.75 rallying down 95.70 points (1.90%) The Nifty high and low of the day were 5036.80 and 4919.85 respectively.

The Nifty Futures made a DOWNTREND of 119.60 points and finally settled at 4925.30. The 30-share BSE Sensex was trading at 16461.71 down 314.16 points.

Market seems to be strongly trades between 4905-4965 in narrow perspective and in broad perspective it seems to be vary between 4880-5015.

TREND – BEARISH.

SUPPORT AND RESISTANCE:

The Support and Resistance for Nifty Spot levels

Support 1: 4905   Support 2: 4880

Resistance 1:4965    Resistance 2: 5015

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: 8820    Support 2: 8700

Resistance 1: 9020 Resistance 2: 9160