STOCK MARKET CALLS | ANALYSIS | NIFTY OUTLOOK : 2 DEC 2011

STOCK MARKET REVIEW: 1^st DECEMBER 2011

CNX Midcap index was UP today: 1^ST DECEMBER 2011, 0.99% about and S&P CNX 500 gained about 1.77% while BSE small cap index GAINED at 0.43% and Midcap GAINED at 0.97% respectively.

The BSE Sensex ended at 16483.45 gaining 359.99 points. The NSE Nifty closed at 4936.85 gaining 104.80 points.

GLOBAL CUES PULLED THE MARKET SO HARD THAT MARKET OPENED ALMOST 500 POINTS UP. MOST OF THE WORLD MARKETS PERFORMED BULLISH WITH CHINA TOO DEPLETED CRR. MARKET GAVE A SLIGHT DOWN SIDE OF 100 POINTS FROM START AND CLOSED.

Stock market is more likely to expect bearish.

Today’s Nifty Top gainers were:

ICICI with volume and changes 22,849,017,962.20and 7.0 %

HINDALCO with volume and changes 2,588,953,476.15and 6.8%

SAIL with volume and changes 279,692,814.85and 6.6%

Today’s Nifty Top losers were:

BHEL with volume and changes 826,391,260.75and [2.2] %

BPCL with volume and changes 447,413,809.45and [2.2] %

DR REDDY with volume and changes 491,562,820.50and [2.0] %

Nifty can be expected to follow UP trend in a long term. It seems to be varying between 4800-5000.

TECHNICAL CALLS FOR TODAY: 2^ND DECEMBER  2011

STERLITE

STERLITE closed today’s session at 105.50. Support and resistance levels for the share for the next trading session are:

Resistance 1-107

Resistance 2- 109

Support 1- 103

Support 2-101

HINDALCO

PANTALOON has seen trading within the range of 131.25. Expected levels for this script are as follow:

Resistance 1-134

Resistance 2- 137

Support 1- 128

Support 2-125

MARUTI

MARUTI closed trading at 962.25 Expected resistance and support levels for the scrip for the next trading session are:

Resistance 1-970

Resistance 2- 980

Support 1- 955

Support 2-945

NIFTY OUTLOOK FOR TODAY 2^ND DECEMBER 2011

NIFTY SPOT LEVEL
The Nifty Index opened at 4970.85 and finally closed at 4936.85 rallying UP 104.80 points (2.17%) The Nifty high and low of the day were 5011.90 and 4916.70 respectively.

The Nifty Futures made an UPTREND of 124.80 points and finally settled at 4957.15. The 30-share BSE Sensex was trading at 16483.15 UP 359.99 points.

Market seems to be strongly trades between 4880-4975 in narrow perspective and in broad perspective it seems to be vary between 4830-5050.

TREND – BEARISH.

SUPPORT AND RESISTANCE:

The Support and Resistance for Nifty Spot levels

Support 1: 4880   Support 2: 4830

Resistance 1:4975    Resistance 2: 5050

BANK NIFTY FUTURES

Bank Nifty Futures seems to be strongly a trade between 8800-9000 in narrow perspective and in broad perspective it seems to be vary between 8740-9230.

SUPPORT AND RESISTANCE:

The Support and Resistance for Bank Nifty Futures

Support 1: 8800 Support 2: 8740

Resistance 1: 9000 Resistance 2: 9230