STOCK MARKET CALLS | ANALYSIS | NIFTY OUTLOOK : 8TH DECEMBER 2011

STOCK MARKET REVIEW: 7^th DECEMBER 2011

CNX Midcap index was UP today: 7^TH DECEMBER 2011, 0.24% about and S&P CNX 500 GAINED about 0.34% while BSE small cap index GAINED at 0.20% and Midcap GAINED at 0.20% respectively.

The BSE Sensex ended at 16877 GAINING 71.73 points. The NSE Nifty closed at 5062.15 GAINING  23 points.

IT WAS A SIDE WAYS OPENING HERE IN THE INDIAN STOCK EXCHANGE. THIS OPENING WAS EXPECTED AND AFTER OPENING MARKET GAINED ALMOST 170 POINTS IN SENSEX AND 55 POINTS ON NIFTY. AT THE END OF THE DAY MARKET CLOSED NEAR THE OPENING AND CAME BACK FROM THE DAYS HIGH.

Stock market is more likely to expect bearish.

Today’s Nifty Top gainers were:

RCOM with volume and changes 693,986,401.65and 3.9 %

WIPRO with volume and changes 614,200,951.20and 3.6%

HCL TECH with volume and changes 279,692,814.85and 2.6%

Today’s Nifty Top losers were:

AIRTEL with volume and changes 1,804,061,657.75and [3.4] %

NTPC with volume and changes 338,674,781.75and [3.3] %

COALINDIA with volume and changes 3,301,819,398.40and [2.8] %

Nifty can be expected to follow UP trend in a long term. It seems to be varying between 4900-5100.

TECHNICAL CALLS FOR TODAY: 8^TH DECEMBER  2011

IDEA

IDEA closed today’s session at 91.45. Support and resistance levels for the share for the next trading session are:

Resistance 1-92

Resistance 2- 93

Support 1- 91.10

Support 2-90.50

PETRONET

PETRONET has seen trading within the range of 159.85. Expected levels for this script are as follow:

Resistance 1-161.50

Resistance 2- 163.50

Support 1- 157.50

Support 2-155

SAIL

SAIL closed trading at 86.75 Expected resistance and support levels for the scrip for the next trading session are:

Resistance 1-87.50

Resistance 2- 89

Support 1- 85.50

Support 2-84.50

NIFTY OUTLOOK FOR TODAY 8^TH DECEMBER 2011

NIFTY SPOT LEVEL
The Nifty Index opened at 5050.10 and finally closed at 5062.15 rallying UP 23 points (0.47%) The Nifty high and low of the day were 5099.25 and 5032.25 respectively.

The Nifty Futures made a UPTREND of 0.65 points and finally settled at 5066.25. The 30-share BSE Sensex was trading at 16877 UP 71.75 points.

Market seems to be strongly trades between 5020-5100 in narrow perspective and in broad perspective it seems to be vary between 4975-5150.

TREND – BEARISH.

SUPPORT AND RESISTANCE:

The Support and Resistance for Nifty Spot levels

Support 1: 5020   Support 2: 4975

Resistance 1:5100    Resistance 2: 5150

BANK NIFTY FUTURES

Bank Nifty Futures seems to be strongly a trade between 9100-9350 in narrow perspective and in broad perspective it seems to be vary between 8950-9470.

SUPPORT AND RESISTANCE:

The Support and Resistance for Bank Nifty Futures

Support 1: 9070 Support 2: 8950

Resistance 1: 9280 Resistance 2: 9470