CNX Midcap index was DOWN today: 8TH DECEMBER 2011, 2.07% about and S&P CNX 500 LOST about 2.19% while BSE small cap index LOST at 1.61% and Midcap LOST at 1.77% respectively.
The BSE Sensex ended at 16488.24 LOSING 388 points. The NSE Nifty closed at 4943.15 LOST 118 points.
MARKET TUMBLED INSPITE OF THE INFLATION DATA COMING VERY FINE THIS WEEK AND MARKET WAS ALMOST 2.35% DOWN. THERE WERE SEVARAL NEWS IN THE MARKET AS THE DOWNGRADATION OF AUSTRIA AND BELGIUM IN GLOBE AND BHARTI AND IDEA DOWNGRADED BY CS.
Stock market is more likely to expect bearish.
Today’s Nifty Top gainers were:
WIPRO with volume and changes 1,298,341,915.20 and 2.1 %.
SUNPHARMA with volume and changes 614,200,951.20 and 1.6%.
PNB with volume and changes 279,692,814.85 and 1.3%.
Today’s Nifty Top losers were:
BHEL with volume and changes 788,615,024.70 and [5.7] %.
RCOM with volume and changes 338,674,781.75 and [5.7] %.
JP ASSOCIATES with volume and changes 3,301,819,398.40 and [5.6] %.
Nifty can be expected to follow UP trend in a long term. It seems to be varying between 4800-5100.
TECHNICAL CALLS FOR TODAY: 9TH DECEMBER 2011
TATAMOTORS
TATA MOTORS closed today’s session at 187.20. Support and resistance levels for the share for the next trading session are:
Resistance 1-190
Resistance 2- 193.50
Support 1- 185
Support 2-182
HINDALCO
HINDALCO has seen trading within the range of 131.15. Expected levels for this script are as follow:
Resistance 1-133
Resistance 2- 135
Support 1- 129.50
Support 2-127
SAIL
SAIL closed trading at 87.75 Expected resistance and support levels for the scrip for the next trading session are:
Resistance 1-88.50
Resistance 2- 90
Support 1- 86.50
Support 2-84
NIFTY OUTLOOK FOR TODAY 9TH DECEMBER 2011
NIFTY SPOT LEVEL
The Nifty Index opened at 5037.40 and finally closed at 4943.15 rallying down 118 points (2.35%) The Nifty high and low of the day were 5049 and 4921.45 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 4915--5045 in narrow perspective and in broad perspective it seems to be vary between 4850-5045.
TREND – BEARISH.
SUPPORT AND RESISTANCE:
The Support and Resistance for Nifty Spot levels
Support 1: 4915 Support 2: 4850
Resistance 1:5002 Resistance 2: 5045
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: 8825 Support 2: 8720
Resistance 1: 9070 Resistance 2: 9190
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