STOCK MARKET CALLS | ANALYSIS | NIFTY OUTLOOK : 13 DECEMBER 2011

STOCK MARKET REVIEW: 12^th DECEMBER 2011

CNX Midcap index was DOWN today: 12^TH DECEMBER 2011, 2.09% about and S&P CNX 500 LOST about 2.08% while BSE small cap index LOST at 1.54% and Midcap LOST at 1.90% respectively.

The BSE Sensex ended at 15870.35 LOSING 343.11 points. The NSE Nifty closed at 4764.60 LOST 102.65 points.

AGAIN A WORST DAY FOR THE INDIAN MARKETS. MARKET OPENED POSITIVE AS EXPECTED DUE TO VARIOUS GLOBAL NEWS AROUND THE WORLD. BUT THIS START WENT IN VAIN AFTER THE IIP DATA HIT THE GROUND WHICH CAUSED THE MARKET TO FELL ALMOST 300 POINTS DOWN IN SENSEX AND 100 POINTS IN NIFTY. THERE IS A MINUTE CHANCES OF A PULL BACK ON FRIDAY AS THERE CAN BE AN OFFICIAL ANNOUNCEMENT OF INTEREST RATE CUT.

Stock market is more likely to expect bearish.

Today’s Nifty Top gainers were:

WIPRO with volume and changes 601,816,847.90and 2.4 %

HCL TECH with volume and changes 378,854,622.70and 1.4%

INFOYSIS with volume and changes 279,692,814.85and 1.1%

Today’s Nifty Top losers were:

TATAPOWER with volume and changes 176,837,697.85and [7.1] %

HINDALCO with volume and changes 1,484,266,179.45and [6.5] %

SAIL with volume and changes 3,301,819,398.40and [5.4] %

Nifty can be expected to follow UP trend in a long term. It seems to be varying between 4700-5000.

 

TECHNICAL CALLS FOR TODAY: 13^TH DECEMBER  2011

BHARTI AIRTEL

BHARTI AIRTEL closed today’s session at 342.30. Support and resistance levels for the share for the next trading session are:

Resistance 1-345

Resistance 2- 348

Support 1- 340

Support 2-337

ACC

ACC has seen trading within the range of 1119. Expected levels for this script are as follow:

Resistance 1-1130

Resistance 2- 1140

Support 1- 1112

Support 2-1100

RCOM

RCOM closed trading at 73.25 Expected resistance and support levels for the scrip for the next trading session are:

Resistance 1-74.20

Resistance 2- 75

Support 1- 72.50

Support 2-71.50

NIFTY OUTLOOK FOR TODAY 12^TH DECEMBER 2011

NIFTY SPOT LEVEL
The Nifty Index opened at 4906.85 and finally closed at 4764.60 rallying down 102.10 points (-2.10%) The Nifty high and low of the day were 4910.25 and 4755.55 respectively.

The Nifty Futures made a DOWNTREND of 116.90 points and finally settled at 4769. The 30-share BSE Sensex was trading at 15870.35 DOWN 343.11 points.

Market seems to be strongly trades between 4735-4800 in narrow perspective and in broad perspective it seems to be vary between 4695-4850.

TREND – BEARISH.

SUPPORT AND RESISTANCE:

The Support and Resistance for Nifty Spot levels

Support 1: 4735   Support 2: 4695

Resistance 1:4800    Resistance 2: 4850

BANK NIFTY FUTURES

Bank Nifty Futures seems to be strongly a trade between 8400-8650 in narrow perspective and in broad perspective it seems to be vary between 8260-8800.

SUPPORT AND RESISTANCE:

The Support and Resistance for Bank Nifty Futures

Support 1: 8400 Support 2: 8260

Resistance 1: 8650 Resistance 2: 8800