STOCK MARKET CALLS | ANALYSIS |NIFTY OUTLOOK : 2ND DECEMBER 2011

STOCK MARKET REVIEW: 21^stDECEMBER 2011

It was a magnificent Wednesday on DALAL STREET, as the main Indian stock indices broke a five-session losing streak on the back of a worldwide rally in risky assets. 

 The Sensex ended at 15,725, up 551 points. The Nifty closed at 4,693, up 149 points from the last close. It had earlier touched a day's high of 4,707 and a day's low of 4,601.

CNX MIDCAP index was up 1.37% and S&P CNX 500 gained around 2.73%.

All the BSE sectoral indices ended in the green. The BSE Banking index was the top gainer, up 5.3%. The BSE Oil & Gas index was up 4.2%, while the BSE Consumer Durables index rose 4.2%. The BSE Mid-Cap and the Small-Cap index added 1% each. 

THINGS TO KEEP AN EYE ON FOR TOMMOROW SESSION:

Now all eyes are on Inflation data coming for the previous week which is coming tomorrow with the upcoming UP elections and the Union Budget next year. One has to see whether UPA II gathers enough courage to implement important economic reforms

Stock market is expected to remain on bearish trend.

Today’s Nifty Top gainers were:

R.COM changed 9.1%.With volume 7,819,836

TATA POWER changed 7.3% with volume of 3,963,660

HDFC BANK with volume 4,648,963 and changed 5.6%

Today’s Nifty Top losers were:

CROMPTON GREAVES with volume 1,220,498 and changed [0.6] %

IDEA with volume 4,242,023 and changed [0.5] %

CONTAINER CORP with volume 5,813 and changed [0.4] %

TECHNICAL CALLS FOR TODAY: 22^nd DECEMBER 2011

R.COM

 R.COM closed today’s session at 67.95. Support and resistance levels for the share for the next trading session are:

Resistance 1-68.75

Resistance 2-71.45

Support 1- 65.45

Support 2- 63.25

SESA GOA

SESA GOA has seen trading within the range of 163.70. Expected levels for this script are as follow:

Resistance 1-166

Resistance 2- 171

Support 1- 159

Support 2-156

ICICI

ICICI closed trading at 703 Expected resistance and support levels for the scrip for the next trading session are:

Resistance 1-713

Resistance 2-725

Support 1- 689

Support 2-677

NIFTY OUTLOOK FOR TODAY 22^nd DECEMBER 2011

NIFTY SPOT LEVEL

TREND – BEARISH

SUPPORT AND RESISTANCE:

The Support and Resistance for Nifty Spot levels

SUPPORT LEVELS

SUPPORT LEVELS

Support 1: 4645

Support 2: 4595

RESISTANCE LEVELS

Resistance 1: 4750

Resistance 2: 4825

BANK NIFTY FUTURES

Bank Nifty Futures seems to be strongly trade between 8350-8575 in narrow perspective and in broad perspective it seems to be varying between 8265-8720.

TREND- BEARISH

SUPPORT AND RESISTANCE:

The Support and Resistance for Bank Nifty Futures

SUPPORT LEVELS

Support 1: 8140

Support 2: 8050

RESISTANCE LEVELS 

Resistance 1: 8350

Resistance 2: 8465