STOCK MARKET CALLS | NIFTY OUTLOOK | ANALYSIS 10TH MAY 2012

NIFTY OUTLOOK FOR  10TH  MAY  2012

NIFTY SPOT LEVEL : TREND – BEARISH

Tomorrow trading is expected between the broad levels of 4920-5040. If the market breaches the level of 5010 on the upper side then the next resistance level will be 5040. But if nifty breaches the support level of 4950 then it may go down till the level of 4920.

SUPPORT 1	4950
SUPPORT 2	4920
RESISTANCE 1	5010
RESISTANCE 2	5040

BANK NIFTY FUTURES : TREND- BEARISH

Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 9210-9670. Bank nifty futures can go down till the level of 9210 once it breaks the level of 9310. On the opposite side once breaking the level of 9540, it is expected to go upward till the level of 9670. Bank nifty will be trading between the narrow ranges of 9310-9540.

SUPPORT 1	9310
SUPPORT 2	9210
RESISTANCE 1	9540
RESISTANCE 2	9670

EXPERT VIEW

Expected to trade flat in the market: Udayan Mukherjee

CNBC - TV managing editor Udayan Mukherjee -18business is likely to remain flat in the market today. The market may be selling pressure on any edge. The rupee has weakened against the dollar remains a major concern for the market.

Udayan Mukherjee, the Indian market for the last 2 trading sessions are extremely poor. At present, strong indications of the market are not getting anywhere.

STOCK MARKET REVIEW: 9TH MAY 2012

BSE Small-Cap index was up down 1.23% while the BSE Mid-Cap index finished 0.98% down.CNX MIDCAP 50 index was down 1.09% and S&P CNX 500 was down around 0.72%. The SENSEX closed 66 points down at 16,480 and the NIFTY stood at 4974, down by 25 points.

BSE SENSEX and NIFTY traded in a volatile range on WEDNESDAY and ended in red for the second consecutive session. Poor global cues and depreciating rupee weaken the sentiments as rupee ended at 53.80 with a fall of 68 paise against the DOLLAR. Weaker opening of ASIAN MARKETS also added the fuel to the fire. The falls were led by Banking, Metal, Oil & Gas, Auto and Power stocks while downside was shed by index heavy weight ITC CIGARETTE and TCS rose 6 percent and 2 percent respectively. Market is expected to move towards 4800 level in near term.

Nifty Gainers

Today’s nifty top gainer were

ITC changed 5.73% with 1, 33, 15,296 volumes

RANBAXY changed 3.78% with 34, 66,079 volumes

BAJAJAUTO changed 2.42% with 4, 49,672 volumes

Nifty Losers

Today’s nifty top losers were

JPASSOCIAT with volume 1, 04, 31,156 and changed -2.89%

SAIL with volume 10, 19,936 and changed -2.57%

GRASIM with volume 11,377 and changed -2.54%

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