STOCK MARKET CALLS | NIFTY OUTLOOK | ANALYSIS 24TH MAY 2012

NIFTY OUTLOOK FOR  24th MAY  2012

NIFTY SPOT LEVEL

TREND – BEARISH

SUPPORT 1	4805
SUPPORT 2	4780
RESISTANCE 1	4855
RESISTANCE 2	4880

BANK NIFTY FUTURES

TREND- BEARISH

SUPPORT 1	9145
SUPPORT 2	9080
RESISTANCE 1	9285
RESISTANCE 2	9360

EXPERT VIEW


Long Position In Nifty is Suggested: Mohit Gaba

Mohit Gaba technical expert said Wednesday's Nifty was at lower levels since the beginning of this range is between 50 points, the Sensex fluctuation is in the position.

The Nifty and Bank Nifty long positions with stoploss of Rs 4,800 for the chance to see better.

Flattening of the market will start: Udayan Mukherjee

Udayan Mukherjee says that the start of today’s market is likely to be flat. Global markets remain volatile in the coming weeks is expected to be 2. Now it would be unfair to say that the Indian market will be in a better position.

According to Udayan Mukherjee, gasoline prices rose more than expected.

STOCK MARKET REVIEW: 23rd MAY 2012

BSE Small-Cap index was down 0.58% while the BSE Mid-Cap index finished 0.41% down.CNX MIDCAP 50 index was down 0.52% and S&P CNX 500 was down around 0.54%. The SENSEX closed 78 points down at 15,948 and the NIFTY stood at 4835, down by 24 points.

BSE SENSEX and NIFTY extended the loss on WEDNESDAY ahead of consecutive session as Indian rupee slipped to all time new bottom of 56.18 against the DOLLAR fell almost 1 percent on the session well supports by fall in European markets by 2 percent approximately. Although markets shed the losses in second half as a hike in oil prices is expected by this weekend after budget parliament session ended yesterday. The fall in Indian equities led by Metal, Engineering and Auto stock while downside capped by Pharma sector as RANBAXY and DRREDDY shoot up 2 percent each.

Nifty Gainers

Today’s nifty top gainer were

GAIL changed 3.54% with 17, 79,558 volumes

RANBAXY changed 1.73% with 10, 07,617 volumes

IDFC changed 1.39% with 71, 60,441 volumes

Nifty Losers

Today’s nifty top losers were

BHARTIARTL with volume 50, 13,328 and changed -4.68%

KOTAKBANK with volume 10, 27,524 and changed -3.91%

SESAGOA with volume31, 80,688 and changed -3.78%

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