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

NIFTY OUTLOOK FOR  10TH AUG  2012

NIFTY SPOT LEVEL   

TREND – CONSOLIDATION

SUPPORT 1	5300
SUPPORT 2	5280
RESISTANCE 1	5355
RESISTANCE 2	5390

BANK NIFTY FUTURES   

TREND- CONSOLIDATION

SUPPORT 1	10375
SUPPORT 2	10305
RESISTANCE 1	10565
RESISTANCE 2	10685

STOCK MARKET REVIEW: 9TH AUG 2012

BSE Small-Cap index was down 0.30% while the BSE Mid-Cap index finished 0.18% down.CNX MIDCAP 50 index was down 0.34% and S&P CNX 500 was down around 0.27%. The SENSEX closed 19 points down at 17,580 and the NIFTY stood at 5,322 down by 15 points.

BSE SENSEX and NIFTY benchmarks ended with a flat note due to depressing JUNE IIP data which contracted to 1.8% as against 2.4% in May, coupled with dismal corporate results including some of the index heavyweights like TATA MOTORS, RANBAXY and BHARTI AIRTEL. Other reasons for negative trend in the benchmarks include Moody’s cut towards India’s growth forecast to 5.5% for this year citing a lack of RBI action despite a broad-based slowdown and poor monsoons. Country’s largest Telecom operator BHARTI AIRTEL extended losses to 6% due to poor quarter results whereas top lender SBIN tanked 4% after the weak IIP data in June.   

Nifty Gainers                                                                                      

Today’s nifty top gainer were:

M&M changed 3.09% with 23, 91, 361 volumes

STER changed 3.07% with 1, 17, 57, 775 volumes

HINDUNILVR changed 2.64% with 17, 04, 384 volumes

Nifty Losers

Today’s nifty top losers were:

BHART AIRTEL with volume 3, 35, 41, 671 and changed -6.25%

SBIN with volume 42, 88, 872 and changed -4.31%

HDFC BANK with volume 41, 41, 096 and changed -4.08%

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