STOCK MARKET CALLS | ANALYSIS | NFTY OUTLOOK : 22ND NOVEMBER 2011

STOCK MARKET REVIEW: 22^ND  NOVEMBER 2011

CNX Midcap index was down today: 21^st November 2011, 1.60% about and S&P CNX 500 lost about 2.31% while BSE small cap index lost at 1.72% and Midcap lost at 1.95% respectively.

The BSE Sensex ended at 15946.10 losing 425.41 points. The NSE Nifty closed at 4778.35 losing 127.45 points.

Huge upset for the market when it started on Monday. There was an expectation that Monday can be bit bullish after a pull back in the market after a steep fall. But as more and more dollar is gaining strength there is a weakening in the Indian market as everyone is conscious about the Dollar strength. As a result market fell like a hell and was down almost 450 points on closing.

Stock market is more likely to expect Bearish.

Today’s Nifty Top gainers were:

MARUTI with volume and changes 1,517,911,951.95and 0.3 %

HUL with volume and changes 1,337,508,399.25and 0.1%

Today’s Nifty Top losers were:

SESA GOA with volume and changes 699,157,878.75and [6.7] %

SAIL with volume and changes 543,139,628.85and [5.3] %

CAIRN INDIA with volume and changes 533,435,493.40and [4.3] %

Nifty can be expected to follow UP trend in a long term. It seems to be varying between 4700-4900

TECHNICAL CALLS FOR TODAY: 22^ND NOVEMBER 2011

PANTALOON RETAIL

PANTALOON RETAIL closed today’s session at 174.10. Support and resistance levels for the share for the next trading session are:

Resistance 1-180

Resistance 2- 190

Support 1- 170

Support 2-164.50

HINDUSTAN UNILEVER

HINDUSTAN UNILEVER has seen trading within the range of 390.20. Expected levels for this script are as follow:

Resistance 1-395

Resistance 2- 400

Support 1- 384.50

Support 2-380

MARUTI

MARUTI closed trading at 943.05. Expected resistance and support levels for the scrip for the next trading session are:

Resistance 1-956

Resistance 2- 970

Support 1- 930

Support 2-921

NIFTY OUTLOOK FOR TODAY 22^ND NOVEMBER 2011

NIFTY SPOT LEVEL
The Nifty Index opened at 4873.80 and finally closed at 4778.35 rallying down 127.45 points (2.60%) The Nifty high and low of the day were 4873.80 and 4764.80 respectively.

The Nifty Futures made a DOWNTREND of 127.87 points and finally settled at 4787. The 30-share BSE Sensex was trading at 15946.10 down 127.45 points.

Market seems to be strongly trades between 4740-4805 in narrow perspective and in broad perspective it seems to be vary between 4695-4840.

TREND – BEARISH.

SUPPORT AND RESISTANCE:

The Support and Resistance for Nifty Spot levels

Support 1: 4740   Support 2: 4695

Resistance 1:4805    Resistance 2: 4840

BANK NIFTY FUTURES

Bank Nifty Futures seems to be strongly a trade between 8820-9020 in narrow perspective and in broad perspective it seems to be vary between 8700-9160. 

SUPPORT AND RESISTANCE:

The Support and Resistance for Bank Nifty Futures

Support 1: 8470    Support 2: 8300

Resistance 1: 8660 Resistance 2: 8820

NIFTY SPOT LEVEL: 22^ND NOVEMBER 11

In upcoming trading session there is higher possibility that nifty spot manages between narrow range of 4740-4805, and if it breaks the level 4740 Then it would go down and next support would be 4695 and if it breaks the level 4805 then would go higher and next resistance would be 4840 i.e. Nifty would vary between broad range of 4695-4840.

BANK NIFTY FUTURES:  22^ND NOVEMBER 11

In upcoming trading session, Bank Nifty Futures is possible to vary between narrow ranges of 8470-8660, and if it breaks the level 8470 then it would go down up to next support 8300. If bank nifty futures sustain at 8660, then it would make high up to next resistance 8820, that is bank nifty future would vary between broad range of 8300-8820.

NIFTY LEVELS AND MARKET OVERVIEW : 4 AUGUST 2011

STOCK MARKET REVIEW 

CNX Midcap index was down 0.27% about while BSE small cap index also lost 0.66%.

Investors were vexed over the health of the global economy due to poor economic data that took the limelight of congressional deal to raise America’s debt ceiling to avoid a first-ever default.

The key indices declined for the second straight day. The Sensex closed lower by 169 points at 17941 and the Nifty fell 52 points to shut at 5405. The trading sentiment remained bearish and the markets closed the session on a negative note.

Today’s decline was led by the index heavyweights like L&T, Tata Motors, Axis Bank, Bajaj Auto and DLF, dragging the Nifty to an intra-day low of 5379. However, the index recovered towards the end and managed to hold above the 5400 levels.

Today’s Nifty Top gainers were:

SAIL with volume and changes 3.18 27,51,757 and 3.18 %

RELINFRA with volume and changes 11,27,334 and 2.50 %

SESAGOA with volume and changes 35,17,941 and 2.25 %

Today’s Nifty Top losers were:

LT with volume and changes 28,33,569 and 4.23 %

TATAMOTORS with volume and changes 17,86,057 and 2.95 %

AXISBANK with volume and changes 18,33,923 and 2.87 %.

As the investors are jittery due to the weak global market and flocking to other safe havens, also   Nifty has ended below its ascending support trend line, which indicates that further sell-off on Dalal Street is possible. Hopefully, we may see a rebound after a two-day selloff. US index futures gained so we may expect the positive global market on Thursday.

Nifty can be expected to follow up trend. It seems to be vary between 5330-5480

SHARES TO PICK:

ADANI POWER

ADANI POWER Script has traded in heavy volume on Wednesday. Shares closed the today’s session at 101. Support and resistance levels for the share for the next trading session are:

Resistance 1-105

Resistance2- 109

Support 1- 96  

Support 2- 93

HINDUSTAN MOTORS

Hindustan motor has seen trading within the range of 16.80 to 17.80 on Wednesday. Expected levels for this script are as follow:

Resistance 1-19  

Resistance2- 21

Support 1- 15   

Support2- 13

STOCKS TO WATCH

Sell SHRIRAM TRANSPORT below 585

Book First Target at 579 and Second Target at 572

Keep stop loss at 593.45

Buy AANJANEYA at cmp

Book first target at 396 and Second target at 401

Keep stop loss at 387.45

NIFTY SPOT LEVEL
                                                                                                          

The Nifty Index opened up at 5,402.00 and finally closed at 5,404.80 rallying down 51.75 points (0.95%). The Nifty high and low of the day were 5,402.00 and 5,378.85 respectively.

The Nifty Futures made a down rally of 51.75 points or (0.95%) and finally settled at 5,404.80. The 30-share BSE Sensex was trading at 17,940.55 down 169.34 points.

Investors were vexed over the health of the global economy due to poor economic data that took the limelight of congressional deal to raise America’s debt ceiling to avoid a first-ever default.

The key indices declined for the second straight day. The Sensex closed lower by 169 points at 17941 and the Nifty fell 52 points to shut at 5405. The trading sentiment remained bearish and the markets closed the session on a negative note.

Today’s decline was led by the index heavyweights like L&T, Tata Motors, Axis Bank, Bajaj Auto and DLF, dragging the Nifty to an intra-day low of 5379. However, the index recovered towards the end and managed to hold above the 5400 levels.

Market seems to be strongly trades between 5375-5435 in narrow perspective and in broad perspective it seems to be vary between 5330-5480

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Nifty Spot levels would be

Support 1: 5375         Support 2: 5330

Resistance 1: 5435     Resistance 2: 5480

BANK NIFTY FUTURES

Bank Nifty Futures seems to be strongly trades between 10580 –10820 is looking bearish in narrow perspective and in broad perspective it seems to be vary between 10440-10940

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Bank Nifty Futures would be 

Support 1: 10580       Support 2: 10440

Resistance 1: 10820   Resistance 2: 10940