Thursday, August 11, 2011

NIFTY LEVELS AND MARKET OVERVIEW : 12 AUGUST 2011


STOCK MARKET REVIEW 

CNX Midcap index was down today:11 august 2011, 0.29% about while BSE small cap index also lost 0.19%.
The BSE Sensex ended at 17,059 losing 71 points. It had earlier touched a day's high of 17,208 and a day's low of 17,012. It opened at 17,056. The NSE Nifty closed at 5,138 losing 23 points.

Bucking the negative trend were FMCG and select Oil & Gas stocks. Select Auto heavyweights like Tata Motors and M&M were in demand as well. On the other hand, Banking, Telecom and Realty stocks were among the major laggards.

Today’s Nifty Top gainers were:

HDFC with volume and changes 28,84,036and 2.68%
RELINFRA with volume and changes 14,77,351 and 2.65 %
RECAPITA with volume and changes 11,41,856and 2.42%

Today’s Nifty Top losers were:

TATAPOWER with volume and changes 9,77,081and -4.60 %
AXISBANK with volume and changes 18,69,862 and 3.05%
MARUTI with volume and changes 3,99,042 and -2.95%.

Nifty can be expected to follow down trend. It seems to be vary between 4980 - 5225

SHARES TO PICK :

Coal india

Coal india which recently got the entry in sensex 30 list replacing the reliance poweris going to announce its Q1 result tomorrow. Script has traded in heavy volume on Thursday. Share closed today’s session at 386. Support and resistance levels for the share for the next trading session are:

Resistance 1-390
Resistance2- 394

Support 1- 380  
Support 2- 376

COX & KINGS

COX & KINGS has seen trading within the range of 211 to 240 on Thursday. Expected levels for this script are as follow:

Resistance 1-235
Resistance2- 242

Support 1- 222   
Support2- 218

NIFTY SPOT LEVEL
                                                                                                          
The Nifty Index opened at 5,128.00 and finally closed at 5,138  rallying down 23 points (0.89%). The Nifty high and low of the day were 5,184.95 and 5,121.00respectively.

The Nifty Futures made a down rally of 23 points and finally settled at 5,138. The 30-share BSE Sensex was trading at 17,059 down 71 points.


Bucking the negative trend were FMCG and select Oil & Gas stocks. Select Auto heavyweights like Tata Motors and M&M were in demand as well. On the other hand, Banking, Telecom and Realty stocks were among the major laggards.

Market seems to be strongly trades between 5080-5200 in narrow perspective and in broad perspective it seems to be vary between 4980-5255

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Nifty Spot levels would be

Support 1: 5080         Support 2: 4980

Resistance 1: 5200     Resistance 2: 5255

BANK NIFTY FUTURES

Bank Nifty Futures seems to be strongly trades between 10180–10520 is looking bearish in narrow perspective and in broad perspective it seems to be vary between 10080-10620.

SUPPORT AND RESISTANCE:

The Support and Resistance Zone for Bank Nifty Futures would be 

Support 1: 10180      Support 2: 10080

Resistance 1: 10520   Resistance 2: 10620

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