STOCK MARKET REVIEW
CNX Midcap index was down today: 23 September 2011, 0.65% about and S&P CNX 500 lost about 1.05% while BSE small cap index and Midcap also lost at 1.13% and 0.84% Respectively.
The BSE Sensex ended at 16,162.06 losing 199.09 points. The NSE Nifty closed at 4,867.75 losing 55.90 points.
Bad news from the eurozone or problems in Greece. We have had a string of very bearish news about the state of the global economy with the US Federal Reserve worrying about the US economy, IMF also making some warnings, China PMI showing some traction
Stock market can expected to be in some profit due to buying position in First trading session Overall market would be bit weak.
Today’s Nifty Top gainers were:
RPOWER with volume and changes 56,81,818 and 3.37 %
CIPLA with volume and changes 13,96,370 and 2.09 %
GRASIM with volume and changes 94,770 and 2.02 %
Today’s Nifty Top losers were:
TATA MOTORS with volume and changes 2,13,36,311 and 5.37 %
HINDALCO with volume and changes 99,50,997 and 4.02 %
SAIL with volume and changes 38,29,770 and 3.48 %.
Nifty can be expected to follow down trend. It seems to be vary between 4750-4980
TECHNICAL CALLS FOR TODAY
STATE BANK OF INDIA
SBI closed today’s session at 1950.25. Support and resistance levels for the share for the next trading session are:
Resistance 1- 1991.40
Resistance 2- 2032.60
Support 1- 1899.50
GRAVITA INDIA has seen trading within the range of 432.95. Expected levels for this script are as follow:
Resistance 2- 447.95
Support 1- 420
STOCKS TO WATCH : 26 SEPTEMBER 2011
NIFTY OUTLOOK FOR TODAY: 26 SEPTEMBER 2011
NIFTY SPOT LEVEL
The Nifty Index opened at 5,153.75 and finally closed at 5,133.25 rallying down 6.95 points (0.14%). The Nifty high and low of the day were 5,168.40 and 5,109.85 respectively.
The Nifty Futures made a down rally of 6.95 points and finally settled at 5,133.25. The 30-share BSE Sensex was trading at 17,065.15 down 34.13 points.
Indian equity benchmarks closed on a flat note amid volatile session on Wednesday.
Market seems to be strongly trades between 4825-4910 in narrow perspective and in broad perspective it seems to be vary between 4750-4980
Tomorrow market is expected to be consolidate.
SUPPORT AND RESISTANCE:
The Support and Resistance Zone for Nifty Spot levels would be
Support 1: 4825 Support 2: 4750
Resistance 1: 4910 Resistance 2: 4980
BANK NIFTY FUTURES
Bank Nifty Futures seems to be strongly a trade between 9100–9640 is looking bullish in narrow perspective and in broad perspective it seems to be vary between 8960-9760.
SUPPORT AND RESISTANCE:
The Support and Resistance Zone for Bank Nifty Futures would be
Support 1: 9100 Support 2: 8960
Resistance 1: 9640 Resistance 2: 9760
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