STOCK MARKET ANALYSIS AND NIFTY OUTLOOK : 21 OCTOBER 2011

STOCK MARKET REVIEW : 20 october 2011

CNX Midcap index was down today: 20th October 2011, 1.16% about and S&P CNX 500 lost about 0.89% while BSE small cap index lost at 0.69% and Midcap lost at 0.48% respectively.

The BSE Sensex ended at 16941.24 losing 148.45 points. The NSE Nifty closed at 5091.90 losing 47.25 points.

Bear chased the bull all over again. The expectations were down when there was an opening bell in the market. Market crashed from the start but with good recovery from European markets supported the market and it closed with some signs of recovery.

Stock market is more likely to expect Bullish.

Today’s Nifty Top gainers were:

TATA STEEL with volume and changes 1,028,603,328.65and 1.8 %

JINDAL STEEL with volume and changes 1,169,880,771.00.50and 1.5%

BHARTI AIRTEL with volume and changes 1,478,299,329.25and 1.4 %

Today’s Nifty Top losers were:

HDFC with volume and changes 2,008,533,066.85and [4.3] %

IDFC with volume and changes 669,559,907.20and [3.7] %

Nifty can be expected to follow up trend in a long term. It seems to be vary between 4900-5200.

TECHNICAL CALLS FOR TODAY : 21 October 2011

PIRAMAL HEALTH

PIRAMAL HEALTH closed today’s session at 356.90. Support and resistance levels for the share for the next trading session are:

Resistance 1-360

Resistance 2- 364

Support 1- 352.50

Support 2-348

ARVIND

ARVIND has seen trading within the range of 107.80. Expected levels for this script are as follow:

Resistance 1-109.50

Resistance 2- 111

Support 1- 106

Support 2-104.20

JSW STEEL

JSW STEEL closed trading at 582.60. Expected resistance and support levels for the scrip for the next trading session are:

Resistance 1-587

Resistance 2- 591

Support 1- 577.50

Support 2-574.15

NIFTY OUTLOOK FOR TODAY 21^TH October 2011

NIFTY SPOT LEVEL
                                                                                                          

The Nifty Index opened at 5086.55 and finally closed at 5091.90 rallying down 47.25 points (0.92%) The Nifty high and low of the day were 5099 and 5033.95 respectively.

The Nifty Futures made a downtrend of 43.95 points and finally settled at 5105.45. The 30-share BSE Sensex was trading at 16936.89 down 148.45 points.

Market seems to be strongly trades between 5000-5200 in narrow perspective and in broad perspective it seems to be vary between 4800-5200.

TREND -- BULLISH.

SUPPORT AND RESISTANCE:

The Support and Resistance for Nifty Spot levels

Support 1: 5055   Support 2: 5015

Resistance 1:5120    Resistance 2: 5165

BANK NIFTY FUTURES

Bank Nifty Futures seems to be strongly a trade between 9750-9950 in narrow perspective and in broad perspective it seems to be vary between 9500-10000.

SUPPORT AND RESISTANCE:

The Support and Resistance for Bank Nifty Futures

Support 1: 9660    Support 2: 9560

Resistance 1:9900 Resistance 2: 10035

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