STOCK MARKET CALLS | ANALYSIS |NIFTY OUTLOOK : 23RD JANUARY 2012

STOCK MARKET REVIEW: 20^THJANUARY 2012

A late pullback on the Dalal Street saw the Indian markets closing the session higher for the second consecutive day. Heavy buying interest in the banking stocks led the rally today. Profit booking in FMCG, pharma and metal stocks limited the upside. Heavyweights like RIL, SBI, ICICI Bank, Bajaj Auto, Jindal Steel, BHEL, HDFC Bank and Wipro were the positive contributors to the Sensex.

The Sensex closed 95 points higher at 16739 and the Nifty rose 30 points to settle at 5049.

The Small-Cap index rose 0.08% while the Mid-Cap index went up by 0.18 %.CNX MIDCAP 50 index was up 0.55% and S&P CNX 500 was up 0.53%. 

Nifty Gainers

Today’s Nifty Top gainers were:

BAJAJ AUTO changed 6.63% with 2163086 volumes.

AXIS BANK changed 6.59% with 4924504 volumes.

ICICI BANK changed 6.25% with 9647998 volumes.

Nifty Losers

Today’s Nifty Top losers were:

ITC with volume 17214445 and changed -4.40%.

DR. REDDY with volume 427975 and changed -3.48%.

R POWER with volume 4478467 and changed -2.46%.

TECHNICAL CALLS FOR TODAY: 23^RD JANUARY 2012

SELL SUN TV FUTURES BELOW 276

First Target 274

Second Target 272

Stop Loss 280

BUY YES BANK FUTURES ABOVE 301

First Target 303

Second Target 305

Stop Loss 397

BUY INDIA BULL & FINANCIAL SERVICES ABOVE 184

First Target 185

Second Target 186

Stop Loss 181

BUY AGROTECH FOOD ABOVE 460          

First Target 462

Second Target 463

Stop Loss 456

NIFTY OUTLOOK FOR TODAY 23^RD JANUARY 2012

NIFTY SPOT LEVEL

TREND – BULLISH

SUPPORT AND RESISTANCE:

The Support and Resistance for Nifty Spot levels

SUPPORT LEVELS

Support 1: 5005

Support 2: 4955

RESISTANCE LEVELS

Resistance 1: 5095

Resistance 2: 5145