STOCK MARKET REVIEW: 20THJANUARY 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%.
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.
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: 23RD 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 23RD JANUARY 2012
TREND – BULLISH
SUPPORT AND RESISTANCE:
The Support and Resistance for Nifty Spot levels
Support 1: 5005
Support 2: 4955
Resistance 1: 5095
Resistance 2: 5145