STOCK MARKET CALLS | NIFTY OUTLOOK | ANALYSIS 24TH JULY 2012

NIFTY OUTLOOK FOR 24TH JULY  2012

NIFTY SPOT LEVEL   

TREND – BEARISH

SUPPORT 1	5095
SUPPORT 2	5070
RESISTANCE 1	5150
RESISTANCE 2	5185

BANK NIFTY FUTURES   

TREND- BEARISH

SUPPORT 1	10220
SUPPORT 2	10160
RESISTANCE 1	10370
RESISTANCE 2	10460

EXPERT VIEW
Nifty support at 5100: Udayan Mukherjee

Managing Editor of CNBC TV -18 , Udayan Mukherjee  says that  global signal is not so worse .Stability can be seen in the Indian market.According to Udayan Mukherjee is continued volatility in the global markets. The Sensex has slipped to around 5,100 by 5350. But this level are not expected to be under rated. Nifty level of 5,100 in today's session will be supported. With the increase is not expected to be up to 5,150 Nifty.

23RD JULY PERFORMANCE:

CROMPTGREAVE FUT 3TG, POS KOTAKBANK FUT 3TG,

BANKNIFTY PUT 3TG, MASTEK 3TG,

LNT PUT 2TG, CROMPTGREAV PUT 2TG,

NIFTY FUT 2TG, ASIAN PAINT FUT 2TG,

SRTRANSFIN FUT 2TG, BF UTILITIES FUT 1TG,

CANARA BANK FUT 1TG, DEN NETWORK 1TG,

HYDERABAD IND 1TG,BTST JUBLFOOD FUT &

BAJAJ AUTO FUT, STBT PRAJ INDUSTRIES FUT

TG ACHIEVED 

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STOCK MARKET REVIEW: 23RD JULY 2012

BSE Small-Cap index was down 1.14% while the BSE Mid-Cap index finished 1.31% down.CNX MIDCAP 50 index was down 1.71% and S&P CNX 500 was down around 1.60%. The SENSEX closed 288 points down at 16,877 and the NIFTY stood at 5,117 down by 87 points.

BSE SENSEX and NIFTY traded lower and tanked on the very opening session by 1.67 percent and 1.64 percent respectively as traded over the weak global cues. Indian equities took the biggest fall in two months ends in red as Spanish woes and a road block to FDI in retail weighted the sentiments. A sharp fall in Indian rupee also fuelled the downside rally as rupee moved towards the 56 level and depreciated by 1.09 percent or 62 paise ended 55.94 against the U.S. DOLLAR. Oil prices also slipped near the USD 103 per barrel as investors looked cautious and expected that S pain would not be able to avoid a costly sovereign bailout. However Drreddy, Cipla and ONGC tried to hold the market while India’s largest car maker Maruti, JPASSOCIAT and Sesagoa led the falls.

Nifty Gainers

Today’s nifty top gainer were:

DRREDDY changed 1.19% with 3, 12,774 volumes

CIPLA changed 0.91% with 8, 01,903 volumes

ONGC changed 0.76% with 16, 00,274 volumes

Nifty Losers

Today’s nifty top losers were:

MARUTI with volume 40, 39,945 and changed -5.75%

JPASSOCIAT with volume 1, 73, 93,906 and changed -4.69%

SESAGOA with volume 16, 76,252 and changed -4.67%

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