Tuesday 17 May 2011

Daily levels and market prediction : 18 may 11

Daily levels and market predictions : 18 may 11


Nifty Spot Levels : 18 may 11
 

Today market closed down 60.05 points or (-1.09%) and finally settled at 5,438.95  and sensex closed down -207.68 points or (-1.13) and finally settled at 18,137.35
Nifty closed and settled finally at 5499.00, down by 45.75 points.  Earnings woes coupled with subsidy burden dragged markets even further towards the much hyped support level of 5350 mark on the Nifty. The first set of results after change of guard at the India’s largest lender SBI did not go down well with the bourses. Earlier in the day, speculative news broke that ONGC might have to shell out more money in terms of subsidy sharing.
Market will be very uncertain in upcoming trading session. If it manages to trade at Support level 5395 then market would be upward trend and if breaks this level then it would go down by 40 points i.e., 5345and if its does not sustain to this level then would decline  by 45 points more .
Nifty Manages below this level 5475 then market would be downward trend and if it breaks then would go higher about 45 points that is 5535
Nifty gainers: Jindal Steel, HUL, Bajaj Auto, ITC and TCS were up 0.8-2%.
Nifty losers: SBI, ONGC, SAIL, GAIL and Ranbaxy Labs were down 3-7%. 

Support : It has first support near to the levels of  5395 and below this level near to 5345


Resistance : It has First seen near to 5475 and above  this level near to5535



Bank  Nifty Index Lost 10654 . it is looking Consolidate in upcoming trading session. If it copes to Support level 10505 then market would be upward trend and if it breaks this level then would go down by 130 points that is 10375  and if its does not sustain to this level then would decline by100 points more
If  Bank Nifty manages below this level  10770 then market would be downward trend and if it breaks then would go higher upto  10930

Support : It has first support near to the levels of 10505  and below this level near to 10375


Resistance : It has First seen near to10770  and above  this level near to 10930


 Top Gainers : 17 may 11


Company (Group A)       % Change
 Mundra Port & Specia     +4.01
Jubilant Foodworks L       +3.73
Shriram Trans.Fi               +3.72
Dabur India                      +3.49
 Sterling Internation           +2.98

 Top loers : 17 may 11

Company (Group A)            % Change
 SBI                                             -7.78
 ONGC                                        -6.71
 IndiabullsFinService                     -5.16
 Oil India Ltd.                               -4.93
Mangalore Refine                         -4.76

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