Tuesday, 9 August 2011

STOCK MARKET ANALYSIS : 10 AUGUST 11


NIFTY SPOT LEVEL: 10 August 11

Tomorrow trading is expected between the strong levels of 4960 to 5195. If the market breaches the level of 5120 on the upper side then the next resistance level will be 5195. But if nifty breaches the support level of 5030 then it may go down till the level of 4960. Nifty tomorrow is strongly expected to trade between the narrow ranges of 5030 to 5120.

SUPPORT:  First Nifty spot level near 5030 and Second Nifty spot level at 4960

RESISTANCE:  First Resistance near to 5120 and second near to 5195.


BANK NIFTY FUTURES: 10 August 11

Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 9920 to 10520.Bank nifty futures can go down till the level of 10050 once it breaks the level of 9920. On the opposite side once breaking the level of 10375, it is expected to go upward till the level of 10520. Bank nifty will be trading between the narrow ranges of 10050 to 10375.

SUPPORT:  First Nifty spot level near 10050 and Second Nifty spot level at 9920
RESISTANCE:  First Resistance near to 10375  and second near to 10520

STOCKS FOR TODAY: 10 AUG 11

KINGFISHER

Kingfisher Script has traded in heavy volume on tuesday. Shares closed the today’s session at 31. Support and resistance levels for the share for the next trading session are:

Resistance levels

R1-34
R2- 36

Support levels    

S1- 28  
S2- 26


Indian Oil Corporation

Indian Oil Corporation has seen trading within the range of 335 to 344 on MONDAY. Expected levels for this script are as follow:

Resistance levels

R1-340   
R2- 344

Support levels

S1- 335   
S2- 330




STOCK MARKET REVIEW: 10 August 11


CNX Midcap index was down about 1.10% while BSE smallcap index also lost 2.05%.

The market has experienced wide fluctuations, before the deal. Volatility Index in India reached a record of all time of 34.31 on the overall uncertainty. The 30-share BSESensex fell 132.27 points to close at 16,857.91 after swinging 700 points. The NSE 50-share Nifty fell 45.65 points to close at 5072.85.

Finally, the BSE Sensex closed at losing 16,858,132 points. He had earlier hit a day high of 17,135 and a day down 16,432. It opened at 16,517. The NSE Nifty closed at 5,072 losing 46 points.

IT, telecom stocks, metals and pharmaceuticals were the top losers. Mid-Cap and Small Cap stocks also closed lower.
Today’s Nifty Top gainer were ITC with changes 2.44%, GRASIM INDU with changes 2.84%, DLF with changes 2.43% and losers were TATASTEEL with changes 4.70% .TATA MOTORS with changes 4.07%,RELIANCE POWER L with changes 6.48%

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