STOCK MARKET ANALYSIS : 12 AUGUST 2011

NIFTY SPOT LEVEL: 12 August 2011

Tomorrow trading is expected between the strong levels of 4980 to 5255. If the market breaches the level of 5200 on the upper side then the next resistance level will be 5255. But if nifty breaches the support level of 5080 then it may go down till the level of 4980. Nifty tomorrow is strongly expected to trade between the narrow ranges of 5080 to 5200.

SUPPORT:  First Nifty spot level near 5080 and Second Nifty spot level at 4980

RESISTANCE:  First Resistance near to 5200 and second near to 5255.

BANK NIFTY FUTURES: 12 August 2011

Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 10080 to 10620.Bank nifty futures can go down till the level of 10080 once it breaks the level of 10180. On the opposite side once breaking the level of 10520, it is expected to go upward till the level of 10620. Bank nifty will be trading between the narrow ranges of 10180 to 10520.

SUPPORT:  First Nifty spot level near 10180 and Second Nifty spot level at 10080

RESISTANCE:  First Resistance near to 10520 and second near to 10620

STOCK MARKET REVIEW: 12 August 2011

CNX Midcap index was up about 0.29% while BSE smallcap index also gained 0.19%.

BSE Sensex closed at 17,059 losing 71 points. He had earlier hit a day high of 17,208 and a day down 17,012. It opened at 17,056.

The NSE Nifty closed in 5138 lost 23 points.

Against the trend was negative, and select consumer stocks of oil and gas. Select Auto heavyweights like Tata Motors and M & M were in demand.

Today’s Nifty Top gainer were NTPC with changes 1.31%, RELIANCE CAPITAL with changes 2.18 %, RELIANCE INFRASTRUCTURE with changes 2.50 % and losers were AXIS BANK with changes 3.14% .BHARTI AIRTEL with changes 2.40 %,TATA POWER with changes 4.38%

STOCKS TO WATCH : 12 august 2011

HINDALCO INDUSTRIES

HINDALCO INDUSTRIES closed trading at 157 on Thursday. Expected resistance and support levels for the scrip for the next trading session are:

Resistance levels

R1-160  

R2- 166

Support levels

S1- 154

S2- 150

HPCL

HPCL closed trading at 391 on Thursday. Expected resistance and support levels for the scrip for the next trading session are:

Resistance levels

R1-396

R2- 399

Support levels

S1- 385

S2- 380