Monday, 22 August 2011

STOCK MARKET TRADING TIPS AND STRATEGIES : 23 AUGUST 2011


NIFTY SPOT LEVEL: 23 August 2011

Tomorrow trading is expected between the strong levels of 4790 to 4990. If the market breaches the level of 4940 on the upper side then the next resistance level will be 4990. But if nifty breaches the support level of 4840 then it may go down till the level of 4790. Nifty tomorrow is strongly expected to trade between the narrow ranges of 4840 to 4940.

SUPPORT:  First Nifty spot level near 4840 and Second Nifty spot level at 4790

RESISTANCE:  First Resistance near to 4940 and second near to 4990.


BANK NIFTY FUTURES: 23 August 2011

Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 9150 to 9765.Bank nifty futures can go down till the level of 9150 once it breaks the level of 9280. On the opposite side once breaking the level of 9610, it is expected to go upward till the level of 9765. Bank nifty will be trading between the narrow ranges of 9280 to 9610.

SUPPORT:  First Nifty spot level near 9280 and Second Nifty spot level at 9150
RESISTANCE:  First Resistance near to 9610 and second near to 9765.

STOCK MARKET REVIEW: 23 August 2011

CNX Midcap index was up about 1.51% while BSE smallcap and Midcap  indexes are also gained at 1.54% and 1.25% Respectively.

The BSE SENSEX ended at 16,341 gaining 200 points. It had earlier touched a day's high of 16,370 and a day's low of 16,046. It opened at 16,156. The NSE NIFTY closed at 4,898 adding 53 points


Today’s nifty top gainer were IDFC limited with changes 5.85%, STEEL AUTHORITY with changes 6.20%, RELIANCE COMM with changes 6.49% and losers were GAIL with changes 3.36% .HDFC with changes 1.69%,AXIS BANKwith changes 1.73%

STOCKS TO WATCH : 23 august 2011

Persistent Systems Ltd.

Persistent Systems, a leader in outsourced software product development (OPD) closed the session at 295.5. Expected levels for this script are as follow:


Resistance levels

R1-313

R2- 315

Support levels

 S1- 287

S2- 284

Zydus Wellness Ltd.

Zydus wellness ltd closed at 610. Expected resistance and support levels for the scrip for the next trading session are:

Resistance levels

R1- 619

R2-  625

Support levels

S1- 597

S2- 595

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