Wednesday, 3 August 2011

STOCK MARKET ANALYSIS FOR TODAY: 04 AUGUST 2011


NIFTY SPOT LEVEL : 4  August 11

Tomorrow trading is expected between the strong levels of 5330 to 5480. If the market breaches the level of 5435 on the upper side then the next resistance level will be 5480. But if nifty breaches the support level of 5375 then it may go down till the level of 5330. Nifty tomorrow is strongly expected to trade between the narrow ranges of 5375 to 5435.

SUPPORT:  First Nifty spot level near 5375 and Second Nifty spot level at 5330

RESISTANCE:  First Resistance near to 5435 and second near to 5480.


BANK NIFTY FUTURES: 4 August 11

Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 10440 to 10940. Bank nifty futures can go down till the level of 10580 once it breaks the level of 10440. On the opposite side once breaking the level of 10820, it is expected to go upward till the level of 10940. Bank nifty will be trading between the narrow ranges of 10580 to 10820.

SUPPORT:  First Nifty spot level near 10580 and Second Nifty spot level at 10440
RESISTANCE:  First Resistance near to 10820 and second near to 10940


STOCKS TO WATCH:


Sell TATA MOTORS at cmp

Target 1: 920

Target 2: 910

Stop loss: 939.45


Sell ADITYA BIRLA NUVO at cmp

Target 1: 988

Target 2: 1002

Stop loss: 969.45


Sell LT at cmp

Target 1: 1650

Target 2: 1635

Stop loss: 1670.45


STOCKS FOR TODAY: 4 AUG 11


UFLEX

Uflex closed trading at 212 on wednesday. Expected resistance and support levels for the scrip for the next trading session are:

Resistance levels

R1-217

R2- 222

Support levels

 S1- 202

 S2-197


Bombay Dyeing

Bombay Dyeing has seen trading within the range of 322 to 335 on Wednesday. Expected levels for this script are as follow:

Resistance levels

R1- 336   

R2- 340

Support levels

S1- 320  

S2- 315

STOCK MARKET REVIEW: 3 August 11

CNX Midcap index was down about 0.27% while BSE smallcap index also lost 0.66%. Investors have been controversial on the health of the global economy because of poor economic data took the star of congressional approval to raise debt ceiling of the United States to avoid a default first.

Major indexes declined for the second consecutive day. Sensex closes 169 points lower than 17 941, and the Nifty fell 52 points closed at 5405. Trading environment remains bearish and the market closed session of the stigma.

Today's decline brought the index heavyweights like L & T, Tata Motors, Axis Bank, Bajaj Auto and DLF, pulling the Nifty is at its lowest intraday 5379. However, the index recovered towards the end and managed to keep the level of 5400.

Since investors are nervous world markets and the weak are flocking to other shelters, including the Nifty has closed below its support rising trend line, indicating that the continued sell-off Dalal Street is possible. We hope to see a rebound after two days of cellophane. U.S. index futures were so positive that we can expect global markets on Thursday.

Today’s Nifty Top gainer were STEEL AUTHORITY  with changes 2.58 %, ITC with changes 1.03 %,BHARAT PETROLEUM  with changes 1.19% and losers were LT with  changes 4.34 %,AXIS BANK  with changes 3.10%, AXISBANK with changes 2.52%

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