Tuesday, 23 August 2011

STOCK MARKET TRADING TIPS AND STRATEGIES : 24 AUGUST 2011


NIFTY SPOT LEVEL: 24 August 2011

Tomorrow trading is expected between the strong levels of 4860 to 5025. If the market breaches the level of 4990 on the upper side then the next resistance level will be 4990. But if nifty breaches the support level of 5025 then it may go down till the level of 4860. Nifty tomorrow is strongly expected to trade between the narrow ranges of 4900 to 4990.

SUPPORT:  First Nifty spot level near 4900 and Second Nifty spot level at 4860

RESISTANCE:  First Resistance near to 4990 and second near to 5025.


BANK NIFTY FUTURES: 24 August 2011

Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 9250 to 9715.Bank nifty futures can go down till the level of 9250 once it breaks the level of 9370. On the opposite side once breaking the level of 9600, it is expected to go upward till the level of 9715. Bank nifty will be trading between the narrow ranges of 9370 to 9600.

SUPPORT:  First Nifty spot level near 9370 and Second Nifty spot level at 9250
RESISTANCE:  First Resistance near to 9600 and second near to 9715.

STOCK MARKET REVIEW: 24 August 2011

CNX Midcap index was up about 1.18% while BSE smallcap and Midcap  indexes are also gained at 1.16% and 0.95% Respectively.

BSE Sensex ended at 16,498 gaining 157 points. It had earlier touched a day's high of 16,549 and a day's low of 16,213. It opened at 16,447. The NSE Nifty closed at 4,946 adding 47 points.

Positive rally in Asian market and European market and positive number of PMI data in china as well as euro zone dragged the market upward

Today’s nifty top gainer were AXIS BANK limited with changes 3.09%, BHARAT HEAVY ELE with changes 2.60%, BAJAJ AUTO with changes 4.29% and losers were CIPLA with changes 2.69% .NTPC with changes 1.86 %,RANBAXY with changes 1.44%

STOCKS TO WATCH : 24 august 2011

L&T FINANCE

L&T FINANCE Share closed the trading on NSE closed at Rs.46.45. support and resistance levels for the share for the next trading session are:

Resistance levels

 R1-47

 R2- 47.20

Support levels

S1- 43.95

 S2- 43.80

ARVIND MILLS

ARVIND MILLS, Manufacturers of air-jet loom wove heavy denim and shirting fabrics for the garment industry, from cotton. Also, ready-made clothing closed on NSE at Rs 73.65
Expected levels for this script are as follow:

Resistance levels

R1-74.50
R2- 74.65

Support levels

S1- 71.50

S2- 70

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