STOCK MARKET TODAY : 21 SEPTEMBER 2011

NIFTY SPOT LEVEL: 21 SEPTEMBER 2011

Tomorrow trading is expected between the strong levels of 5050 to 5235. If the market breaches the level of 5180 on the upper side then the next resistance level will be 5235. But if nifty breaches the support level of 5100 then it may go down till the level of 5050. Nifty tomorrow is strongly expected to trade between the narrow ranges of 5100 to 5180.

SUPPORT:  First Nifty spot level near 5100 and Second Nifty spot level at 5050

RESISTANCE:  First Resistance near to 5180 and second near to 5235.

BANK NIFTY FUTURES: 21 SEPTEMBER 2011

Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 9565 to 10175. Bank nifty futures can go down till the level of 9565 once it breaks the level of 9700. On the opposite side once breaking the level of 9960, it is expected to go upward till the level of 10175. Bank nifty will be trading between the narrow ranges of 9700 to 9960.

SUPPORT:  First Nifty spot level near 9700 and Second Nifty spot level at 9565.

RESISTANCE:  First Resistance near to 9960 and second near to 10175.

STOCK MARKET REVIEW: 21 September 2011

CNX Midcap index was up about 0.81% while BSE smallcap and Midcap indexes are also gained at 1.23% and 0.90 % Respectively.

The BSE Sensex ended at 17,099, surging 354 points. It had earlier touched a day's high of 17,135 and a day's low of 16,758. It opened at 16,768. The NSE Nifty closed at 5,140, up 108 points

Today’s nifty top gainer were RELIANCE COMMUNICATION with changes 4.01%, HINDALCO INDUS with changes 4.06%, RELIANCE CAPITAL with changes 4.88% and losers were BHARAT HEAVY ELECTRICALS with changes .88%. ONGC changes 2.95.

STOCKS TO WATCH : 21 September 2011

CHENNAI PETROLEUM

CHENNAI PETROLEUM closed trading AT 199.95 Expected resistance and support levels for the scrip for the next trading session are:

Resistance levels

R1-203

R2- 207

Support levels

S1- 197

S2- 194

ESSAR OIL

ESSAR OIL  closed trading at 94.60 on TUESDAY. Expected resistance and support levels for the scrip for the next trading session are:

Resistance levels

R1-97

R2- 99

Support levels

S1- 91

S2- 88

STOCKS TO PICK : 21 September 2011

Buy DR. REDDYS FUTURES at cmp

First Target 1550

Second Target 1557

Stop loss 1535.45

Buy BATA FUTURES at cmp

First Target 702

Second Target at 705

Stop loss 693.65

Buy EICHER MOTORS at cmp

First Target 1568

Second Target 1580

Stop loss 1534.45