Wednesday, 21 September 2011

STOCK MARKET TODAY : 22 SEPTEMBER 2011

NIFTY SPOT LEVEL: 22 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: 22 SEPTEMBER 2011

Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 9640 to 10180. Bank nifty futures can go down till the level of 9640 once it breaks the level of 9780. On the opposite side once breaking the level of 10030, it is expected to go upward till the level of 10180. Bank nifty will be trading between the narrow ranges of 9780 to 10030.

SUPPORT:  First Nifty spot level near 9780 and Second Nifty spot level at 9640.

RESISTANCE:  First Resistance near to 10030 and second near to 10180.

STOCK MARKET REVIEW: 22 September 2011

CNX Midcap index was up about 1.03% while BSE smallcap and Midcap indexes are also gained at 0.71% and 0.73 % Respectively.

The 50-share NSE Nifty fell 6.95 points, to close at 5,133.25 and the 30-share BSE Sensex dropped 34.13 points, to end at 17,065.15

Today’s nifty top gainer were STEEL AUTHORITY with changes 1.75%, JAIPRAKASH ASSOCIAT  with changes 1.93%, ICICI with changes 2.14% and losers were HERO MOTOCORP with changes 3.24%. RELIANCE INDUS changes 1.67.

STOCKS TO WATCH : 22 September 2011

TATA MOTORS

TATA MOTORS closed trading AT 164.85 Expected resistance and support levels for the scrip for the next trading session are:

Resistance levels

R1-167

R2- 170

Support levels

S1- 162

S2- 159

STERLITE INDS

SRELITE INDUSTRIES closed trading at 134.10. Expected resistance and support levels for the scrip for the next trading session are:

Resistance levels

R1-137 

R2- 140

Support levels

S1- 132

S2- 129

STOCKS TO PICK : 22 September 2011


Buy FINTECH FUTURES above 907
First target 913
Second Target 922
Stop loss 898.45

Buy GRAVITA INDIA above 428
First Target 435
Second target 442
Stop Loss 421.45

Buy TITAN FUTURES at cmp
First Target 237
Second Target 240
Stop loss 231.85

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