Tuesday, 27 September 2011

STOCK MARKET TODAY : 28 SEPTEMBER 2011


NIFTY SPOT LEVEL: 28 SEPTEMBER 2011

Tomorrow trading is expected between the strong levels of 4875 to 5055. If the market breaches the level of 5015 on the upper side then the next resistance level will be 5055. But if nifty breaches the support level of 4910 then it may go down till the level of 4875. Nifty tomorrow is strongly expected to trade between the narrow ranges of 4910 to 5015.

SUPPORT:  First Nifty spot level near 4910 and Second Nifty spot level at 4875

RESISTANCE:  First Resistance near to 5015 and second near to 5055.

BANK NIFTY FUTURES: 28 SEPTEMBER 2011

Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 9410 to 9910. Bank nifty futures can go down till the level of 9410 once it breaks the level of 9550. On the opposite side once breaking the level of 9780, it is expected to go upward till the level of 9910. Bank nifty will be trading between the narrow ranges of 9550 to 9780.

SUPPORT:  First Nifty spot level near 9550 and Second Nifty spot level at 9410.

RESISTANCE:  First Resistance near to 9780 and second near to 9910.

STOCK MARKET REVIEW: 28 September 2011

CNX Midcap index was UP about 1.39% while BSE small cap and Midcap indexes are also GAINED at 1.36% and 1.60 % respectively.

The BSE Sensex ended at 16524.03 up 472.93 points. It had earlier touched a day's high of 16551.65 and a day's low of 16282.74. The NSE Nifty closed at 4971.25, up 135.85 points.

Today’s nifty top gainer were RELIANCE INDUSTRY with changes 5.01%, TATA MOTORS with changes 6.13%, DLF with changes 8.19 % and losers were CIPLA with changes .38%. BHARAT PETROLEUM changes .11%

STOCKS TO WATCH : 28 September 2011

STATE BANK OF INDIA

SBI closed today’s session at 1996.20. Support and resistance levels for the share for the next trading session are:

Resistance levels

R1-2006

R2- 2015

Support levels   

S1- 1975  

S2- 1958

DLF

DLF has seen trading within the range of 217.35. Expected levels for this script are as follow:

Resistance levels

R1-221.40

R2- 225

Support levels

S1- 205

S2- 199


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