STOCK MARKET TODAY : 29 SEPTEMBER 2011

NIFTY SPOT LEVEL: 29 SEPTEMBER 2011

Tomorrow trading is expected between the strong levels of 4790 to 5105. If the market breaches the level of 5055 on the upper side then the next resistance level will be 5105. But if nifty breaches the support level of 4860 then it may go down till the level of 4790. Nifty tomorrow is strongly expected to trade between the narrow ranges of 4860 to 5055.

SUPPORT:  First Nifty spot level near 4860 and Second Nifty spot level at 4790

RESISTANCE:  First Resistance near to 5055 and second near to 5105.

BANK NIFTY FUTURES: 29 SEPTEMBER 2011

Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 9320 to 1000. Bank nifty futures can go down till the level of 9320 once it breaks the level of 9480 . On the opposite side once breaking the level of 9850, it is expected to go upward till the level of 1000. Bank nifty will be trading between the narrow ranges of 9480  to 9850.

SUPPORT:  First Nifty spot level near 9480  and Second Nifty spot level at 9320.

RESISTANCE:  First Resistance near to 9850 and second near to 1000.

STOCK MARKET REVIEW: 29 September 2011

CNX Midcap index was down about 0.85% while BSE small cap and Midcap indexes are also lost at 0.97% and 0.88 % respectively.

The BSE Sensex ended at 16446 down 78 points. It had earlier touched a day's high of 16,663.26 and a day's low of 16,363.63. The NSE Nifty closed at 4945.

Today’s nifty top gainer were ITC with changes 1.89%, RANBAXY with changes 1.94%, DLF with changes 2.98% and losers were RELIANCE CAPITAL with changes 6.55%. RELIANCE POWER 3.11%

STOCKS TO WATCH : 29 September 2011

CROMPTON GREAVES

CROMPTON GREAVES closed trading at 151.25. Expected resistance and support levels for the scrip for the next trading session are:

Resistance levels

R1-154.20

R2- 156

Support levels

S1- 149.90  

S2- 147.50

BHARTI AIRTEL

BHARTI AIRTEL closed trading at 379.25. Expected resistance and support levels for the scrip for the next trading session are:

Resistance levels

R1-386

R2- 392

Support levels

S1- 375.50  

S2- 372.50