STOCK MARKET TODAY 24TH OCTOBER 2011

NIFTY SPOT LEVEL: 24TH OCTOBER 2011

Tomorrow trading is expected between the strong levels of 4950-5150. If the market breaches the level of 5070 on the upper side then the next resistance level will be 5120. But if nifty breaches the support level of 5055 then it may go down till the level of 5015. Nifty tomorrow is strongly expected to trade between the narrow ranges of 5050 to 5150.

SUPPORT LEVELS

Support 1: 5020

Support 2: 4975

RESISTANCE LEVELS

Resistance 1: 5070

Resistance 2: 5120

BANK NIFTY FUTURES: 24TH OCTOBER 2011

Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 9500 to 10000. Bank nifty futures can go down till the level of 9450 once it breaks the level of 9560. On the opposite side once breaking the level of 9780, it is expected to go upward till the level of 9860. Bank nifty will be trading between the narrow ranges of 9550-9800.

SUPPORT LEVELS

Support 1: 9560

Support 2: 9450

RESISTANCE LEVELS 

Resistance 1: 9780

Resistance 2: 9860

STOCK MARKET REVIEW: 24TH OCTOBER 2011

CNX Midcap index was down about 0.86% while BSE small cap index lost at 0.60% and Midcap lost at 0.68% respectively.

Nifty Gainers

Today’s nifty top gainer were BAJAJ AUTO with volume and changes 2,205,295,477.95and 1.7 % MARUTI with volume and changes 560,626,739.40and 1.6% SIEMENS with volume and changes 112,529,936.65and 1.4 %

Nifty Losers

Todays nifty top losers were L&T with volume and changes 2,008,533,066.85and [3.6] % BHARTI AIRTEL with volume and changes 964,102,898.75and [3.1] %

TATA MOTOR with volume and changes 2,486,248,564.05and [2.7] %

The BSE Sensex ended at 16785.64 down 151.25. It had earlier touched a day's high of 17032.32 and a day's low of 16752.21. The NSE Nifty closed at 5049.95.

STOCKS TO PICK: 24TH OCTOBER 2011

BUY AXIS BANK ABOVE 1138

First Target 1145

Second Target 1153

Stop Loss 1165

BUY GRASIM ABOVE 2310.

First Target 2326

Second Target 2340

Stop Loss 2360

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