STOCK MARKET TODAY 31ST OCTOBER 2011

NIFTY SPOT LEVEL: 31^st OCTOBER 2011

Tomorrow trading is expected between the strong levels of 5250-5450. If the market breaches the level of 5395 on the upper side then the next resistance level will be 5450. But if nifty breaches the support level of 5300 then it may go down till the level of 5250. Nifty tomorrow is strongly expected to trade between the narrow ranges of 5300 to 5395.

SUPPORT LEVELS

Support 1: 5300

Support 2: 5250

RESISTANCE LEVELS

Resistance 1: 5395

Resistance 2: 5450

BANK NIFTY FUTURES: 31^st OCTOBER 2011

Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 9695 to 10295. Bank nifty futures can go down till the level of 9695 once it breaks the level of 9800. On the opposite side once breaking the level of 10135, it is expected to go upward till the level of 10295. Bank nifty will be trading between the narrow ranges of 9800-10135.

SUPPORT LEVELS

Support 1: 9800

Support 2: 9695

RESISTANCE LEVELS 

Resistance 1: 10135

Resistance 2: 10295

STOCK MARKET REVIEW: 31^st OCTOBER 2011

CNX Midcap index was UP by 2.35% while BSE small cap index went up by .88% and Midcap was up by 1.51%.

Nifty Gainers

Today’s nifty top gainer were HINDALCO, which surged around 11 %, RELIANCE INFRA which climbed by 9.6%, and STERLITE in row also surged around 8.7 %

Nifty Losers

Today’s nifty top losers were BPCL with volume and fell about 3.1% and MARUTI SUZUKI fell almost 2 % and BHARTI AIRTELL fell around 0.3% in the positive market.

SENSEX ended at 17,804, up 515 points. It had earlier touched a day’s high of 17,908 and  NIFTY closed at 5,353, up 152 points over the previous close. It earlier touched a day’s high of 5,399.

STOCKS TO PICK: 31^ST OCTOBER 2011

BUY LUPIN ABOVE 476.98

FIRST TARGET 480

SECOND TARGET 484

STOP LOSS 469

SELL BGR ENERGY BELOW 324.70.

FIRST TARGET 320.30

SECOND TARGET 316

STOP LOSS 316

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