Tuesday, 15 November 2011

STOCK MARKET TODAY : 16TH NOVEMBER 2011


NIFTY SPOT LEVEL: 16TH NOVEMBER 2011
Tomorrow trading is expected between the strong levels of 4970-5200. If the market breaches the level of 5140 on the upper side then the next resistance level will be 5200. But if nifty breaches the support level of 5035 then it may go down till the level of 4970. Nifty tomorrow is strongly expected to trade between the narrow ranges of 5035-5140.

SUPPORT LEVELS
Support 1: 5035
Support 2: 4970

RESISTANCE LEVELS
Resistance 1: 5140
Resistance 2: 5200

BANK NIFTY FUTURES: 16TH NOVEMBER 2011
Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 8920 to 9250. Bank nifty futures can go down till the level of 8920 once it breaks the level of 9000. On the opposite side once breaking the level of 9160, it is expected to go upward till the level of 9250. Bank nifty will be trading between the narrow ranges of 9000-9160.

SUPPORT LEVELS
Support 1: 9000
Support 2: 8920

RESISTANCE LEVELS 
Resistance 1: 9160
Resistance 2: 9250

STOCK MARKET REVIEW: 16TH NOVEMBER 2011

CNX Midcap index was down about 2.58% while BSE small cap index lost at 2.77% and Midcap lost at 2.58% respectively.

Nifty Gainers
Today’s nifty top gainer were CIPLA with volume and changes 280,364,754.05and 6.5 % TATAMOTORS with volume and changes 2,852,405,269.25and 1.9%
HDFC BANK with volume and changes 1,453,835,560.20and 0.2%.

Nifty Losers
Todays nifty top losers were DLF with volume and changes 840,860,558.60and [7.2] % JP ASSOCIATES with volume and changes 766,860,346.55and [6.3] %
RCOM with volume and changes 554,609,464.45and [5.4] %

The BSE Sensex ended at 16882.67 down 237.06 points. It had earlier touched a day's high of 17172.29 and a day's low of 16837.05. The NSE Nifty closed at 5068.50.

STOCKS TO PICK: 16TH NOVEMBER 2011

SELL M&M AT CMP 759.25

First Target 750
Second Target 740
Stop Loss 775

BUY PRAKASH CONSTROWELL ABOVE 280
First Target 287
Second Target 294
Stop Loss 265.

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