STOCK MARKET TODAY: 17TH NOVEMBER 2011

NIFTY SPOT LEVEL: 17^TH NOVEMBER 2011

Tomorrow trading is expected between the strong levels of 4930-5130. If the market breaches the level of 5070 on the upper side then the next resistance level will be 5130. But if nifty breaches the support level of 4970 then it may go down till the level of 4930. Nifty tomorrow is strongly expected to trade between the narrow ranges of 4970-5070.

SUPPORT LEVELS

Support 1: 4970

Support 2: 4930

RESISTANCE LEVELS

Resistance 1: 5070

Resistance 2: 5130

BANK NIFTY FUTURES: 17^TH NOVEMBER 2011

Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 8940 to 9350. Bank nifty futures can go down till the level of 8940 once it breaks the level of 9050. On the opposite side once breaking the level of 9245, it is expected to go upward till the level of 9350. Bank nifty will be trading between the narrow ranges of 9050-9245.

SUPPORT LEVELS

Support 1: 9050

Support 2: 8940

RESISTANCE LEVELS 

Resistance 1: 9245

Resistance 2: 9350

STOCK MARKET REVIEW: 17^TH NOVEMBER 2011

CNX Midcap index was down about 0.79% while BSE small cap index lost at 1.34% and Midcap lost at 0.94% respectively.

Nifty Gainers

Today’s nifty top gainer were JINDAL STEEL with volume and changes 752,126,477.10and 2.2 % M&M with volume and changes 1,930,325,514.45and 2.1%

SBI with volume and changes 5,931,500,944.90and 2.1%.

Nifty Losers

Todays nifty top losers were

SAIL with volume and changes 256,268,123.95and [5.3] % SIEMENS with volume and changes 766,860,346.55and [4.9] % JP ASSOCIATES with volume and changes 554,609,464.45and [4.5] %.

The BSE Sensex ended at 16775.87 down 106.80 points. It had earlier touched a day's high of 16878.30 and a day's low of 16641.65. The NSE Nifty closed at 5030.45.

STOCKS TO PICK: 17^TH NOVEMBER 2011

BUY M&M AT 775.25

First Target 782

Second Target 790

Stop Loss 763

BUY SBI ABOVE 1780

First Target 1800

Second Target 1820

Stop Loss 1750.

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