Wednesday, 16 November 2011

STOCK MARKET TODAY: 17TH NOVEMBER 2011

NIFTY SPOT LEVEL: 17TH 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: 17TH 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: 17TH 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: 17TH 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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