Tuesday, 1 November 2011

STOCK MARKET TODAY : 2ND NOVEMBER 2011

NIFTY SPOT LEVEL: 2ND NOVEMBER 2011
Tomorrow trading is expected between the strong levels of 5150-5300. If the market breaches the level of 5290 on the upper side then the next resistance level will be 5325. But if nifty breaches the support level of 5215 then it may go down till the level of 5175. Nifty tomorrow is strongly expected to trade between the narrow ranges of 5200-5300.

SUPPORT LEVELS
Support 1: 5215
Support 2: 5170

RESISTANCE LEVELS
Resistance 1: 5290
Resistance 2: 5325

BANK NIFTY FUTURES: 2ND NOVEMBER 2011
Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 9700 to 10000. Bank nifty futures can go down till the level of 9600 once it breaks the level of 9710. On the opposite side once breaking the level of 9970, it is expected to go upward till the level of 10140. Bank nifty will be trading between the narrow ranges of 9700-10000.

SUPPORT LEVELS
Support 1: 9710
Support 2: 9600

RESISTANCE LEVELS 
Resistance 1: 9970
Resistance 2: 10140

STOCK MARKET REVIEW: 2ND  NOVEMBER 2011
CNX Midcap index was down about 0.82% while BSE small cap index lost at 0.55% and Midcap lost at 0.69% respectively.

Nifty Gainers
Today’s nifty top gainer were PNB with volume and changes 356,476,592.55and 3.7 % HUL with volume and changes 2,934,294,483.75and 3.3% WIPRO with volume and changes 1,319,498,997.25and 1.4 %

Nifty Losers
Todays nifty top losers were ICICI with volume and changes 5,067,551,598.65and [3.9] % REL INFRA with volume and changes 631,038,252.20and [3.8] % DR. REDDY with volume and changes 505,601,178.75and [3.6] %

The BSE Sensex ended at 17480.83 down 224.18. It had earlier touched a day's high of 17661.78 and a day's low of 17422.47. The NSE Nifty closed at 5257.95.

STOCKS TO PICK: 2nd NOVEMBER 2011

BUY ALLAHABAD BANK ABOVE 151

First Target 153
Second Target 156
Stop Loss 160

BUY UFLEX ABOVE 176.

First Target 178.50
Second Target 182
Stop Loss 186

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