Thursday, 1 December 2011

STOCK MARKET TODAY: 2ND DECEMBER 2011


NIFTY SPOT LEVEL: 2nd DECEMBER 2011

Tomorrow trading is expected between the strong levels of 4830-5050. If the market breaches the level of 4975 on the upper side then the next resistance level will be 5050. But if nifty breaches the support level of 4880 then it may go down till the level of 4830. Nifty tomorrow is strongly expected to trade between the narrow ranges of 4880-4975.

SUPPORT LEVELS
Support 1: 4880
Support 2: 4830

RESISTANCE LEVELS
Resistance 1: 4975
Resistance 2: 5050

BANK NIFTY FUTURES: 2nd DECEMBER 2011

Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 8350-8880. Bank nifty futures can go down till the level of 8350 once it breaks the level of 8470. On the opposite side once breaking the level of 8720, it is expected to go upward till the level of 8880. Bank nifty will be trading between the narrow ranges of 8470-8720.

SUPPORT LEVELS
Support 1: 8800
Support 2: 8740

RESISTANCE LEVELS 

Resistance 1: 9000
Resistance 2: 9230

STOCK MARKET REVIEW: 2nd DECEMBER 2011

CNX Midcap index was up about 0.99% while BSE small cap index gained at 0.43% and Midcap gained at 0.97% respectively.

Nifty Gainers

Today’s nifty top gainer were ICICI with volume and changes 22,849,017,962.20and 7.0 %.

HINDALCO with volume and changes 2,588,953,476.15and 6.8%.

SAIL with volume and changes 279,692,814.85and 6.6%.


Nifty Losers
Todays nifty top losers were BHEL with volume and changes 826,391,260.75and [2.2] %.

BPCL with volume and changes 447,413,809.45and [2.2] %.

DR REDDY with volume and changes 491,562,820.50and [2.0] %.

The BSE Sensex ended at 16555.93 up 359.99 points. It had earlier touched a day's high of 16718.11 and a day's low of 16430.61. The NSE Nifty closed at 4936.85.

STOCKS TO PICK: 2nd DECEMBER 2011

SELL MARUTI BELOW 950
First Target 943
Second Target 935
Stop Loss 965

SELL HINDALCO BELOW 129
First Target 127
Second Target 125
Stop Loss 132

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