Wednesday, 28 December 2011

STOCK MARKET TODAY: 29TH DECEMBER 2011


NIFTY SPOT LEVEL: 29thDECEMBER 2011
Tomorrow trading is expected between the broad levels of 4595-4805. If the market breaches the level of 4765 on the upper side then the next resistance level will be 4805. But if nifty breaches the support level of 4655 then it may go down till the level of 4595.

SUPPORT LEVELS 

Support 1: 4655
Support 2: 4595
RESISTANCE LEVELS
Resistance 1: 4765
Resistance 2: 4805
BANK NIFTY FUTURES: 29thDECEMBER 2011
Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 7905-8315. Bank nifty futures can go down till the level of 8005 once it breaks the level of 7905. On the opposite side once breaking the level of 8205, it is expected to go upward till the level of 7905. Bank nifty will be trading between the narrow ranges of 8005-8205. 

SUPPORT LEVELS
Support 1: 8005
Support 2: 7905
RESISTANCE LEVELS 
Resistance 1: 8205
Resistance 2: 8315
STOCK MARKET REVIEW: 28TH DECEMBER 2011
NSE Nifty managed to keep its head above the 4700 mark after dipping under it in intraday trade. The NSE Nifty closed at 4,705, down 45 points over the previous close. 

The BSE Sensex ended at 15,727, down 146 points over the previous close. It had earlier touched a day’s high of 15,887 and a day’s low of 15,666. It had opened at 15,854.
The BSE SMALL-CAP index and the BSE MIDCAP index were down 1% apiece.
CNX MIDCAP index was down -0.98% and S&P CNX 500 was down -0.98%.

Nifty Gainers

Today’s nifty top gainer were :
NTPC changed 2.8%.With volume 2,118,610.
BHEL with volume 3,204,742 and changed 2.6%.
TATA POWER changed 1.6% with volume of 5,649,736.
Nifty Losers

Today’s nifty top losers were:

JINDAL STEEL volume 4,667,061and changed [7.1] %.
PNB with volume 412,914and changed [4.2] %.
ICICI with volume 3,731,427and changed [4.0] %.
STOCKS TO PICK: 29TH DECEMBER 2011

SELL JINDAL STEEL & POWER BELOW 445
First Target 443
Second Target 441
Stop Loss 450

SELL RAYMOND FUTURE AROUND CMP 305
First Target 303
Second Target 301
Stop Loss 310

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