STOCK MARKET TODAY: 29TH DECEMBER 2011

NIFTY SPOT LEVEL: 29^thDECEMBER 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: 29^thDECEMBER 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: 28^TH 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: 29^TH 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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