Wednesday, 16 May 2012

STOCK MARKET TODAY: 17TH MAY 2012

Stock Trading Levels
NIFTY SPOT LEVEL: 17TH MAY 2012
Today trading is expected between the broad levels of 4810-4910. If the market breaches the level of 4880 on the upper side then the next resistance level will be 4910. But if nifty breaches the support level of 4835 then it may go down till the level of 4810.

SUPPORT LEVELS

Support 1: 4835
Support 2: 4810
RESISTANCE LEVELS
Resistance 1: 4880
Resistance 2: 4910

BANK NIFTY FUTURES: 17TH MAY 2012

Based on the running trading scenario bank nifty future is expected to trade between the broad levels of 8980-9300. Bank nifty futures can go down till the level of 8990 once it breaks the level of 9070. On the opposite side once breaking the level of 9230, it is expected to go upward till the level of 9300. Bank nifty will be trading between the narrow ranges of 9070-9230.

SUPPORT LEVELS
Support 1: 9070
Support 2:  8980
RESISTANCE LEVELS 
Resistance 1: 9230
Resistance 2: 9300
STOCK MARKET ANALYSIS: 16TH MAY 2012


The SENSEX closed 298 points down at 16,030 and the NIFTY stood at 4858, down by 84 points.

BSE Small-Cap index was down 1.11% while the BSE Mid-Cap index finished 0.78% down.CNX MIDCAP 50 index was down 0.86% and S&P CNX 500 was down around 1.56%.


Nifty Gainers

Today’s nifty top gainer were :
  • BPCL changed 2.53% with 17, 02,511 volumes.
  • POWERGRID changed 1.65% with 24, 94,887 volumes.
  • CAIRNS changed 1.30% with 44, 50,540 volumes.


Nifty Losers

Today’s nifty top losers were
  • TATAMOTOR with volume 2, 30, 45,441 and changed -7.70%
  • TATASTEEL with volume 51, 10,447 and changed -4.40%.
  • SAIL with volume 46, 29,959 and changed -4.18%.
STOCK MARKET TRADING TIPS TO PICK: 17TH MAY 2012

BUY STAR ABOVE 702
First Target 706
Second Target 712
Stop Loss 695
BUY BPCL FUTURES ABOVE 770
First Target 775
Second Target 782
Stop Loss 764

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