Due to the stong global cues our Market shows steady buying with Nifty clocking in good gains. Top gainers were Reliance, ICICI bank and HDFC bank. Among the BSE sectorial Realty and Power were the top gainers.FMCG index closed in the red. Market breath was positive. Finally the nifty closed with a gain of 60 points to close at 5124.
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Nifty futures for the month of July declined in price and added 2100 shares in open interest –indicating further gains.
Among sectorial indices for September, Bank Nifty future series gained in price and the index added 13000 shares in open interest, suggesting positive movement. CNXIT index gained and shedd 350 shares in open interest , suggesting some profit booking.
Some stock futures which took the nifty higher were, ACC gained in price and added 2 lakh in open interest, indicating positive outlook.Ambuja gained and added 5 lakh shares in open interest, indicating positive outlook. HCL gained and shedd 2 lakh shares in open interest, indicating profit booking.Some of the Losers were, M&M declined in price and added 17000 shares in open interest ,suggesting further weakness.TCS declined in price with 1 lakh shares shedd open interest, indicating negative outlook, declined and added 61000 , indicating buying.
Some other F&O gainers were IVRCL infra, unitech, Treveni, JP associates and Moser baer. Some of the losers were TTK prestige, Petronet,United phosphorus and Orchid chemical.
SBI was the most active counter on the NSE with a total volume of 1067 crores.
Stock recommendations for Today:
Our stock market is expected to open with a flat to postive note. We can see the all nifty trend remains slightly positive. For today the nifty resistance
level at 5200 above 5230-5341 and the nify support level at 5082 below 5017.
FREE STOCK CALLS FOR TODAY(9-SEPTEMBER-2011)
1) UNION BANK (241)
Support at 236 and 232. Resistance at 244 above 255 and more. (Buy at declines)
2) STERLITE (137)
Resistance is at 138.5 above 140 and 143. Support at 135 below 133. (Buy at declines)
3) RANBAXY (486)
Resistance at 489 above 498 and 505. Support at 480 below 473. (Buy at declines)
4) MARUTI (1131)
Resistance at 1155 above 1175. Support at 1121 below 1108. (Buy at declines)
5) TATA MOTORS (769)
Resistance is there at 773 above 780 above 800. Support at 762 below 755. (Buy at declines)
