Stock tips for tomorrow:
BUY INFY ABOVE 2800 TARGET 2850 & 2910 SL- 2875
BUY INFY 2800 CALL OPTION @ 15 TGT-30 & 55 SL-6
Stock market review:
Today’s trade in Indian share market was volatile and choppy amidst a movement within a tight range till mid session. In latter half, stock indices witnessed a sudden selling pressure and descended significantly. Most of the Sectoral stock indices barring tech, Pharma and power stocks witnessed a weak start and further declined. Higher volatility in today's stock market was witnessed as traders roll over positions in Futures & Options segment from the near-month December 2011 series to January 2012 series. Banking stocks extended Tuesday's (27 December 2011) losses on fears of increase in bad loans in a slowing economy. Infrastructure financier IDFC hit 52-week low. Metal stocks fell as hedge funds reduced bets on higher global commodity prices to the lowest level since 2009 in the week ended 20 December 2011. Index heavyweight Reliance Industries (RIL) declined significantly. Gas output from Reliance Industries' eastern offshore KG-D6 gas field declined to a fresh low of 38.66 million cubic metres per day during the week ended 18 December 2011. The stock markets lost significantly today with banking, metal and oil & gas playing lead roles in pulling the indices down. The Sensex closed at 15728, down 146 points from its previous close, and the Nifty shut shop at 4706, down 45 points.
• Level wise, closing above in nifty the threshold 4700 levels may extend support to the recovering strength of the bulls in the forthcoming sessions.
• Broader market witnessed weak sentiments, segments, like large caps, small cap and midcap were under bear’s clout. Owing to this, bulls lost the control to the bears with significant margin.
• Due to buying Nifty recover significantly and closed above 9 day’s SMA placed at the level of 4687 & 4740 but, continued to close below its vital 14,50 & 100 day’s SMA placed at 4723,4960 & 4993.
• Though, VIX, the barometer of uncertainty, corrected sharply and closed at 26+, yet it indicates a more than average volatility in market in the forthcoming sessions.
• RSI (14) for the session was at 43.23 levels and MACD closed above the signal line
Nifty Level for tomorrow:
Get the significant nifty levels for tomorrow's share market
Resistance Level 1-4755
Resistance Level 2-4815
Support Level 1-4665
Support Level 2-4580
BUY INFY ABOVE 2800 TARGET 2850 & 2910 SL- 2875
BUY INFY 2800 CALL OPTION @ 15 TGT-30 & 55 SL-6
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Stock market review:
Today’s trade in Indian share market was volatile and choppy amidst a movement within a tight range till mid session. In latter half, stock indices witnessed a sudden selling pressure and descended significantly. Most of the Sectoral stock indices barring tech, Pharma and power stocks witnessed a weak start and further declined. Higher volatility in today's stock market was witnessed as traders roll over positions in Futures & Options segment from the near-month December 2011 series to January 2012 series. Banking stocks extended Tuesday's (27 December 2011) losses on fears of increase in bad loans in a slowing economy. Infrastructure financier IDFC hit 52-week low. Metal stocks fell as hedge funds reduced bets on higher global commodity prices to the lowest level since 2009 in the week ended 20 December 2011. Index heavyweight Reliance Industries (RIL) declined significantly. Gas output from Reliance Industries' eastern offshore KG-D6 gas field declined to a fresh low of 38.66 million cubic metres per day during the week ended 18 December 2011. The stock markets lost significantly today with banking, metal and oil & gas playing lead roles in pulling the indices down. The Sensex closed at 15728, down 146 points from its previous close, and the Nifty shut shop at 4706, down 45 points.
• Level wise, closing above in nifty the threshold 4700 levels may extend support to the recovering strength of the bulls in the forthcoming sessions.
• Broader market witnessed weak sentiments, segments, like large caps, small cap and midcap were under bear’s clout. Owing to this, bulls lost the control to the bears with significant margin.
• Due to buying Nifty recover significantly and closed above 9 day’s SMA placed at the level of 4687 & 4740 but, continued to close below its vital 14,50 & 100 day’s SMA placed at 4723,4960 & 4993.
• Though, VIX, the barometer of uncertainty, corrected sharply and closed at 26+, yet it indicates a more than average volatility in market in the forthcoming sessions.
• RSI (14) for the session was at 43.23 levels and MACD closed above the signal line
Nifty Level for tomorrow:
Get the significant nifty levels for tomorrow's share market
Resistance Level 1-4755
Resistance Level 2-4815
Support Level 1-4665
Support Level 2-4580
