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Nifty Trend For Today- 30-12-2011

Nifty Future closed below 4650 in the last expiry session of this year. Markets became weak in the last hour of trade due to slaughtering in capital goods, oil & gas indices. It can be said that nifty is again in its bearish trend once it reaches 4600 level then next support can be seen around 4530.Now, 4810-4850 will act as crucial resistance for nifty. Major weighted stocks Reliance, SBIN are not supporting nifty for uptrend.

TREND: Down

SUPPORT : 4600 & 4530

RESISTANCE: 4730 & 4800

Major Nifty News -

• Sensex, Nifty fall over 1% at close; RIL, Infy, L&T drag.
• Oil & gas and capital goods were the biggest losers.
• Asian markets, euro slip as Europe fears weigh.
• DLF, Hubtown divest stake in Pune-based IT park for Rs 8.1 bn.
• CRISIL downgrades DLF`s debt programmes.
• Food inflation falls sharply to 0.42%

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Free Nifty Tips On Your Mobile- 30-12-2011

CALL : SELL NIFTY FUT BELOW 4690 TARGETS 4670/4645/4620 SL 4715.

CALL : SELL GITANJALI EQ. BELOW 300 TARGETS 297/293.50/290 SL 303.10.

CALL : SELL BAJAJAUTO FUT BELOW 1592 TARGETS 1584/1575/1565 SL 1600.

CALL : SELL IRB FUT BELOW 132 TARGETS 131/129.50/128 SL 133.10.

CALL : BUY NIFTY 4500 PUT OPTION ABOVE 66 TARGETS 80/100/120 SL 55.

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Nifty before expiry shows down trend; break range bound movement but closed above 4700. Yesterday nifty got support around 4680, opening below this level; will take it towards 4630 mark. Due to expiry session we can see more volatile movements in market. Above 4730 level it may cover to 4800-4850 and closing above 4850 will show upward trend in market. So wait and watch the expiry session of year ended 2011.                Happy New Year.  

TREND: Sideways

SUPPORT      : 4670 & 4620

RESISTANCE:  4800 & 4880

Major Nifty News-

• Sensex closes 146 points lower; Jindal Steel plunge.
• Banking stocks crack; ICICI Bank, PNB down over 3%.
• Punjlloyd bags Rs 10.5 bn project from GMR.
• Coal production achieved 91% pro-rata target in 2011
• Tata Power to acquire 51% BP`s stake in solar JV.
• LIC Housing shares rise on fund raising report.

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Free Nifty Tips- 27-12-2011

BUY HAVELLS EQ. ABOVE 402 TARGETS 406/410/415 SL 398.

BUY PUNJLLOYD FUT ABOVE 42 TARGETS 42.50/43.20/44 SL 41.50.

BUY LT 1100 JAN CALL OPTION @ 32 TARGETS 36/40/45 SL 27.

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Markets closed on a positive note for the first session of the week. Buying activity was witnessed but with low volumes. We expect the markets to be range bound trading between 4700-4850 as per the expiry ahead and absence of institutional investors. Strength in nifty can be seen above 4850 while 4940 can act as a hurdle for it. It looks weak below psychological level of 4700 surpassing which it will get support around 4630.

• ·         Sensex trades up 200 points; Infosys, RIL, Bharti lead.
• ·         IT, realty, metal and capital goods were the biggest gainers.
• ·         Havells India in JV with Shanghai Yaming Lighting Co.
• ·         JP Morgan picks 3.26% stake in Madhucon Projects.
• ·         NHAI scraps Goa road contract with IRB Infra.
• ·         ONGC, DGH nod for oil production from Cairn’s Bhagyam field.