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STOCK MARKET CALLS | NIFTY OUTLOOK | ANALYSIS 21ST MAY 2012

STOCK MARKET CALLS | NIFTY OUTLOOK | ANALYSIS 21ST MAY 2012

NIFTY OUTLOOK FOR 21st MAY 2012

NIFTY SPOT LEVEL

TREND - BEARISH

 

 

 

SUPPORT 1 4825
SUPPORT 2 4750
RESISTANCE 1 4950
RESISTANCE 2 4990

BANK NIFTY FUTURES :

TREND- BEARISH

 

 

 

SUPPORT 1 9110
SUPPORT 2 8870
RESISTANCE 1 9480
RESISTANCE 2 9610

STOCK MARKET REVIEW: 18TH MAY 2012

STOCK MARKET CALLS

BSE Small-Cap index was down 0.24% while the BSE Mid-Cap index finished 0.27% down.CNX MIDCAP 50 index was down 0.11% and S&P CNX 500 was up around 0.53%. The SENSEX closed 82 points up at 16,152 and the NIFTY stood at 4906, up by 36 points.

BSE SENSEX and NIFTY traded red initially but recovered sharply in later trading hours as boosted up by State Bank of India, outperformed and railed up to 5 percent after its quarterly earning results. Short covering also helped the markets to go upward as it shown an intraday recovery of more than 300 points from the low. Rupee has also shown a smart recovery to 54.56 against the DOLLAR from its all time low of 54.89. India's largest lender State Bank of India presented better than expected net profit of Rs. 4050 crore for fourth quarter FY12 aided by higher interest income and lower provisioning for non-performing loans.