Friday, December 2, 2011

Stock News for 2 Dec 2011


Today: As expected, nifty opened with up-side gap but was unable to hold the 5000 level, and started some profit booking. Now consider resistance at 4980-5000; remaining below, profit booking to continue. Downside below 4900-4880, further weakness.


Today: Sensex opened with up-side gap of 500 points and made a high of 16718. Now consider support at 16430 and resistance at 16750. Higher-level to sell side.

Weekly: The Sensex last week recorded a weekly low of 15478. As mentioned last week, it was unable to cross 17000-17200. Downward risk is big for index. In this week, we may consider resistance at 16145-16350; reversal from these levels will start a downward trend again. Lower-level target at 15500-15200 -14700 in coming days, after moving higher last week. Strategy: Sell-on-Rise... Weekly Trend Decider 15823.


Today: Some selling pressure continues at higher level. Today, resistance at 8950-9000, downside support exits at 8750, below further weakness. Major support at 8500.


Closed at 4957


High-volatility to continue at the market. Downside support range at 4880-4900 and major resistance at 4970-5020. Likely trading range 150 points in some more days, thereafter fresh break out expected.

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