Intraday Report on Nifty Futures (08th Dec., Wed.)

Nifty future closed in flat note after range bound session .one should adopt  strategy of sell at higher level until it break 6100 level. If nifty future break 5955 level we can see some more selling pressure in it. Support for nifty future is at 5955/5875 and resistance is at 6094/6148 levels.

Resistance: it has first resistance close to the level of 6094 & after it may face the next resistance close to the level of  6148.

Support: It has first support close to the level of 5995 & after it may get the next support close to the level of 5875.
     
Bank nifty saw a sharp fall last two trading session. If it break 11440 level we can see some more correction in it, support for bank nifty future is at 11668/11440 and resistance is at 11955/12100. One should take position after proper break out in both the side.

Resistance: It has first resistance close to the level of 11995 & after it may face the next resistance close to the level of 12100.

Support: It has first support close to the level of 11668 & after it may get the next support close to the level of 11440.

Today's stock market report and news updates

Indian Market:

Nifty was rallied more than 77 points during the day but those gains completely shaved off in late trade due to sell-off in financial, telecom and select healthcare companies' shares.

30-share BSE Sensex closed at 19,981.31, up just 14.38 points over previous closing value, after erasing 236.55 points from day's high of 20,217.86. Even the broader indices ended in red; the BSE Midcap Index was down 0.4% and Smallcap down 0.9%.

France and India on Monday signed a framework contract during President Nicolas Sarkozy's visit to India for the sale of French atomic reactors.

Global Cues:

Most Asian stocks gained on Monday, 6 December 2010, as US stocks on Friday, 3 December 2010, shrugged off weak non-farm payrolls data. The key benchmark indices in China, Hong Kong, Indonesia, Singapore and Taiwan were up by 0.48% to 1.01%. But, the key benchmark indices in Japan and South Korea fell by between 0.19% to 0.3%.

Federal Reserve Chairman Ben Bernanke said US unemployment may take five years to fall to a normal level and that Fed purchases of Treasury securities beyond the $600 billion announced last month are possible.

Euro zone finance ministers meeting on Monday will face pressure to increase the size of a 750 billion euro ($1,006 billion) safety net for crisis-hit members in order to halt contagion in the single currency block.

Nifty Futures Levels for Tomorrow (Tuesday 07th December)

Nifty future saw a positive opening but was not able to sustain at higher levels. If it break 5972 level we can see some more correction in it, one should adopt a strategy for selling on higher levels until it break 6150 levels, support for nifty future is at 5972/5920 and resistance is at 6057/6135.

Resistance levels: It has first resistance close to the level of 6060 & after it may face the next resistance close to the level of 6135.

Support levels: It has first support close to the level of 5972 & after it may get the next support close to the level of 5920.

Free Stock Picks for 07th Dec. Tuesday

Bank nifty future saw a sharp fall in last trading session and closed near to its support level. If bank nifty future sustain below 11950 level we can see more correction in it. Support for bank nifty future is at 11940/11668 and resistance is at the levels of 12270/12450.

Resistance levels: It has first resistance close to the level of 11940 & after it may face the next resistance close to the level of 11668.

Support levels: It has first support close to the level of 12270 & after it may get the next support close to the level of 12450.

Stock Picks for December 2010

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Free Stock Market Picks for Thursday 09th December, 2010

Buy Punj Lloyd Ltd. at/above: 106 Targets: 110 Stoploss : 103

Buy Essar Oil Ltd. at/above: 132.25 Targets: 135.07 - 137.99 Stoploss : 129.39

Buy GAIL (India) Ltd. at / above: 506.25 Targets: 511.63 - 517.3 Stoploss : 500.64

Buy Maruti Suzuki India Ltd. at/above: 1425.06 Targets: 1433.79 - 1443.27 Stoploss : 1415.64

Buy Graphite India Ltd. for 1-3 days at/above: 100 Targets: 102.46 - 105 Stoploss : 97.51


Stock Picks for Wednesday 08th December, 2010

Buy DLF at/above: 301.89 Targets: 306.09 - 310.48 Stoploss : 297.56

Buy Ranbaxy Laboratories Ltd. at/above: 564.06 Targets: 569.73 - 575.71 Stoploss : 558.14

Buy ACC Ltc. at/above: 1000.14 Targets: 1007.55 - 1015.5 Stoploss : 992.25

Buy HCL Technologies Ltd. at/above: 430.56 Targets: 435.54 - 440.77 Stoploss : 425.39

Sell SBI at/below: 2862.25 Targets: 2850.31 - 2836.98 Stoploss : 2875.64

Stock Picks for Tuesday 07th December, 2010

Buy Infosys Technologies Ltd. at/above: 3150.01 Targets: 3162.48 - 3176.55 Stoploss : 3136

Buy GMR Infrastructure Ltd. at/above: 49 Targets: 50.74 - 52.53 Stoploss : 47.26

Buy Apollo Tyres Ltd. at/above: 68.06 Targets: 70.1 - 72.21 Stoploss : 66.01

Buy Suzlon Energy Ltd. at/above: 52.56 Targets: 54.36 - 56.22 Stoploss : 50.76

Sell Tata Power Company Ltd. at/below: 1287.01 Targets: 1278.7 - 1269.77 Stoploss : 1296

Buy Development Credit Bank Ltd. for 2 years Target: Rs. 72

Stock Picks for Monday 06th December

Buy Renuka Sugars at/above: 92.64 Targets: 95.01 - 97.46 Stoploss : 90.25

Buy Glenmark Pharmaceuticals Ltd. at/above: 375.39 Targets: 380.05 – 384.94 Stoploss : 370.56

Buy M&M at/above: 805.14 Targets: 811.84 - 818.98 Stoploss : 798.06

Buy kingfisher Airlines at/above: 72.25 Targets: 74.35 - 76.52 Stoploss : 70.14

Nifty Futures for 06th Dec. Monday

Nifty future moved under range in last two trading session, but closed near to its resistance level of 6060, if nifty future sustain above 6060 level we can see some more up move to 6150 levels. One should take long position above 6060 level. Support for nifty future is at 5960/5900 and resistance is at 6060/6150.

Resistance: It has first resistance close to the level of 6060 & after it may face the next resistance close to the level of 6150.

Support: It has first support close to the level of 5960 & after it may get the next support close to the level of 5900.

Bank nifty future we can see some profit booking in last trading trading session but over all trend is bullish if it manages to sustain above 12650 level we can see more up move from here one should go for long position in bank nifty . support for bank nifty is at 12250/12100 and resistance for bank nifty 12590/12670 levels.

Resistance: It has first resistance close to the level of 12590 & after it may face the next resistance close to the level of 12670.

Support: It has first support close to the level of 12250 & after it may get the next support close to the level of 12100.