23-04-2012 Nifty, Bank Nifty View and Trading Levels.

Nifty on Friday:- Indian Markets ended in red on the back selling pressure in realty and oil & gas shares ahead of Q-4 results from Index heavy weight Reliance, with Nifty losing 0.78%. All sectors ended with loss of 0.21% to 1.60% led by Energy, and Realty, however Auto and Fmcg sectors managed to close with marginal gains of 0.02% and 0.16% respectively.

European markets witnessed volatile trade to end in negative with loss of 0.84% to 2.26% except UK closing flat. US markets closed with loss of 0.52% to 0.81% on Thursday. Asian markets continue to close mixed with China, Hangseng, Philippines adding 0.07% to 1.19%, while Japan, Korea, Malaysia, Singapore and Taiwan lost 0.28% to 1.52%.

Tracking negative global markets, Nifty opened negative at 5314 and witnessed choppy trading in a range of 5311-5336 (Day’s High) in the first half of the day till opening of European markets. Volatile trading in European markets and profit booking after 4 days of gains dragged Nifty to hit day’s low of 5245.80, however managed to recover in the last hour of trade to close at 5290.85 losing 41.55 points from previous close.

As per the derivative and options data, the overall Volume PCR stands at 1.06 as against 1.00. This indicates continued long positions in Index Futures, with unwinding in Index option segment in the Markets. FII’s bought 314.04 crores in Equity and sold 240.67 crores in F&O (sold 102.69 crores in Index Futures, 498.83 crores in Stock Futures, 29.97 crores in Stock Options and bought 390.83 crores in Index Options), whereas DII's bought 134.74 crores in equities. This indicates FII's continue to book profits in all segments of the markets, with hedging done in options, whereas DII's booked profits at higher levels in markets.

On Thursday, we have written that for intraday trading on Friday, support at 5285 for Nifty Futures. For paid clients we have given 5345 as initial support and 5255 as last support. Just check your data, Nifty Futures opened at 5310 and recovered immediately to trade in a narrow range of 5333-5345 till opening of European markets. Positive opening in European market saw Nifty hit day’s high of 5353.55, just 8.55 points above our support of 5345 in afternoon trade. Volatile trading with negative trend in European markets dragged Nifty Futures to hit day’s low of 5257.55 (5000 is due to a freak trade done in just one minute) almost exact to our level of 5255. However, Nifty Futures recovered in the last hour of trade on the back of buying at lower levels, to close at 5305.

We also gave 5230 as support for Nifty Spot and for paid clients we gave 5345 as resistance. Nifty Spot almost tested our levels to hit high of 5336, low of 5245, and recovered to close at 5295. For Bank Nifty Spot we gave 10430 as support and paid clients we gave 10540 as resistance and 10360 as support. Bank Nifty almost respected our levels to hit high of 10577, low of 10387 and closed at 10457. For Subscription Details, Visit:- http://nseind.blogspot.com/p/subscription_03.html.

Nifty Future levels for Monday:- Resistance at 5380, 5??? and Support at 5225, 5???. More accurate details for paid subscribers only. For Subscription Details, Visit:- http://nseind.blogspot.com/p/subscription_03.html

More live updates for "subscribers" at "tips.nseindia@yahoo.com" and "tips.nseindia@gmail.com" during market hours.

Trading Range for Nifty Spot on 23-04-2012 will be between 5400-5180.

Important levels to watch:-

Nifty Spot:-

Resistance at 5345, 5400 and Support at 5235, 5180.

Bank Nifty Spot :-
Resistance at 10590, 10740 and Support at 10320, 10170.

Expected Bullish, Bearish and Neutral Stocks in Nifty on 23-04-2012

Bullish Stocks:-
BAJAJ-AUTO, BHARTIARTL, BPCL, CAIRN, CIPLA, COALINDIA, DRREDDY, GAIL, GRASIM, HCLTECH, HDFC, HDFCBANK, HEROMOTOCO, HINDALCO, ITC, KOTAKBANK, LT, M&M, MARUTI, NTPC, ONGC, PNB, POWERGRID, RANBAXY, RCOM, SAIL, SBIN, SESAGOA, SIEMENS, STER, SUNPHARMA, TATAMOTORS, TATAPOWER, TATASTEEL.

Bearish Stocks:-
ACC, AMBUJACEM, BHEL, DLF, ICICIBANK, IDFC, INFY, JPASSOCIAT, RPOWER, WIPRO.

Neutral Stocks:-
AXISBANK, HINDUNILVR, JINDALSTEL, RELIANCE, RELINFRA, TCS.

More live updates for "subscribers" at "tips.nseindia@yahoo.com" and "tips.nseindia@gmail.com" during market hours.