BANK NIFTY OUTLOOK TODAY 30th March

The bank Nifty could be moving in an upward moving channel. So long as the support line remains unviolated the upmove could continue. The correction having arrested above the 38.2% fibo level adds strength to the view. Support on the channel now at 10490.

SUPPORT & RESISTANCE LEVELS :-

Resistance :- It has first resistance close to the level of 11700 above this level the next resistance is seen near to the level of 12050.

R1-11658 R2-11733 R3-11808 

Support :- It has first support close to the level of 11520 & below this level the next support is seen near 11330 marks.

S1-11507 S2-11432 S3-11357

NIFTY TIPS FOR MONDAY 21st March 11

Today 21st March,First of all, Spot Nifty should open and sustain at least above 5375 in the opening bell. Nifty hurdle is at 5390. Spot Nifty will face the first Strong Resistance at 5405-5410 levels. above 5420 of Spot Nifty, Fresh buying will commence and Spot Nifty may reach 5450-5485-5510-5525 strong resistance-5560 levels. Otherwise, If Spot Nifty could not sustain 5375 in the opening bell then profit booking can pull the Spot Nifty Down up to 5350-5335-5320-5290 levels. panic selling may start below 5290 and Spot Nifty may come down at 5255-5215 Levels & Market will enter into a Bearish zone.

Nifty Intraday Levels for Monday 21st March 2011 :-

SUPPORT 1 SUPPORT 2 RESISTANCE 1 RESISTANCE 2

     5332         5291               5449               5524  

Nifty Future Levels for Monday 21 March 2011 :-

SUPPORT 1 SUPPORT 2 RESISTANCE 1 RESISTANCE 2

    5343          5300              5466                5545  

BANK NIFTY OUTLOOK FOR MONDAY 21st March :-

In banking, CNX Bank Index lost -105.65 points or -0.96 %. Amongst the banking stocks Canara Bank, City Union Bank and Bank of Maharashtra lead the row.

Bank Nifty Futures shut stop at 10715.90 down -136.05 points or -1.25 %.It is looking bearish in the coming trading session if it manages to trade below the support level of 10615 else above 10960 it would be in an upward trend.

RESISTANCE:- 10960 & 11050.
SUPPORT:-      10615 & 10520.


STOCKS TO WATCH TODAY :-

The stocks to watch today are REC, Bharti Shipyard and airline stocks.
Aviation stocks may fall as airfares went up by over 100% in key sectors as agitation in the northern region of the country increased. 
REC will be in the buzzer on plans of raising $1 billion in 2011-12 through a corporate bond issue in the USA. The corporation has recently raised $500-million through a bond issue in the international market.
Bharti Shipyard may rise on reports of an estimated order book of Rs 2,000 crore over the next one year.