SHARE MARKET CLOSING BELL 31st May 2012
The markets recovered in the last half-an-hour to close with only moderate losses. Auto was the biggest laggard in today's session and banking, consumer durables and capital goods, too, lost significantly. Realty, IT and tech supported the indices well. The Sensex closed at 16219, down 94 points from its previous close, and the Nifty shut shop at 4924, down 26 points. The CNX Midcap index was up 0.2% while the BSE Smallcapindex lost 0.6% in today's trade. The market breadth was negative with advances at 623 against declines of 820 on the NSE. The top Nifty gainers were JP Associates, Asian Paints, IDFC and SAIL while the biggest losers included Maruti, ICICI Bank, Tata Motors and Jindal Steel.
SHARE MARKET TREND >>JUNE OUTLOOK
The month of June is going to be an important one for equity markets due to the crucial Greek elections. Markets can or may remain weak, maybe not because this month has been so bad, but in general we are not overly anticipating that we will not get any clarity immediately. But if there is a Greek exit that will take 6-7 months or more, there will be many negotiations. Whoever wins will negotiate with the rest of Europe. So, it won’t happen straightaway
NIFTY TREND>>SUPPORT AND RESISTANCE 1 st June
Support1 = 4894 Resistance1 = 4940
Support2 = 4864 Resistance2 = 4956
Support3 = 4848 Resistance3 = 4986
FILL THE FORM FOR COMMODITY OUTLOOK 1st June 2012
