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Monday, April 30, 2012

Nifty stock outlook may 2 2012

Nifty stock outlook may 2 2012, Nifty chart outlook ; The Indian stock markets had a positive outing on the bourses on the last trading day of the month of April and ahead of the market holiday tomorrow may 1 2012. After opening in the green, markets remained in the positive zone for the entire session today.

The indices recovered from the day's lows towards the end of trade, but still closed well in the positive. While the BSE-Sensex closed higher by around 131 points (up 0.8%), the NSE-Nifty closed higher by around 39 points. The BSE MidCap and BSE Small cap, also had a good day. The smaller indices closed higher by 0.7% and 0.6% respectively. IT and Oil and gas were the top gainers. Consumer durables and FMCG were the only indices to close in the red.

how the markets will perform tomorrow, May 02. The same are as follows:

Shanu Goel - Sr. Research Analyst-Bonanza Portfolio:
This week results of HUL, Hero Motocorp, Bharti Airtell, BOB and Corporation bank are due which could influence the market trend. Apart from the quarterly results, Production data of core sector for the month of March is also due this week, which could influence the short term trend of the market. Important support exists at 5,130-5,125 levels.

Milan Bavishi - Head Research- Inventure Growth & Securities:
In the near term, Nifty (spot) has resistance at 5,450 and supports lie at 5,130 levels. The bias is positive.

Sharmila Joshi - Head Equity, Fairwealth Securities:
The support for Nifty is at 5,100 levels and the resistance now at 5400 levels. Investors would be closely eyeing the personal income data to be released in the US today evening. On domestic front, Century Textiles and Bharti Airtel are among the prominent companies which would be declaring their results on Wednesday.

Puneet Kinra - Sr. Technical Analyst-Bonanza Portfolio:
Nifty is trading in 5,150-5,250 zone and Nifty also has good support at 5,120 levels. Until, decisive breakout or breakdown occurs, volatility may be continuing in this zone. Directional price movement may be seen if Nifty decisively maintain above 5,250 or below 5,150-5,120 zone. Traders should be cautious in this zone. Traders should be cautious.

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