Share market updates : Nifty support levels

All key US Stock indices rallied yesterday wherein the Dow Jones and the S&P 500 posted their biggest gains in three months as positive cues from Retails Sales and Pending home sales was conjugated with ECB’s plan to extend liquidity measures. Almost all stock markets in Asia are trading in the green.

Back home, The NSE Nifty is expected to witness a positive start for the 5th consecutive session. The Critical level for the bullish momentum is at 6006. Due to the weekend and in the absence of any Major news flow today, the Nifty may consolidate around these levels while the trading range is between first Resistance 6040 and the Lower Support at 5978. However if market breaks this range, the upside may be capped at 6066 and below 5978, the index may loose some of its gains before finding Support at 5944.

Share market updates

STOCKS

ONGC seen up as govt OKs

1:1 bonus share issueas well as a 2-for-1 stock split.

BHEL: Bags 2665 cro order from Chattisgarh.

BHARTI AIRTEL and PUNJ LLOYD are the only two companies who have submitted

bids to buy out Telecom Consultants of India's 30% stake in Bharti Hexacom;

winner may have to shell out over 1800 cro for stake buy.

Comptroller and Auditor General's report on extra spectrum telecom firms

have got to have minimal impact on BHARTI AIRTEL

CIPLA: Supreme Court dismisses Bayer's plea to block the company's low cost

cancer drug launch.

DEWAN HOUSING: To buy Deutsche Postbank assets in India for

10.8 bln rupees.

EIH: RELIANCE INDUSTRIES not to seek board representation on the company's

board in the foreseeable future.

.

EMAMI: Emerges frontrunner for Paras Pharma with $750-mln bid.

GODREJ CONSUMER: Plans soap price hikes due to margin pressure.

HERO HONDA: Hero Group agrees to royalty payments of 8% of overall

sales per annum to Honda Motors in return for a technology makeover and stake

sale. November total sales 421,366 vehicles, up 10.5% on year.

JAIPRAKASH ASSOCIATES: Sold 1.10 mln tn of cement in November, up 12.2%

from 981,000 tn a year ago.

MARUTI SUZUKI: To raise vehicle prices as margins under pressure.

NEYVELI LIGNITE: Government plans to dilute 10% stake in the company next

year.

ONGC: Government OKs stock split ahead of follow-on

public offer.

SCI: 84.7-mln-share follow-on public offer fails to

enthuse investors even on second day, as it received bids for only 44% of the

total shares on offer.

TATA GLOBAL BEVERAGES: Aims 8-9% growth in next 12 months; re-launches Tata Tea.

ULTRATECH: Nov cement sales 2.66 mln tn, down 9.25% on year.

VA TECH WABAG: Plans acquisitions of around 10 bln rupees in China and

Middle East.

Share market updates : Nifty support levels

The NSE Nifty is expected to show a strong start around 6000 mark due to the buoyancy in global markets and tend to move towards the Resistance at 6018. The next round of up move may gain momentum if it can sustain above this level, wherein the benchmark can possibly Target the Major Resistance at 6040. Intra-day bullishness will continue as long as Nifty trades above the Critical level of 5988. However below this, the market is expected to take Support at 5962 while a break below this can push it towards the Major Support at 5932.

Indian Stock Market : Correction to 5800 expected

Heavy concentration of puts near 5800 and 5600 levels suggest a correction in short term.

Open	Change in	LTP	Net	Volume	Strike Price	Volume	Net	LTP	Open	Change in
Interest	Open Interest		Change				Change		Interest	Open Interest
70,350	-	3,840.00	-28.2	1	2000.00	1	1	2.5	650	-
-	-	-	-	-	2100.00	-	-	120	-	-
-	-	-	-	-	2200.00	-	-	-	-	-
-	-	-	-	-	2300.00	-	-	-	-	-
-	-	-	-	-	2400.00	-	-	-	-	-
-	-	-	-	-	2500.00	-	-	4.3	101,450	-
-	-	-	-	-	2800.00	-	-	1	350,900	-
-	-	-	-	-	3000.00	-	-	1.05	1,200	-
-	-	-	-	-	3100.00	-	-	-	-	-
-	-	-	-	-	3400.00	-	-	2	250	-
800	-	2,240.00	-	-	3500.00	-	-	2.5	63,150	-
-	-	-	-	-	3600.00	-	-	3.05	1,900	-
-	-	-	-	-	3700.00	-	-	2.55	100	-
-	-	-	-	-	3800.00	-	-	1.35	7,650	-
-	-	-	-	-	3900.00	-	-	1.25	47,550	-
95,800	-	1,944.00	74	60	4000.00	59	-0.15	1.65	910,800	100
-	-	-	-	-	4100.00	17	-0.1	1.6	48,500	-850
-	-	-	-	-	4200.00	21	-1	1.5	223,900	-
-	-	-	-	-	4300.00	24	-0.25	2.25	208,200	-
-	-	-	-	-	4400.00	-	-0.45	1.5	149,300	-
55,800	-	1,530.00	-	-	4500.00	58	-0.45	2.25	327,850	-50
55,450	-	1,340.00	-10	6	4600.00	8	0.35	2.85	255,300	-50
8,200	-	720.25	-	-	4700.00	14	-0.65	2.1	444,200	-
295,000	50	1,122.00	43	4	4800.00	103	-0.65	2.25	502,650	150
108,950	100	1,028.00	47.5	5	4900.00	744	-0.65	3.35	518,400	-50
497,500	-4,050	933.8	53.8	114	5000.00	2,094	-0.7	3.8	1,455,500	950
72,050	-	788.85	-	-	5100.00	1,867	-0.5	5	919,350	6,700
156,550	-1,700	741.8	52.55	56	5200.00	2,581	-1.05	6.5	1,794,250	12,400
130,850	-3,950	652.5	63.5	102	5300.00	14,608	-2.05	9.3	3,136,050	-51,000
307,050	-4,450	558	51	240	5400.00	28,941	-3.7	13.3	3,395,300	-162,100
1,467,900	2,200	459.15	46.2	1,360	5500.00	43,415	-6.75	19.85	5,555,650	26,950
903,550	-2,600	372	44.8	2,067	5600.00	56,836	-10.8	31.3	7,211,100	130,750
1,113,350	5,050	284.8	38.7	3,122	5700.00	77,262	-16.7	46.95	6,783,000	299,500
2,533,350	-14,300	209.6	33.05	27,758	5800.00	112,185	-23.9	69.5	6,798,950	671,450
4,326,050	324,100	143.65	24.8	91,854	5900.00	81,631	-32.35	101.45	3,872,100	787,650
6,901,650	345,800	89.6	17.15	124,453	6000.00	22,544	-41.8	145.1	3,121,950	271,200
4,295,800	321,250	49	9.65	76,076	6100.00	1,902	-46.3	204	1,094,200	13,550
5,283,200	417,500	23.25	4.45	55,422	6200.00	2,279	-51.55	277	655,200	200
4,263,350	172,150	10.8	2.1	24,484	6300.00	639	-56.2	363	426,600	-12,600
2,694,750	57,500	6.1	0.95	13,760	6400.00	113	-63.35	453.25	181,050	-3,550
2,181,750	250	4.35	0.35	5,964	6500.00	200	-42.1	564	144,650	-7,100
991,550	57,650	3.25	-0.15	3,674	6600.00	1	-37.9	652.1	16,800	-
582,750	-3,400	2.65	-0.15	965	6700.00	41	-20	770	162,850	-1,050
281,050	-2,100	2.3	-0.1	327	6800.00	-	-	927.4	6,950	-
343,250	-300	2	-	89	6900.00	-	-	1,000.00	91,550	-
81,100	-	1.9	-	-	7000.00	-	-	1,436.00	3,350	-