STOCK MARKET OPENING LEVELS
Golden Investment Research (P) Limited
TODAY FEB 22, 2012 STOCK MARKET OPENING BELL !!!
Market may open lower on weak Asian stocks; RIL in focus
The market may edge lower in the opening trade tracking mostly lower Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 11.50 points at the opening bell.
Reliance Industries said after market hours on Tuesday that it has agreed to form a joint venture with Russian petrochemical company SIBUR to make 100,000 metric tons of butyl rubber a year in Jamnagar, in the western Indian state of Gujarat. Reliance will own a 74.9% stake in the joint venture, which will be named Reliance Sibur Elastomers and SIBUR will hold the rest, the company said in a statement. The joint venture will invest $450 million to build the facility, which is expected to be commissioned by the middle of 2014.
WORLD MARKET DATA (Feb 22)
| Dow | +15.82 |
| Nasdaq | -3.21 |
| Nikkei | +14.57 |
| Hang Seng | -124.89 |
| SGX NIFTY | -18.00 |
NIFTY SPOT LEVEL (Feb 22) 5,607
| RESISTANCE 1 | 5,631 |
| RESISTANCE 2 | 5,656 |
| RESISTANCE 3 | 5,691 |
| SUPPORT 1 | 5,572 |
| SUPPORT 2 | 5,537 |
| SUPPORT 3 | 5,512 |
BANK NIFTY SPOT LEVEL (Feb 22) 11,170
| RESISTANCE 1 | 11,237 |
| RESISTANCE 2 | 11,304 |
| RESISTANCE 3 | 11,401 |
| SUPPORT 1 | 11,072 |
| SUPPORT 2 | 10,975 |
| SUPPORT 3 | 10,908 |
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