"TRADING IDEA FOR FRIDAY (06.01.2012)"


The BSE Sensex lost 25.56 points or 0.16% to settle at 15,857.08, its lowest closing level since 2 January 2012. The index rose 97.53 points at the day's high of 15,980.17 in morning trade. The index fell 73.33 points at the day's low of 15,809.31 in late trade. The S&P CNX Nifty gained 0.30 points or 0.01% to settle at 4,749.95, its highest closing level since 3 January 2012. The index hit a high of 4,779.80 and a low of 4,730.15 in intraday trade. The BSE Mid-Cap index fell 0.01% while the BSE Small-Cap index rose 0.21%. Both these indices outperformed the Sensex.
The market breadth, indicating the overall health of the market, was positive. On BSE, 1,443 shares rose and 1,236 shares fell. A total of 156 shares were unchanged. Among the 30-member Sensex pack, 17 fell while rest of them rose.
FOR TODAY:  THOUGH THESE TYPE OF CONSOLIDATION WAS EXPECTED AFTER A STRONG UPMOVE IN NIFTY AND SURELY, WHICH IS A GOOD FOR MARKETS AS WELL AS BULLS, BUT IT SEEMS THAT NIFTY IS LOOSING ITS STEAM.
WATCH FOR 4731/4711/4700 ON THE DOWNSIDE WHEREAS ON THE UPSIDE, 4770/4784/4800 WILL ACT AS STRONG RESISTANCE. ANY MOVE BEYOND 4680 ON THE DOWNSIDE OR 4840 ON THE UPSIDE WILL DECIDE NIFTY'S FUTURE DIRECTION. TODAY'S TRADING RANGE WILL BE PROBABLY BETWEEN 4680-4820.
INTRADAY TRADING CALLS DURING TRADING HOURS: CHECK HERE
DISCLAIMER: NO HOLDING
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