FIIs were net sellers with the tune of ` 902.61 crore whereas DII were net buyers of ` 423.25 crore on Thursday, the 18th August 2011(prov. fig.)
FIIs were net sellers with the tune of ` 2060.08 crore in the last week whereas DIIs are the net buyers of ` 1174.76 crore.
The BSE Sensex tumbled 328.12 points or 1.99% to settle at 16,141.67, its lowest closing level since 25 May 2010. The Sensex lost 482.02 points at the day's low of 15,987.77 in mid-afternoon trade. The index fell 182.07 points at the day's high of 16,287.72 in morning trade. The S&P CNX Nifty fell 98.50 points or 1.99% to settle at 4,845.65, its lowest closing level since 25 May 2010. The Nifty hit a low of 4,796.10 in intraday trade. The BSE Mid-Cap index declined 1.36%, outperforming the Sensex. The BSE Small-Cap index fell 2.01%, underperforming the Sensex.
The market breadth was weak. On BSE, 2,083 shares fell and 773 shares rose and a total of 105 shares remained unchanged.
FOR TODAY: The level of 4800-4900 is the 38.2% retracement of the entire up-move of the Nifty from the lows of October, 2008/ March, 2009 to November, 2010. This 4800 level also breached on Friday though Nifty closed above 4800. On the options side, Position closing in Put strikes was seen with continuous downtrend. The highest Put base of 5000 did not help much last week as the Nifty fell towards the 4800 mark on the weekend. With a marginal decline in volatility during the early part of the week, it started moving northwards again. The downtrend may further intensify if it surpasses the resistance level of 36.
ON THE DOWNSIDE, 4776-4782 IS A MAJOR SUPPORT. BREACHING THIS, NIFTY MAY EVEN HIT 4500 LEVEL IN NEAR TERM. HOWEVER, DUE TO EXPIRY WEEK AND WE HAVE ONLY 4 DAYS FOR EXPIRY DAY, NIFTY MAY COVER SOME POINTS. VOLATILITY WILL BE PART OF NIFTY'S MOVEMENT IN THESE DAYS.
ONE MAY GO LONG (THOUGH AGAINST TREND) AROUND 4780/4786 LEVEL WITH A STRICT STOPLOSS OF 4770 FOR SOME QUICK GAINS. BELOW 4770, FRESH SHORT MAY BE INITIATED WITH STOPLOSS OF 4800 (POSITIONAL TRADER). IF YOU ARE IN DOUBT, STAY AWAY FROM THE MARKET TILL EXPIRY.
