FIIs were net sellers with the tune of ` 226.25 crore whereas DII were net buyers of ` 392.90 crore on Friday, the 26th August 2011(prov. fig.)
The BSE Sensex lost 297.50 points or 1.84% to settle at 15,848.83, its lowest closing level since 5 February 2010. The index fell 380.80 points at the day's low of 15,765.53 in late trade. The Sensex jumped 110.05 points at the day's high of 16,256.38 in morning trade. The S&P CNX Nifty shed 91.80 points or 1.9% to settle at 4,747.80, its lowest closing level since 5 February 2010. The Nifty hit a low of 4,720 in intraday trade. The BSE Mid-Cap index fell 2.25% and the BSE Small-Cap index shed 2.65%. Both these indices underperformed the Sensex.
The market breadth was quite weak. On BSE, 2,226 shares fell and 641 shares rose and a total of 111 shares remained unchanged. Among the 30-share Sensex pack, 27 fell while only three rose.
FOR TODAY: ON THE VERY FIRST DAY OF SEPTEMBER SERIES, NIFTY NOSEDIVED AND BREACHED THE LOW OF 4786 MADE ON 25.05.2010. THE TREND IS TOO WEAK BUT IT IS ALSO A FACT THAT NIFTY IS IN OVERSOLD ZONE. TODAY, IN CASE ANY POSITIVE GLOBAL CUES ARE THERE, NIFTY MAY BOUNCE A LITTLE BIT BUT DUE TO TRUNCATED WEEK (WEDNESDAY-31ST AUGUST AND THURSDAY-1ST SEPTEMBER ARE HOLIDAYS DUE TO EID AND GANESH CHATURTHI), NO OVERNIGHT POSITION MAY BE HELD.
TODAY BUY TRIGGER MAY BE THERE AROUND 4700 WITH STOPLOSS OF 4680 FOR A TARGET OF 4780/4790. HOWEVER, IF NIFTY OPENS HIGHER DUE TO GAP-UP OPENING, ONE MAY SHORT AROUND 4800 WITH STOPLOSS OF 4820. ON THE DOWNSIDE, NOW 4675 (LOW MADE ON 8TH FEBRUARY, 2010) WILL ACT AS STRONG SUPPORT BREACHING WHICH NIFTY MAY SEE 4560/4600 LEVEL.
WATCH ITC/ONGC/BHEL MOVEMENT..... NIFTY 4400/4600PE AND 5000CE. I'LL ENTER IN SOME OPTIONS SHORTLY (NOT TODAY).
