FIIs were net buyers with the tune of ` 262.43 crore whereas DII were net sellers of ` 80.81 crore on Wednesday, the 7th September 2011(prov. fig.)
The BSE Sensex was up 202.19 points or 1.2% to 17,065, its highest closing level since 10 August 2011. The index gained 294.40 points at the day's high of 17,157.21 in mid-afternoon trade. The index rose 59.50 points at the day's low of 16,922.31 in early trade. The S&P CNX Nifty was up 60.35 points or 1.19% to 5,124.65, its highest closing level since 11 August 2011. The index gyrated between 5,154.50 and 5,076.30 during the day. The BSE Mid-Cap index rose 1.24% and the BSE Small-Cap index gained 1.53%. Both these indices outperformed Sensex.
The market breadth was strong. On BSE, 1933 shares advanced and 925 shares declined and a total of 105 shares remained unchanged. Among the 30-member Sensex pack, 24 gained while only six of them declined.
FOR TODAY: Options data are suggesting that the support and resistance levels are moving upwards and the range is between 4900-5300 instead of earlier 4800-5200. FII inflow supporting our market. However, as indicated earlier, I will start to exit from my longs (cash segments like RIL, SBIN, JPASSO, LT, BHEL etc.) taken around 4800 (Nifty spot) from 5177 levels part by part. If and only if Nifty spot able to cross 5224 with volume, only then I'll again enter on long side.
WATCH 5150/5177 ON THE UPSIDE ABOVE WHICH IT MAY HIT 5200. ON THE OTHER SIDE, WATCH 5100/5089 BREACHING WHICH NIFTY MAY HIT 5067/5055/5034 LEVEL.
