FIIs were net buyers with the tune of ` 318.84 crore whereas DII were net buyers of ` 317.69 crore on Tuesday, the 20th September 2011(prov. fig.)
The BSE Sensex jumped 353.93 points or 2.11% to settle at 17,099.28, its highest closing level since 8 September 2011. The index jumped 390.09 points at the day's high of 17,135.44 in late trade. The index gained 13.34 points at the day's low of 16,758.69 in early trade. The S&P CNX Nifty was up 108.25 points or 2.15% to settle at 5,140.20, its highest closing level since 8 September 2011. The index hit high of 5,149.90 in intraday trade. The BSE Mid-Cap index rose 0.9% and the BSE Small-Cap index gained 1.23%. Both these indices underperformed the Sensex.
The market breadth was strong. On BSE, 1,838 shares rose and 977 shares fell and a total of 104 shares remained unchanged. Among the 30-share Sensex pack, 28 rose and only 2 declined.
FOR TODAY: Nifty made a sharp move on the upside with hope that GREECE would be able to get a green light from its International Creditors. Surely this may help it avert for a short term. But that may not necessarily is the end of its woes. Earlier, Nifty faced a stiff resistance near 5170. This time, Nifty may cross this level but there is multiple resistances between 5177 and 5230.
WATCH 5177/5200/5230 LEVEL ON THE UPSIDE THAT MAY ACTS AS RESISTANCE WHEREAS IT MAY HIT 5100/5089 ON THE DOWNSIDE, IF ANY SELLING PRESSURE IS SEEN AT UPPER LEVEL.
MY TRADE WILL BE TO:
1. BUY 5100 OR 5200 PE AROUND 5177/5180 LEVEL WITH STOPLOSS OF 5200 OR 5230.
2. BUY LT 1600 CE AROUND 1550/1555 WITH STOPLOSS BELOW 1531.
3. EXIT FROM RIL, SBIN, INFOSYS ETC. IN CASH SEGMENT THAT WERE TAKEN AROUND 4800 LEVEL. EARLIER, EXITED FROM LT AND BHEL.
(ALL LEVELS ARE SPOT LEVEL; WILL MONITOR CLOSELY; TGT. LATER)
NOTE: KINDLY READ 'DISCLAIMER'
